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Q.1 Explain the ways in which the needs of internal and external users of accounting information are the same and different.Q.2 Why is it important for financial statements and other external reports to be based on generally accepted accounting principlesQ.3 Describe the respective roles of the Securities and Exchange Commission (SEC) and the Internal Revenue Service (IRS) in the setting of accounting standards?
Binary Coded Decimal BCD stands for Binary Coded Decimal. The information given to the computer is stored temporarily before it is processed. Consider a number 827. The bin
Q. Dividends in arrears on cumulative preferred stock a. are shown in stockholders' equity of the balance sheet. b. must be paid before common stockholders can receive a dividend.
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Q. What is Amortization? Amortization -Periodic and Gradual reduction of any amount, like the periodic write-down ofa BOND premium, cost of an intangible ASSET or periodic paym
In February, one of Team Shirts' best customers went bankrupt owing team shirts $85. Team shirts uses the sales method for estimating bad debts. February sales were $15,000. The ac
Need: a. Prepare an Income Statement by with appropriation account for the financial year ended 31.12.2010 b. Prepare the partners' present a
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assess the risk of material misstatement at assertion level
CarloffCremes (CC) planned to sell 40,000 Queen size at $20 each and 20,000 King size at $15 each. Actual sales of the former were 45,000 and 25,000 of the latter, at $19 and $16 r
Q. What is Completion Report? The object of a completion report is to compare the cost of work actually constructed with those provided for in the last sanctioned estimate. A com
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