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A company pays rates annually/yearly in advance on 1 April every year. $4000 is paid by them on 1 April 2009 and $4800 on 1 April year 2010. The company's accounting year end is 31 December.
What is the charge for rates in the 2010 income statement?
a) $4000
b) $4200
c) $ 4600
d)$4800
Advantages and disadvantages of FIFO The FIFO method has four main advantages (a) it is easy to apply (b) the assumed flow of costs corresponds with the normal physical flow o
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Spin off is making new company by selling or distributing the shares of existing company
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