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Q. Explain the Matching Principle?
Matching Principle - A basic concept of basic accounting. In any one given accounting period, you must try to match the revenue you are reporting with expenses it took togenerate that revenue in same time period, or over periods in that you will be receiving benefits from that expenditure. A simple example is depreciation expense. If you purchase a building which will last for many years, you don't write off the cost of that building all at once. In its place, you take depreciation deductions over the building's estimated useful life. Therefore, you've ‘matched' the expense, or cost, of building with the benefits it produces, over the course of years it will be in service.
In actual life cash flows occurring above a period of time are frequently uneven. For illustration, the dividends declared through the companies will change from year to year, as s
What would be the effect on the balance sheet if adjustments (a) and (f) were omitted at the end of the year?k question #Minimum 100 words accepted#
Rescission of receiving order The order may be rescinded by the court if: The court has sanctioned a composition or scheme of arrangement; The debts have been paid in
General limitations of Net Present Value when applied to investment appraisal NPV is a generally used technique employed in investment appraisal but is subject to a number of r
McM Cog is a supplier of industrial parts. Most orders are received at a call center. The call center currently has 10 phone lines total, i.e., a maximum of 10 callers may be in t
Dillings Ltd is a wholesaler and distributor of catering of office equipment. The following list of balances was extracted from its books at 31 March 2004: 1428_Prepare the Income
Q. What is Short Sale? Short Sale - Sale of an item before it is purchased. A person entering into a short sale believes that the price of item will decline between date of the
The Soft-Flow Ink Company's income statement for the preceding year is presented below. Except as noted, the costs revenue relationship for the coming year is expected to follow t
Your company is considering investing in its own transport fleet. The present position is that carriage is contracted to an outside organization. The life of the transport fleet w
For this question you will use the dataset "murder.xls", which includes: • rate = Murder rate per 100,000 • convictions = Number of convictions divided by number of murders • execu
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