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Q. What is Cost-benefit?
Cost-benefit The cost-benefit consideration engrosses deciding whether the benefits of including optional information in financial statements exceed the costs of providing the information. Users are apt to think information is cost free since they incur none of the costs of providing the information. Preparers apprehend that providing information is costly. The benefits of using information must exceed the costs of providing it. The measurement of benefits is imprecise which makes application of this modifying convention difficult in practice.
Ryan's Express has total credit sales for the year of $178,000 and estimates that 3% of its credit sales will be uncollectible. Record the end-of-period adjusting entry on Decemb
WHAT DO YOU MEAN BY ACCRUAL CONCEPT
Stewart Company sold 180 units @ $320 each on October 31, 2012. Cash selling and administrative expenses were $15,000. The following information is also available: The
the scope of operation research in modern management
Q. What do you mean by Not-for-profit organizations? Not-for-profit organizations such like charities, fraternities, churches, and universities need accountants to record and a
Explain the types of Financial Statements Income Statement . This is a summary of a business's expenses and revenue for a specific period of time. It ONLY shows expenses and r
Q. What is Prepaid expense? A prepaid expense is an asset pending assignment to expense such as prepaid rent, prepaid insurance and supplies on hand. Note that the character of
tugade ,masinsin and biore are all famous athletes who have been operating a sports memorabilia store for how many years .The partnership decided to liquadate its operation rather
effects of technology in banking sector
Q. Example of perpetual inventory procedure? The Perpetual inventory procedure Companies use perpetual inventory procedure in a range of business settings. In the past companie
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