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Q. What is Fixed cost?
Fixed cost -- a cost that doesn't change as sales volume changes (in the short run.) Fixedcosts generally include such items as rent, interest, depreciation and any salaries unaffectedby ups and downs in sales.
Concept of 'Fund' : The word 'Fund' has a range of meanings. several people take it identical to cash and for them, there is no dissimilarity between Cash Flow and Funds Flow
contractee account is it an assets account or expenses Account
Q. Understand how to account for transportation costs? FOB terms are particularly important at the end of an accounting period. Goods in transit after that belong to either the
Control of independent demand inventory items
A tabular analysis of the transactions made during August 2010 by Witten Company during its first month of operations is shown below. Each increase and decrease in stockholders'
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Explain in brief about the purchases account keeps a record of cost of merchandise purchased for resale during an accounting period. Assets are recorded as assets-not pu
Closing Entries based accounting question a) Describe the nature of Closing Entries. I.e. what is the purpose of closing entries? b) For each of the f
Are mailing lists are considered as prepaid or period expens?
Q. Describe about accounting. Why is it called language of business? Accounting is known as -an art of recording, classifying and summarizing transactions and events in a si
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