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Q. What do you mean by Liabilities?
Liabilities are the debts outstanding by a business. Usually a business should pay its debts by certain dates. A business acquires many of its liabilities by purchasing items on credit. Metro's liabilities contains of accounts payable amounts owed to suppliers for previous purchases and notes payable written promises to pay a specific sum of money totalling USD 6600. Metro Courier Inc is a company. The owners' concern in a corporation is referred to as stockholders' equity. Metro's stockholders' equity comprise of USD 30,000 paid for shares of capital stock and retained earnings of USD 2,100.
Internal control devices for banking activities include signature cards, deposit tickets, checks, and bank statements. 01.) True 02.) False True or False?
A business may perhaps engage in thousands of transactions during a year. An accountant summarizes and classifies the data in these transactions to create useful information.
Q. Illustrate a sales cycle of company? When exploratory a company's management, sales cycle and users of financial data must be aware of any seasonal changes that may affect i
How do you round up to one decimal point using percentages? Example 0.207 Thanks
Q. Illustrate accumulated depreciation account? Micro Train place depreciation expense in its income statement and it reports accumulated depreciation in the balance sheet as a
What is the accounting equation?
Which of the following is NOT one of the key requirements for auditor independence? A. Auditors must disclose all other written communications between management and themselv
Goodwill is an intangible asset of a organization which contains company reputation, fame etc., By goodwill company share value may enhances
Why to and by using in journal, trading a/c, p&l a/c and ledger?
Q. External users of accounting information? The external users of accounting information grouped into groups; everyone has different interests in the company and wants answers
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