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Where the liabilities are identified but the amounts cannot be precisely found, we estimate the liability and give for it as a liability. A common illustration is income tax payable. Unless the tax liability is found the amount payable cannot be exactly determined. There could be other illustrations too, such as product warranty expenses to be met and rapidly. The common practice is to evaluate these liabilities depends on past experience and make a provision for the same that is demonstrated as a part of liabilities.
XYZ Company is a family-owned bicycle manufacturing company located in Stow, Ohio. Until recently,it had maintained slow but steady growth in producing and marketing its only prod
Why is it important for financial statements and other external reports to be based on generally accepted accounting principles?
(a) Calculate the number of US imports with and without the tariff. (b) Calculate the dead weight loss of the tariff. (c) Calculate the loss in consumer surplus resulting fro
The profit volume ratio of xltd. is 50% and the margin of safety is 40%.you are required to calculate the net profit if sales volume is rs.100,000?
Suppose that $4 million is available for investment in three projects. The probability distribution of the net present value earned from each project depends on how much is invest
Material Usage Variance (MUV): This is the variation between the actual quantity of material consumed and standard quantity which should have been consumed, expressed in terms
how to prepare that project
what is labour
ln an attempt to conceal a thefi of funds, Kaito Kid, controller of Shinichi Products, lnc. placed a bomb in the company s record vault. The ensuing explosion left only fragments o
#ques Case Study Electron Control, Inc., sells voltage regulators to other manufacturers, who then customize and distribute the products to quality assurance labs for
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