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Which of the following about debits and credits is false?A. Credits increase revenues, gains and bonds payableB. Debits increase salaries expense and prepaid expenses (prepayment assetsC. Credits increase dividends payable, but debits increase dividends declaredD. Debits increase assets.E. Credits increase liabilities, expenses and losses
Q. Concepts of accounting? - The major underlying assumptions or else concepts of accounting are (a) business entity (b) going concern (continuity) (c) money measurement (d) st
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
What is procedure for testing after implementation as functional consultant? Ans) Testing involves a step by step check of several transactions configured in the SAP system.
Q. Explain about Accrued liabilities? Accrued liabilities are liabilities not so far recorded at the end of an accounting period. They represent responsibility to make payments
“Ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account.”
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Jane has a $35,000 bank loan that she wishes to pay off in five equal annual payments with 12% interest. If the first payment is due one year from today, what will be the amount
While perusing medical practice, is the cost of supplies, for patients on site, considered as an inventory, or an incidental cost? With 2 million in sales the chemotherapy medicine
Describe in brief about the Wholesalers They buy goods in bulk from manufacturers and sell them to retailers, other schools, wholesalers and other non-profit institutions, and
what all things do we have to treat in revaluation account
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