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Q. What is accounting system?
Accrual basis, system, or method -- an accounting system which records revenues andexpenses at the time when transaction takes place,not at the time when cash changes hands. If you purchase acoat and charge it, store records or accrues the sale when you walk out with that coat, notwhen you pay your bill. Cash basis accounting is used by individuals. Accrual basis accountingis used by most businesses.
How do you do cross-indexing?
Q. What is depreciable amount? The dissimilarity between assets's cost and its estimated residual value is an asset's depreciable amount. To persuade the matching principle the
Q. Show Periodicity concept? As per to the periodicity (time periods) concept or assumption an entity's life can be meaningfully subdivided into time periods (such as months or
Q. Effects of failing to prepare adjusting entries ? Failure to organize proper adjusting entries causes net income and the balance sheet to be in error. You are able to see the
Why it is important for independent auditor to be a member of a professional body?
I need help understanding and filling out an income statement packet!
The widget industry is perfectly competitive. The industry demand and supply functions for widgets are given below. Q d = 424 - 40P Q s = 40 + 8P a. What is the equi
Notes to financial statements
Is the interest on a note receivables recorded if paid prior to the due date? A. Debit to interest expense B. debit to interest payable C. Credit to interest receivable D. Credit
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