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Q. Explain the Matching Principle?
Matching Principle - A basic concept of basic accounting. In any one given accounting period, you must try to match the revenue you are reporting with expenses it took togenerate that revenue in same time period, or over periods in that you will be receiving benefits from that expenditure. A simple example is depreciation expense. If you purchase a building which will last for many years, you don't write off the cost of that building all at once. In its place, you take depreciation deductions over the building's estimated useful life. Therefore, you've ‘matched' the expense, or cost, of building with the benefits it produces, over the course of years it will be in service.
Q. Define Strong form efficiency? In robustly efficient market finance directors will be alert to the fact that market prices are an accurate reflection of their company's fina
In January, 2008, Sanford Corporation purchased a patent for a new product for $1,200,000. The patent was valid for fifteen years but it was estimated to have a useful life of ten
Legal Aspects There is no law relating to branch accounts but examination problems under this heading are frequently linked to either partnership or company account problems. Ans
Part A: The following information relates to Company A's defined benefit pension plan during the current fiscal year: Plan assets (beginning of the year) $400 (all number are in $m
Montana Company signs a five-year capital lease with Elway Company for office equipment. The yearly lease payment is $20,000, and the interest rate is 8%. 1. Compute the cu
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Here is the income statement for Belding, Inc. BELDING Inc. Income statement for the year ended December 31, 2012 Sales $400,000 costs of goods sold 250,000 gross profit 150,000 ex
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