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Illustrate the subsequent Accounting Concepts:
a) Dual Aspect concept
b) Materiality concept
c) Matching concept
d) Conservatism concept
Accrual Concept The accrual concept makes a distinction among the receipt of cash, and the right to obtain it, and the payment of cash and the legal obligation for pay it. In
How to setup T accounts
Angel Individual investors which are often called angels, make capital investments in entrepreneurial ventures in return for equity (partial ownership) in the industry. These
What is accounting process?
untangible assets
Brown sole trader Brown has been in business for some years and has kept her drawings slightly below the level of profits each year. You are her accountant, and she has passed
journal entry fire insurance claim received for previous year is 50% of its original claim
Are mailing lists are considered as prepaid or period expens?
Q. Show payment of a liability? Accountants are able to easily measure some changes in assets and liabilities such as the acquisition of an asset on credit and the payment of a
State the term - Partnership A partnership exists where at least two individuals carry on a business together with intention of making a profit. Partnerships have much in commo
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