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Q. What is Consistency? Consistency in general requires that a company use the same accounting principles and reporting practices through time. This concept disallows indiscrim
The book of Deven Verma could not be tallied. The account transferred the difference of Rs. 1.270 in the suspense account on the debit side. the following mistakes were found later
what is the implication of applying accounting concepts wrongly
Why to and by using in journal, trading a/c, p&l a/c and ledger?
how do we credit debit cash received from owner
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
Distributions to owners are reducing in equity of a particular business enterprise resulting from transferring rendering services, assets or incurring liabilities by the enterprise
Which statements about marginal costing are correct? 1. The marginal cost of a product involves an allowance for fixed overheads. 2. The marginal cost of a product presents t
define accounting.Briefly explain the accounting concepts which guide the accountant at the recording stage.
Q. Show Accumulated depreciation account with example? Micro Train credits the depreciation amount to an accumulated depreciation account which is a contra asset rather than di
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