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Q. Explain about stable dollar assumption?
In the United States accountants make one more assumption regarding money measurement that the stable dollar assumption. Under the stable dollar assumption the dollar is accepted as a sensibly stable unit of measurement. Therefore accountants make no adjustments for the changing value of the dollar in the primary financial statements.
Using the stable dollar assumption creates a complexity in depreciation accounting. Presume for instance that a company acquired a building in 1975 and computed the 30-year straight-line depreciation on the building without adjusting for any changes in the value of the dollar. Therefore the depreciation deducted in 2008 is the same as the depreciation deducted in 1975. The company makes no adjustments for the dissimilarity between the values of the 1975 dollar and the 2008 dollar. Both dollars are treated as equivalent monetary units of measurement despite substantial price inflation over the 30-year period. Business executives and Accountants have expressed concern over this inflation problem especially during periods of high inflation.
Q. What is Purchase Discounts account? The buyer records the purchase discount merely when the invoice is paid within the discount period and the discount is taken. The Purchas
on which shares pre acquisiton dividend received
Q. Basic elements of financial statements? Therefore far we have discussed objectives of financial reporting and qualitative characteristics of accounting information. A third
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Elaborate the consequences of non-compliance of each of the accounting concepts.
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Research the major funds of your state or local government and nonprofit organizations. • What are the major funds of your state or local government, and how do they differ in n
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State about the Cash payments journal A special journal used to record any payment of cash. There would be a check number given to be recorded in journal as well. Source docume
The CPSdata to re-estimate the difference among average male and female pay. Use for example, the regression LS LNWAGE C FE a. Can you avoid the hypothesis that mean female
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