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explain accounting concepts and conventions?
Investments under the Trustee Act The act defines the categories of investment as follows: 1. Fixed interest securities are: Securities which under their te
What is Acid-test ratio A measurement of the capability of a business to meet its short-term commitments. It is considered by dividing excluding stock, current assets, by curre
The intestate leaves one surviving spouse and children The surviving spouse is entitled to: a. The personal and household effects of the deceased absolutely; b. A life inte
an asset has a useful life of 4 years.If it is depriciated by diminishing balance method.Its book value at the end of 4 years is 24% of its original cost.Hence the rate of depricia
Evaluate the following statements, and explain why you agree or disagree. (a) In a recent interview, a Wall Street investment banker commented on the infrequent use of Prefer
what is use of accounting ratios?
Q. What are the financial statements? Significant Accounts - An account is significant if there is more than a remote likelihood that account could include misstatements which
Q. Explain about Financial Accounting Standards? Financial Accounting Standards - Official promulgations, also called STATEMENTS OF FINANCIAL ACCOUNTING STANDARDS, by FINANCIAL
Your firm's research department has estimated the income elasticity of demand for Art Deco lawn furniture to be 1.5. You have just learned that due to an upturn in the economy, con
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