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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.
Q. What is Sales revenues? The sale of goods takes place between two parties. The seller of the merchandise transfers them to the buyer in exchange for cash or a promise to pay
Explain the business assets Withdrawal Withdrawal (Drawing) is removal of business assets for personal use by owner. This transaction decreases the asset taken and value of
I just want part A and Part B including ppt slides to present.
A(n) _______ loss occurs when the reduced price is below the actual cost. A. net B. operating C. absolute D. incurred
Q. What is Long-term liabilities? Long-term liabilities are debts such as a bonds payable and mortgage payable that aren't due for more than one year. Companies must show matur
what is the accounting?
what are the options of setting up companies chart of account
Q. Explain about Freight collect? Freight collect indicates the buyer should initially pay the freight bill on the arrival of the goods. To demonstrate the use of these terms s
Explain What do you recognized by Open Item Managed Account? Ans) Open item management make sure that all items that have not yet been cleared are available in the system. Only
what is an accounting cycle
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