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Invoice is a text which haves the under mentioned details compulsorily. 1. Invoice Number 2. Name and address of the person 3. Invoice date Name and address of someone
Notes to financial statements
GAAP that is Generally Accepted Accounting Principles encompass the conventions, rules and processes necessary to explain accepted accounting practice at an exact time........gener
Explain the term- Depreciation This is a term which is used to describe the expense which results from loss of usefulness of an asset because of age, wear and tear, and obsoles
Q. Summary of significant accounting policies? As part of their annual reports companies comprise summaries of significant accounting policies. These policies help users in int
briefly explain management process
1. State the equity equation. 2. Which account represents the beginning equity figure? 3. In which accounts are changes to equity recorded? 4. How do drawings affect the calculati
Q. What do you mean by Liabilities? Liabilities are the debts outstanding by a business. Usually a business should pay its debts by certain dates. A business acquires many of i
Q. Explain about Classified income statement? An unclassified income statement has merely two categories revenues and expenses. In contrast a classified income statement divide
Q. Define Non-operating revenues? Non-operating revenues or other revenues and non-operating expenses or other expenses are revenues and expenses not related to the sale of pro
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