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Describe the following questions:-
Q.1 Explain how financial statements assist in the capital allocation process. How are financial statements limited? Which financial statement is the most useful?Q.2 Explain why net income is not always the best measuring stick for a company?Q.3 Research and discuss at least two different forms of business organizations (ex. sole proprietorship, partnership, corporation, LLC, etc.). Discuss why accounting record keeping is important to the success of the organization and how accounting systems can help by increasing efficiency and effectiveness.
Prove that accounting equation is satisfied in all the following transactions of Mr.X 1. Commenced business with cash - Rs.80,000 2. Pu
There are two projects A and B. The initial capital outlay of A and B are Rs.1,35,000 and Rs.2,40,000 respectively. There will be no scrap value at the end of the life of both the
discuss the importance of state accounting to an effective fiscal administration
What are the effects on current income and on future income, if a firm incorrectly capitalizes an expenditure that it should have expensed? State your answer for both current inc
Question 1 a. Contractual liability may be discharged in certain circumstances. Discuss. b. "An aggrieved party in a breach of contract is entitled to claim for damages"
Illustration for company conversion Kamau Maneno and Rotino have carried on partnership for several years, sharing profits and losses equally after allowing for annual salaries
Q.2 Explain different methods of costing. Your answer should be studded with examples (preferably firm name and product) for each method of costing.
#what are the limitations or disadvantages of accounting concept?
The objective is to assess the incentive to acquire information on consumer characteristics. We consider a monopoly. The firm incurs no production cost. There are M consumers with
How to treat them both which affect the trial balance and which dont affect the trial balance
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