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Q. What is Asset?
Asset - An economic resource which is expected to be of benefit in the future. Probable futureeconomic benefits attained as a result of past transactions or events. Anything of value to whichthe firm has a legal claim. Any owned intangible or tangible object having economic value usefulto the owner.
What are the Advantage of limited liability Advantage of limited liability, though, imposes certain obligations on such companies. To start up a limited company, documents of i
CarloffCremes (CC) planned to sell 40,000 Queen size at $20 each and 20,000 King size at $15 each. Actual sales of the former were 45,000 and 25,000 of the latter, at $19 and $16 r
Omission to do something which a reasonable man, guided by those ordinary considerations that ordinarily regulate human affairs, would do or doing of something that a reasonable an
Robin Corporation accepted credit cards for $34,200 of services performed in October 2011.The credit card company charged a 3% service fee and paid Robin as soon as it received the
Calculation of BEp
Prepare a year trading cash budget: Gary Hart needs to calculate how much working capital he will need in his first year as a restaurateur. An accountant friend recommends he
Under this system all stock levels are reviewed after fixed time duration, depending upon the significance of the item. Imported items may need a shorter review cycle, while slow m
Related Party Transaction - Business or other transaction between persons who don't have an arm's-length relationship (for example a relationship with independent, competing intere
The objective of this project is to demonstrate the effect of releasing accounting information concerning profits on the valuation (i.e. share price) of an Australian;listed compan
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
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