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Q. What is Net realizable value?
Companies must not carry goods in inventory at more than their net realizable value. Net realizable value is the approximate selling price of an item less the estimated costs that the company incurs in preparing the item for sale and selling it. Obsolete, Damaged or shopworn goods often have a net realizable value lower than their historical cost and must be written down to their net realizable value. But goods don't have to be obsolete, damaged or shopworn for this situation to occur.
Technological changes as well as increased competition have caused significant reductions in selling prices for such products as DVD players, computers, TVs and digital cameras.
You have been engaged internal auditor by the management of Alden proprietary limited to review its internal control over the purchases, receipt, storage and issue of raw material.
Q. Neutrality of accounting information? The Neutrality signifies that the accounting information must be free of measurement method bias. The primary concern must be relevance
Prepare a Multiple-Step Income Statement based on the information presented in problem 4 above. Answer :
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Q. Learning objectives of Horizontal and vertical analysis? - An account is a storage element used to classify and summarize money measurements of business activities of a simi
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Q. Show accounting deception situations? In 2002 The Sarbanes-Oxley Act was approved. The Act was approved as one result of the large losses to the employees and investors from
Assignment Comments – Debt-to-assets ratio: 50% Current Ratio: 1.8x Total assets turnover: 1.5x Days sales outstanding: 36.5 days* Gross profit margin
Q. Gain and loss recognition principle? The gain and loss recognition principle states that we record gains merely when realized but losses when they first become evident. Ther
A part of Deeper Coral's income is earned from conducting diving lessons. Level Lesson Type Fee per hour I Intro
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