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Fundamentals of accounting 1, Accounting Basics
Posted Date: 9/25/2012 9:50:04 PM | Location : United States
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Detailed steps for completing the work sheet, Q. Detailed steps for complet...
Q. Detailed steps for completing the work sheet ? Accountants use these preliminary steps in preparing the work sheet. The following segments describe the detailed steps for com
Imprest system, at the end of May he has a voucher for expenditure of $270 ...
at the end of May he has a voucher for expenditure of $270 and a balance in hand of $30. explain what the imprest amount is
General rationale financial statements, General rationale financial stateme...
General rationale financial statements provide much of the information needed by external users of financial accounting. These financial statements are official reports providing i
Explain about lower-of-cost-or-market method, Q. Explain about lower-of-cos...
Q. Explain about lower-of-cost-or-market method? The lower-of-cost-or-market (LCM) method is the inventory costing method that values inventory at the lower of its historical c
What is sales revenues, Q. What is Sales revenues? The sale of goods ta...
Q. What is Sales revenues? The sale of goods takes place between two parties. The seller of the merchandise transfers them to the buyer in exchange for cash or a promise to pay
Determine about the sales returns and allowances, Determine about the Sales...
Determine about the Sales returns and allowances Allowance results when a buyer decides to keep defective or damaged goods though at a reduction from the original price.
What is investment banking, Investment banking is a is an instrument which ...
Investment banking is a is an instrument which is used by the financial organization to take a improved investment decision like issuing IPO stocks bond etc.
What do you mean by net sales, Q. What do you mean by Net sales? We dem...
Q. What do you mean by Net sales? We demonstrate a condensed income statement to emphasize its major divisions. Next, we explain the more complete income statement actually pre
Departures from cost basis of inventory measurement, Q. Departures from cos...
Q. Departures from cost basis of inventory measurement? In general companies must use historical cost to value inventories and cost of goods sold. But some circumstances justif
Marginal costing, Which statements about marginal costing are correct? 1...
Which statements about marginal costing are correct? 1. The marginal cost of a product involves an allowance for fixed overheads. 2. The marginal cost of a product presents t
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