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Question: The following data are obtained from the record of a factory: £ £ Sales 4,000 units @ £2
Q. Flexibility in Debt finance? Debt finance is more elastic than equity in that various amounts can be borrowed at a fixed or floating interest rate and for a range of maturit
Q. What do you eman by Lease? Lease - Conveyance of buildings orland, equipment or other ASSETS from one person (LESSOR) to another (LESSEE) for a specific period of time for m
Gomez incurred $350,000 of research and development costs to develop a product for which a patent was granted on January 2, 2008. Legal fees and other costs associated with the reg
THE PETITION Petition by debtor : If the debtor presents his own petition, a receiving order is made at once without a court hearing and an adjudication order may also be ma
LIMITATIONS O F FINANCIAL ACCOUNTING 1. Simply transactions which can be calculated in terms of money can be recorded in the books of accounts. Actions, though important t
limitations of the balance sheet
THE BALANCE SHEET It shows the financial position of the company as at the end of a given financial period. The standard requires that assets and liabilities should be classifi
The company pays its employees at the end of the day Friday for work done during that five-day work-week. Total wages for a week are $16,000. In the current year, December 31 occur
State the types of business organizations There are numerous types of business organizations: Service business-doctors, lawyers, barber shop etc. Merchandising busin
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