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Q. Financial statements of business organizations?
Business entities may perhaps have many objectives and goals. For instance one of your objectives in owning a physical fitness centre perhaps to improve your physical fitness but, the two primary objectives of every business are solvency and profitability. Profitability is the ability to make income. Solvency is the capability to pay debts as they become due. Unless a business is able to produce satisfactory income and pay its debts as they become due, the business can't survive to realize its other objectives.
There are four fundamental financial statements. Mutually they present the profitability and strength of a company. The monetary statement that reflects a company's profitability is the income statement.
even after preparing BRS why does balance as per cash book and balance as per pass book do not tally?
Worthington Company issued 1,000,000 face value, 10% bonds on July 1 2012, when the market rate of interest was 12%. Interest payments are due every July 1 and January 1. Worthin
Q. What is depreciable amount? The dissimilarity between assets's cost and its estimated residual value is an asset's depreciable amount. To persuade the matching principle the
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 Accrued assets? Accrued assets are assets such like interest receivable or accounts receivable that haven't been recorded by the end of an accounting period. T
where dose inventory changes aper on the balance sheet
Question 1: What are the kinds of inventory? Transaction inventory Speculative inventory Precautionary inventory Question 2: Explain in brief the invent
began his business with equipment valued at $40,000 and place $400,000 in the business checking account. what are the accounts affected?
Q. What is Accumulated depreciation? Accumulated depreciation is a contra asset account to depreciable assets such like machinery, buildings and equipment. This account illustr
what is implication wrongly application of accounting concept#
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