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Q. Show Approximation of periodicity?
Approximation and judgment because of periodicity To offer periodic financial information accountants must often estimate expected uncollectible accounts and the useful lives of depreciable assets. Ambiguity about future events prevents precise measurement and makes estimates necessary in accounting. Auspiciously these estimates are often reasonably accurate.
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Q. What is Cost-benefit? Cost-benefit The cost-benefit consideration engrosses deciding whether the benefits of including optional information in financial statements exceed th
i need to pay rent for 3 year 2011,2012,and 2013. am in 2012 1 December. what entries will be there for rent account and the rant account balance amount
On January 1, 2012, Magnus Corporation had 60,000 shares of $1 par value common stock issued and outstanding. During the year, the following transactions occurred: Mar. 1
Determine the terms of Recording sales of merchandise The SALES ACCOUNT is a temporary account with a normal credit balance. It's ONLY used to record sale of merchandise on
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1. what is accounting ? 2. what should we/i do to know accounting 3. what are the basics of accounting? 4 is accounting is hard ?
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