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Q. Corporate accounting and accounting for sole proprietorship? Several textbook authors use a sole proprietorship and a partnership form of business ownership to exemplify acc
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Q. What do you eman by Purchases account? In periodic inventory procedure a merchandising company uses the Purchases account to record the cost of merchandise bought for resale
Q. Explain about Accounting period? As those interested in the activities of business need timely information companies must prepare financial statements periodically. To organ
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Explain about the RECORDING PURCHASES Source document for recording a purchase of merchandise is purchase invoice. o An instance of a transaction of purchasing merchandise
The advent of management accounting was the subsequently logical step in the developmental method. The practice of utilizing accounting information like a direct aid to management
Ken Young and Kim Sherwood organized Reader Direct as a corporation; each contributed $49,000 cash to start the business and received 4,000 shares of stock. The store completed its
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Benchmarking A process by which a company reassesses its established business practices by comparing them with the best practices of other organizations. This process is desi
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