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Q. Describe Exceptions to the realization principle?
Exceptions to the realization principle: The following illustrations are instances when practical considerations may cause accountants to vary the point of revenue recognition from the time of sale. These examples show the effect that the business environment has on the development of accounting principles and standards.
Any activity which you perform is assist if you comprise a set of rules to guide your efforts. Moreover, you determine that these rules are of more value to you if they are standar
The measurement of expense Accountants measure largely assets used in operating a business by their historical costs. Consequently they measure a depreciation expense resulting fro
In accounting, only those facts that can be expressed in terms of money are recorded. When money is accepted not merely as a medium of exchange but also as a measuring rod of value
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When buying an owner operated business from a franchised organization is the previous store manager''s salary discretionary?? can they count that as net income to the new owner op
Q. Explain about Modifying conventions? In certain examples companies don't strictly apply accounting principles because of modifying conventions (or constraints). Modifying co
In addition, assume that Anheuser-Busch InBev sold 200 million barrels of beer during the year. Assume that variable costs were 75% of the cost of goods sold and 40% of selling,
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.
contractee account is it an assets account or expenses Account
Ask question Discuss the export financing under the deferred payment system.#Minimum 100 words accepted#
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