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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.
how do we credit debit cash received from owner
Objective of Eight non-profit organization engaged in the conservation forest and wild animals
Bill is an avid angler. His favorite fishing location is Willow Lake, which supports year-round sport fishing. His monthly demand function for fishing at Willow Lake is given by x
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The two fundamental sources of equity in a company are stockholders and creditors their combined interests are called total equities. To discover the equity ratio divide stockholde
Carrying amounts of merchandise materials as well as supplies inventories are generally determined on a moving average cost basis and are stated at the lower of cost or market.
Discuss the considerations that management should take into account in determining the design of an accounting system which will satisfy both (i) its own information requirements a
Paid salaries to sales clerks
Explain in brief about the purchases account keeps a record of cost of merchandise purchased for resale during an accounting period. Assets are recorded as assets-not pu
Angel Individual investors which are often called angels, make capital investments in entrepreneurial ventures in return for equity (partial ownership) in the industry. These
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