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Q. Horizontal and vertical analysis?
Management carry out horizontal and vertical analyses along with other forms of analysis to help evaluate the wisdom of its past decisions and to plan for the future. Other data would have to be inspecting before decisions could be made regarding the assets shown. For example if you discovered the liabilities that would have to be paid within a short time by Hewlett-Packard were more than USD 30 billion you might conclude that the company is short of cash even though current assets increased substantially during 2000. We exemplify horizontal and vertical analyses to a much greater extent later in the text.
Q. Define purchase discounts and purchase returns? Two general deductions from purchases are (a) purchase discounts and (b) purchase returns and allowances. In the general ledg
Analysing and Recording Process Question A friend knows that you are studying the Business Accounting 1 course, so he approaches you and enquires about the steps of the ana
Q. Modifying conventions on Materiality? The Materiality is a modifying convention that permits accountants to deal with immaterial (unimportant) items in an expedient however
Q. What is credit balance? If on the other side the sum of the credits exceeds the sum of the debits the account has a credit balance. For example assume that a company has an
Q. Define Operating expenses? Operating expenses for a merchandising company are those expenses other than cost of goods sold incurred in the usual business functions of a comp
Amounts paid on June 30 for a 1-year insurance policy. Is this a pre¬paid expense, (2) unearned revenue, (3) accrued expense, (4) accrued revenue, or (5) none of the foregoing.
What is the full disclosure principle
procedure followed in government system of accounting in india
An invoice for product X totals $1,200 and is dated July 6, 2000 with terms 2/10-60X. If the invoice is paid on September 3, 2000, what is the net amount of payment? A. $912
Q. Example of Electronic spreadsheets? Electronic spreadsheets have many applications in accounting. An electronic spreadsheet is basically a large blank page that contains row
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