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Q. Show types of activities performed by business organizations?
The forms of business unit examined in the previous section are classified according to the type of ownership of the business entity. Business entities are able to as well be grouped by the type of business activities they perform- merchandising companies, service companies and manufacturing companies. Any of these activities is able to be performed by companies using any of the three forms of business organizations.
When individuals look for a bank loan to finance the formation of a small corporation the bank frequently needs those individuals to sign documents making them personally responsible for repaying the loan if the corporation can't pay. In this illustration the individuals are able to lose their original investments plus the amount of the loan they are obligated to repay.
Q. Financial statements in European countries? In a few European countries the financial statements contain secret reserves. These secret reserves occur from a company not repo
partner investments, journal entries. The LP partnership was formed on January 1, 19X7, by investments from Bill Levy and Marv Parcells. Levy contributed $30,000 cash and $80,000 o
How to setup T accounts
Q. Explain Inventory turnover ratio? An important ratio for managers, investors, and creditors to consider when analyzing a company's inventory is the inventory turnover ratio.
ACCOUNTING STANDARDS An Accounting Standard is a elected set of accounting policies or broad strategies concerning the principles and methods to be elected out of numerous subs
Weston Corporation manufactures a product that is available in both a deluxe and a regular model. The company has made the regular model for years; the deluxe model was introduced
A vendor reduces an item listed at $140 on July 1st by 20%, and then reduces it another 25% on September 1st. What is the sale price of the good after the last reduction? A. $7
FINANCIAL STATEMENT ANALYSIS Following the preparation of the Financial Statements, they are examined by the business for the reason of analyzing the presentation of the compan
Illustrate about the matching principle This principle requires that expenses and revenue be recorded in accounting period in which they occur. For a net income figure to be a
When we say an asset is at its Net Book Value, Does that mean Cost of asset + Revaluation added - Accumulated Depreciation or Revaluation is not relevant for calculating the NBV?
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