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1. Describe the following with detailed example:
i. Wealth Maximization ii. Profit maximization
2. Describe the functions and limitations of accounting.
3. Prepare a detailed note on ratio analysis and its classifications.
Define the term- FICA TAX This is a matching tax paid equally by employee and employer. Two parts-OASDI and HIP. Current rate for OASDI is 6.2% on the first $102,000 earned
Why to and by using in journal, trading a/c, p&l a/c and ledger?
Q. What is Timeliness? The Timeliness requires accountants to provide accounting information at a time when it perhaps considered in reaching a decision. Usefulness of informat
Profitability refers to a company's ability to obtain profits and positive cash flows and to its ability to obtain an adequate return on invested capital or a company's ability to
Under both GAAP and tax depreciation, an asset cannot be depreciation until it has been
Q. Show payment of a liability? Accountants are able to easily measure some changes in assets and liabilities such as the acquisition of an asset on credit and the payment of a
What is the implication of applying accounting concepts wrongly
Super stockist is one who supply product to n no. of distributor in area. Distributor is one who supply to dealers in the area
Q. Explain about Long-term assets? Long-term assets are assets that a business has on hand or else uses for a relatively long time. Examples include plant, property and equipme
Assignment on Generally Accepted Accounting Principles
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