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Question 1 Briefly explain the functions of accountingQuestion 2 Explain the three branches of accountingQuestion 3 What is single entry system? What are the advantages and disadvantages of Single entry system?Question 4 Briefly explain the types of business transactionQuestion 5 What do you mean by Bank reconciliation statement?Question 6 What are the different classifications of error?Question 7 How do you rectify the error?Question 8 Briefly explain the characteristics of Bill of exchange
Explain the Terms of Payment Revolving charge plans are set up so that you can pay a percentage plus a finance charge on a monthly basis. Credit terms - allow purchaser a
The cost of goods sold section Cost of merchandise sold to customers during a period is subtracted from net sales figure for the same period to get amount of gross profit. (Ne
Ask question Discuss the export financing under the deferred payment system.#Minimum 100 words accepted#
Q. Example of Net purchases? Only the description would change. If Hanlon had previously paid the account the debit would be to Cash instead of Accounts Payable ever since Hanl
Why is it important for accounting information to be accurate and timely?
Q. What do you mean by Contingent liabilities? Contingent liabilities -- liabilities which are not recorded on a company's financial reports though whichmight become due. If a
Derivative instrument is an asset which develops i.e. takes its origin from another asset. The simplest form of derivative is a forward contract, "It is an agreement to buy or s
Finance Officer: the life blood of business is Finance. Procuring financial resources and their judicious utilization are the two significant activities of financial management. F
You won a lottery which pays $10,000 per year for 10 years (at the end of each year). Assuming a discount rate of 8% calculate the present value of your expected winnings
current and non current liabilties
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