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Q. Example of physical inventory?
Taking a physical inventory may perhaps disrupt the normal operations of a business. Therefore the count should be administered as quickly and as efficiently as possible. The actual taking of the inventory isn't an accounting function though accountants often plan and coordinate the count. Proper forms are required to record correct counts and determine totals. Identification names or else symbols must be chosen and those persons who weigh, count or measure the inventory items must know these symbols.
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They are likely to tests for tact, diplomacy, and with descriptive skills.
Workout Expenditures Professional fees (legal, accounting, appraisal) paid to entities unaffiliated with the investment company's advisor or sponsor in connection with any of t
Q. What are Bad debts? Bad debts -- amounts owed to a company which aren't going to be paid. An accountreceivable becomes a bad debt when it's recognized that it won't be paid.
Q. Learning objectives of current ratio? - Analyze the transactions by examining source documents. - Journalize the transactions in the journal. - Post the journal entrie
Q. Example of Income statement? Income statement demonstrates the income statement Lyons prepared. The focal point in this income statement is on determining the cost of goods
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exploration costs for mining companies are assets?.
Q. FIFO under periodic inventory procedure? The FIFO (first-in, first out) method of inventory costing suppose that the costs of the first goods purchased are those charged to
State the term- Liabilities Current Liability is a debt which is due for payment within one year. Long-term liability is one NOT paid in a year. OWNER'S EQUITY Also
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