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Q. Prior period adjustmentsa. may only increase retained earnings.b. may only decrease retained earnings.c. may either increase or decrease retained earnings.d. do not affect retained earnings
Time for disclaimer The trustee may disclaim in writing at any time within twelve months of his appointment, or of becoming aware of the property, or such extended period as th
If dividends per share are in surplus of earnings per share then a company must be making the dividend payment out of reserves. In other sense the net asset value of the business w
explain inflationary accounting
#questBackground: The SEC set up the Work Plan which sets forth specific areas and factors to consider before potentially transitioning our current financial reporting system for U
a,b,c carried on business and their profit and loss ratio 3:4:5.they decided dissolve the partnership as on 1st july,2011.the following balance sheet..... creditors-10000 loan A/c-
Classifying expenses by nature Under this format, expenses are not classified by their nature i.e. referred to specifically according to their type and the major categories of ex
QUESTION 1: Part A Malcolm was in business as an import merchant and the following balances were extracted from his books on 31st December 2003: Purchases
From the end of January to the end of December 2010, the XYZ Company experienced the following changes in its assets and liabilities of interest: the company achieved a saving posi
Series Arithmetic Mean Standard Deviation Small-company stocks 15.9 % 32.8 % Large-company
Question A The key functions of financial system are to provide a link between savers and investors. What are the key functions of financial market Question B Describe the me
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