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Illustrate about the matching principle
This principle requires that expenses and revenue be recorded in accounting period in which they occur. For a net income figure to be accurate, it must be a result of subtracting expenses of a period from the revenue of the same period.
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Buyer's Direct Mills (BDM) Inc. is a century old textile company that takes raw cotton and spins it into cotton yarn. This yarn is in turn purchased by weaving companies which prod
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is money deposited to the municipality for electricity current assets
Q. Explain about Going-concern concept? Except strong evidence exists to the contrary accountants assume that the business entity will continue operations into the indefinite
Q. What is sales transaction? - In a sales transaction the seller transmits the legal ownership (title) of the goods to the buyer. - An invoice is a document prepared by the
Q. What do you understand by Deferred income? Deferred income -- a liability which arises when a company is paid in advance for services orgoods that will be provided later. Fo
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Q. What is Managerial accounting information? A Managerial accounting information is for internal use and provides special information for the managers of a company. The inform
i need to pay rent for 3 year 2011,2012,and 2013. am in 2012 1 December. what entries will be there for rent account and the rant account balance amount
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