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Q. Illustrate Exchange-price concept?
Exchange-price (or cost) concept (principle). The majority of the amounts in an accounting system are the objective money prices determined in the exchange process. Consequently we record most assets at their acquisition cost. Cost is the sacrifice made or else the resources given up measured in money terms to acquire some desired thing such as a new truck (asset).
Limitations of Ratio Analysis : In spite of the a variety of uses of ratio analysis, it go through from certain limitations, some of which are as under; 1. Limited use
Management accounting and financial accounting Accounting is generally seen as having two different strands which are: ? Management accounting that seeks to meet accounting
what is accounting equation and introduction
Financial statements Summaries of financial activities are known as financial statements that are prepared on a regular basis at the end of an accounting period. Accounting per
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
Ask question Discuss the export financing under the deferred payment system.#Minimum 100 words accepted#
Exercise 5-3 Analyzing and recording merchandise transactions-both buyer and seller LO P1, P2 Santa Fe Company purchased merchandise for resale from Mesa Company with an invo
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Illustrate about the matching principle This principle requires that expenses and revenue be recorded in accounting period in which they occur. For a net income figure to be a
exploration costs for mining companies are assts
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