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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.
Explain:- 1. Why would users want to see cash flows broken out into three parts (operating, investing, and financing)? What's the purpose of this structure? 2. Companies often use
Concept of Flow of Funds : It refers to the 'Change in Funds' or 'Change in Working Capital'. That is, any increase or decrease in Working Capital. In business, daily, numerous t
Cross indexing is made up
The decision has been made: You [Tracy] have opted to start your career by joining an international accounting firm. But you can't help wondering if you have the right skills both
Part 1 (a) Name and describe the three concepts that form the basis of double entry bookkeeping, and explain how they form the basis of double entry bookkeeping. (b) How doe
Q. Explain Merchandise inventories? Merchandise inventories are goods supposed for sale. Section 6 starts our discussion of merchandise inventories.
Q. Example of Unearned service fees? Unearned service fees On December 7 Micro Train Company received USD 4500 from a customer in payment for future training services. The firm
I am trying to figure out FIFO LIFO and AVERAGE COST of the ending inventory and the cost of goods sold.
i want to clear concepts of journal
Answer the following questions in 200 to 300 words: · Nonprofit organizations are required to produce financial statements based on the accrual method of accounting
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