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The conflicting interests of users We have seen above that every user group looks at a business from a different perspective and has its own individual interests. This means th
Problems due to Piecemeal realizations These interim distributions give rise to two problems: Partners have not always contributed capitals in the same ratio as that in w
MUTUAL DEALINGS A right of set-off is allowed where there have been - (a) Mutual credits, debts or other dealings resulting in pecuniary liabilities, (b) Between the debtor an
UNREALIZED PROFIT ON CLOSING INVENTORY Where one company has bought goods from another company in the group and part of these goods are included in the closing inventory, then t
Attribution When individuals monitor performance they attempt to determine if it is inner or outer caused. "Inner caused" means 1 believes that an event was under the personal
What points is necessary to meet users requirements To meet these users' requirements, it can be argued that accounting information must possess certain key qualities, or chara
Q. Explain briefly the role of computers in accounting? Computers can be used as accounting machines and perform all the functions which accounting machines perform. Some of th
Q. What is Capital Gain? Capital Gain - Portion of total GAIN recognized on the sale or exchange of a no inventoryasset that isn't taxed as ORDINARY INCOME. Capital gains have
Financial Analysis For Managers’ Assignment
Personal representatives powers Personal representation shall have the following powers: 1) To enforce for the deceased's estate by suit or otherwise all causes of action that
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