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Q. Explain Accounting entity concept?
Business entity concept (or accounting entity concept). Data assemble in an accounting system relates to a specific business unit or entity. The business entity concept presumes that each business has an existence separate from its creditors, owners, employees, customers, other interested parties and other businesses.
Give the statement classification of each income statement account
Explain the process involved in accounting
the scope of operation research in modern management
You have been assigned to analyze the costs of NC Microelectronics, a microchip manufacturer. Indicate whether the following costs are more likely fixed (F), variable (V), or mixed
implication of applying accounting concepts
The accounting records of Nu-tonics Inc., include the following information for the year ended December 31, 2013: Materials Inventory as at 1 January 2013 $ 20,000 Materials
Q. Sales Returns and Allowances account? The Sales Returns and Allowances account is the contra revenue account to Sales that records the selling price of merchandise returned
The 31st December 2009 trial balance of Anika Co. reported the following information. Dr. Cr. Allowance for Bad Debts........................... $2,300 During the year 2010 t
Uses of Funds Flow Statement : This declaration is extremely helpful for policy makers as it traces the movement of funds inside the organization. Various of the uses include
Accounting Principles are the rules and guidelines that companies should follow when reporting and accounting financial data. The general set of accounting principles are the gener
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