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Personal accounts --> Debit the benefit receiver, credit the benefit giver
Real accounts --> Debit what comes in, credit what goes out Nominal Accounts --> Debit all expenses and losses, credit all incomes and gains
“Ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account.” Elaborate and explain why journal is necessary.
what all things do we have to treat in revaluation account
What is the implication of applying accounting concepts wrongly
DEFINITION OF COST ACCOUNTING DEFINITION: as said by the Institute of Cost and Works Accountants (ICWA), London, Cost accounting is " the method of accounting for costs from t
What is the typical time span for long-range plans? A. More than 1 year C. 3-5 years B. 2-3 years D. About 25 years
Q. Explain Periodicity assumption of accounting? As-per to the periodicity (time periods) assumption accountants divide an entity's life into months or years to report its econ
Q. What is Timeliness? The Timeliness requires accountants to provide accounting information at a time when it perhaps considered in reaching a decision. Usefulness of informat
need to get assignment done, its corporate accounting.
10% preference share 336 ooo ordinary share capital 480 000 prepare a statement of profit or loss
Q. Explain about trade discount? A trade discount is a percentage deduction or else discount from the specified list price or catalogue price of merchandise. Companies utilize
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