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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.
1. Double declining method 2. Units of production method 3. Sum of year digit method 4. Straight-line method Depreciation Fund Method Insurance Method Annualy Method
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Why it is important for independent auditor to be a member of a professional body?
Ask question Discuss the export financing under the deferred payment system.#Minimum 100 words accepted#
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Q. Example on closing process? This problem engross using a work sheet for Green Hills Riding Stable Incorporated for the month ended 2010 July 31 and performing the closing pr
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