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1. When preparing the operating activities section of the statement of cash flows using the indirect method, a decrease in accounts recievable is subtracted from net income.True or False
2. Financing activites include receiving cash dividends from investments in other companies' stocks.True or False
3. Process cost accounting systems are commonly used by companies that manufacture standardized products by passing them through a series of manufacturing steps. True or False
4.Classifying costs by behavior involves: A) Identifying fixed cost and variable cost. B) Identifying costs in a physical manner.
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Review - Accounting service which provides some assurance as to reliability of financial information. In a review, a CERTIFIED PUBLIC ACCOUNTANT (CPA) doesn't conduct an examinatio
CONSOLIDATED CASHFLOW STATEMENTS (IAS 7) The basic cash flow statement has been covered under Financial Accounting II. The following introduction will serve as a quick reminder.
Q. Define Strong form efficiency? In robustly efficient market finance directors will be alert to the fact that market prices are an accurate reflection of their company's fina
Occasionally cash flows may have to be discounted more often than once a year semi- monthly, daily, annually or quarterly. The outcome of this is as fold (i) The number of per
ABC Analysis: ABC that is Always Better Control analysis is an application of the principle of 'Management by Exception' to the field of inventory control. If we seem at the in
DEFINITION OF BANKRUPTCY Bankruptcy is another key area of accounting . The issues addressed here deal with the properties of an individual (a sole trader or partner in a partner
In Section we had established an association among the effective and nominal rate of interest where compounding arise n times a year that is as given: r = (1 + k/m ) m - 1
What is the best way of doing reconciliations of control accounts like Purchases Ledger Control vs Purchases Ledger and Sales Ledger Control vs Sales Ledger
Right of indemnity If the Official Receiver or trustee has seized or disposed of any property in the possession of the debtor, without notice or claim relating thereto, he is
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