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Question:
In each case below and having regard to your knowledge of Accounting Concepts, comment on and assess the validity of the accounting implications/practices to be adopted by these businesses:-
(i) Mr. Goldman is a very skilled and artistic Jeweller who has won various exhibition prizes. He considers himself to be the most important asset that his workshop could possess. Consequently, he has instructed his accountant to include his "knowledge and skill" as an Asset in the Balance Sheet of the business.
(ii) The Debtors figure in the books of "Electric Appliances Ltd." includes an amount of Rs 5,000 owed by one Mr. Jackson since some three years now. Various appeals have been made to him to settle the debt but to no avail. A final reminder was sent to him by post but the letter was returned to sender with the mention "Gone Away".
(iii) While preparing the Final Accounts of "Maxi Stone Crusher Ltd." for the year ended 30th June 2005, you read in the Newspapers that the License of this Stone Crushing Company will not be renewed after its present expiry date i.e. 30th September 2005 because the place where it is located has been declared a "Residential Zone".
B. Describe what do you understand by:
(i) A Revenue Centre; and (ii) A Cost Centre; (iii) An Investment Centre. and give an example in each case.
you would like to purchase a new car in 3 years.The current value of the vehicle you would like to purchseis 100000.The manufacturer of the vehicle has advised you,that the cost of
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A researcher develops a regression model to understand how student-to-teacher ratios affect test scores. The researcher theorizes that age, gender, and race do not impact test scor
Q. What do you mean by Financial Leverage? Financial Leverage: - The financial leverage perhaps defined as the tendency of the residual net profit to vary disproportionately wi
Question: (a) Consider that rate of interest is 10% and you are offered either a discount bond paying you $5,000 in 5 years or a fixed-payment loan paying you $750 per year for
How might management try to solve the problems found in agency theorem
theory
Solutions to this Conflict In common, to make sure that managers act to the best interest of shareholders, the firm will: (a) Acquire Agency Costs in the form of:
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