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The principle that (1) requires revenue to be recognized at the time it is earned, (2) allows the inflow of assets associated with revenue to be in a form other than cash and (3) measures the amount of revenue as the cash plus the cash equivalent value of any non-cash assets received from customers in exchange for goods or services is called the
On 1 January 2008, a young artist called Michelangelo signed a contract with a charity named Art Angels, which supports young artists to do large projects. The agreement requires M
I have one assignment of this course (diploma Financial Planning), can you help me in doing my assignment
To decide in what zone should be placed a store which sells video-cassettes, the manager of a firm which sells and rents cassettes makes a study to estimate the demand for each sto
1. When preparing the operating activities section of the statement of cash flows using the indirect method, a decrease in accounts recievable is subtracted from net income. True o
Q. Standards for Accounting and Review Services? Statements on Standards for Accounting and Review Services (SSARS) - Statements issued by AMERICAN INSTITUTE OF CERTIFIED PUBLI
how can make a balance sheet
The Budvar Company purchases parts from a foreign customer on December 1, Year 1, with payment of 20,000 crowns 20,000 crowns to be made on March 1, Year 2. Budvar enters into a f
Q. What is Auditors report explain? Special Report - Special report is a term used for Auditors' reports issued in connection with various types of financial presentations, inc
Annulment of order The order may be annulled if In the opinion of the court the debtor ought not to have been adjudicated bankrupt; All the debts have been paid in fu
Dealing with changes in the trust Profits or losses on disposal of investments should be treated as belonging to that part of the fund out of which they accrued. If not app
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