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Both the parts, Profit and Loss Account and Trading Account of last account are interdependent upon each other. Gross Profit or loss plays a very important role in the calculation
Generally Accepted Accounting Principles (GAAP) -Rules, conventions and procedures essential to define accepted accounting practice at a specific time. The highest level of such pr
The total demand (marginal benefit) curve for visiting Yosemite is as follows: Price = 5000-10*NumberOfTrips -10*TonsOfVisibleTrash. a. Suppose the quantity of trash=100 tons. D
The Smiths have two children who live with them: Sandy and Judy. Both are full-time students. Sandy is an accomplished singer and made $4,200 during the year performing at special
Question P A RT A Borrico ltd manufacture a single product and they had currently introduced a system of budgeting and variance analysis. The subsequent information i
Determine When to Stock It will be influence with the inventory system in place as given: 1. Periodic order system. The firm obtains a new order of the amo
A local hotel offers lodging services. You can pick a name for the hotel(Home Sweet Home Hotel). Your team will develop a prototype reservation system to record client bookings fo
Expenses are usually recorded only while they are paid. The failure to record unpaid expenses in the accounts outcomes in an understatement of which expense and also an understatem
When assets are replaced during the anticipated life of the project, or at the end of the anticipated life of the project, they are sold at their pre-determined scrap values. Incom
10% of the finished castings were to be defective in manufacture and were rectified by expenditure of additional works overhead charges to the extent of 20% on the proportionate di
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