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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.
A company pays rates annually/yearly in advance on 1 April every year. $4000 is paid by them on 1 April 2009 and $4800 on 1 April year 2010. The company's accounting year end is 31
Capital In addition to borrowing from banks and additional sources, all companies obtain finance from their owners. This money is usually accessible for the life of the busines
Prepare the Journal Entries Journalize the following business transactions in general journal form. Identify each transaction by number. You may omit explanations of the tr
PRICE FOR A 3-6 PAGE PAPER IN APA FORMAT
Q. Explain about full disclosure principle? The full disclosure principle states that information significant enough to influence the decisions of an informed user of the finan
Q. Procedure of recording business transactions? The raw information of accounting is the business transactions. We documented the transactions in section 1 as increases or dec
1. Carmen Santiago works for a number of businesses as a "consultant." She has helped design accounting systems, provided accounting services, and analyzed the financial stre
Money payable by customers (individuals or corporations) to the other entity in exchange for goods or services that have been given or used, but not yet paid for. Receivables typic
Explain the types of Financial Statements Income Statement . This is a summary of a business's expenses and revenue for a specific period of time. It ONLY shows expenses and r
Q. Define about Assets and Liabilities? Assets are feasible future economic benefits obtained or controlled by a particular entity as a result of past events or transactions.
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