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Q. Explain Merchandising companies?
Merchandising companies buy goods that are ready for sale and then sell them to customers. Merchandising companies comprise clothing stores, auto dealerships and supermarkets. We begin the description of accounting for merchandising companies in next section.
Question 1: What are the kinds of inventory? Transaction inventory Speculative inventory Precautionary inventory Question 2: Explain in brief the invent
Q. Explain about Trial balance? Trial balance -- at the close of an accounting period, transactions posted in the ledger areadded up. A trial or test balance sheet is prepared
Q. Explain about stable dollar assumption? In the United States accountants make one more assumption regarding money measurement that the stable dollar assumption. Under the st
Which statements about marginal costing are correct? 1. The marginal cost of a product involves an allowance for fixed overheads. 2. The marginal cost of a product presents t
Q. Explain about Traditional accounting theory? Conventional accounting theory consists of underlying assumptions rules of measurement major principles and modifying convention
budgeting?
Define Accounting. Briefly explain the accounting concepts which guide the accountant at the recording stage.
Question 1: (a) Public accounting is said to "mirror" the budget. Explain. (b) How public sector accounting systems help in the administration of public finance? Questio
Q. Steps used in retail inventory method? The retail inventory method approximation the cost of the ending inventory by applying a cost/retail price ratio to ending inventory s
Q. Explain about Representational faithfulness? Representational faithfulness To increase insight into this quality considers a map. When it shows bridges and roads where roads
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