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What is accounting?
Accounting is concerned with analysing, collecting as well as communicating financial information. Purpose is to help people who use this info to make more informed decisions. If financial information which is communicated isn't capable of improving the quality of decisions made, there would be no point in producing it. Sometimes impression is given that purpose of accounting is basically to prepare financial reports consistently. Though it's true that accountants undertake this kind of work, it doesn't signify an end in itself. Ultimate purpose of the accountant's work is to give people better financial information on which to base their decisions.
Completed executions A judgement creditor cannot retain the "benefit" of an execution or attachment, unless he has completed it- Before the date of the receiving order,
A gift of residue Where property is not given by a specific legacy nor by a general legacy, it makes up the residue of the testator's estate. If the testator fails to make a g
Q. Investors advantage from financial intermediation? Investors advantage substantially from financial intermediation because: (a) By investing in a market or bank investors
Holding company with a direct shareholding in sub-subsidiary company Under this type of structure, both the holding and subsidiary company have some shareholding in the sub-subsi
Q. What do you mean by Operating Agreement? Operating Agreement - Agreement, generally a written document which sets out the rules by which a LIMITED LIABILITY COMPANY (LLC) is
The Rohr Company's old equipment for making subassemblies is worn out. The company is considering two alternatives: a) Completely replacing the old equipment with new equipment
Defunct Companies A company may be dissolved under s.338 without winding up if the registrar has reasonable cause to believe it is defunct: The procedure is: a. Registrar writ
The following accounts and balances have been taken from the general ledger trial balance of Daiton Repairs Limited as at October 31, 19×2, after its first year of operation. Adjus
#questionWise Owls, an NFPO, began operations at the beginning of 20X1 to provide free tutoring and homework assistance, as well as a nutrition program, to low-income immigrant chi
1. Prepare three years of monthly cash budgets, yearly income statements, and yearly balance sheets for the jewelry business Daisy & Company. General Information: 1. Th
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