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The 2001 Recession: It is November 2001 and the U.S. Stock market has plummeted and the recent September 11th attacks have hurt consumer condence. Businesses have stop hiring and c
What are the implications of applying accounting concepts wrongly?
Could the choice of recording a capital asset impairment or not, impact the financial statements significantly? Explain.
Q. Economic substance of the transaction? In a few business transactions the economic substance of the transaction conflicts with its legal form. For instance a contract that i
Which type of error would cause an entry in the suspense account? A. A page total from the purchases journal was posted as $9780 rather than the correct figure of $9870. B. C
Q. Procedure of recording business transactions? The raw information of accounting is the business transactions. We documented the transactions in section 1 as increases or dec
Describe what journal entry pass in case of vat refundable and in case of vat payable? Ans) In case of vat payable: output vat Toinput vat To vat payable In case o
Are mailing lists are considered as prepaid or period expens?
most consrvatism way of lower cost method
Explain about the payroll register This is a summary of gross earnings, deductions and net pay for all employees for a specific payroll period. Register illustrates all amounts
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