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Q. Advantages and Disadvantages of LIFO? LIFO: Advantages (a) LIFO reports both sales revenue and cost of goods sold in current dollars and (b) lower income taxes result if use
types of legancies
cross indexing is made up of
Q. How does asset cash increase? An asset cash increases (debited) as well as a liability unearned service revenue increases (credited) by USD 4500. The credit is to Unearned S
when creating a trial balance, which account balances carry over from previous months
Q. What is Prepaid rent explain with example? Prepaid rent Prepaid rent is another instance of the gradual consumption of a previously recorded asset. Suppose a company pays re
beginning inventory,purchase,and sales data for commodity A are as follows november 1 inventory 1500units @k20.00 2 sold 5000unit @ 40.00 12 purchase 10000 units @22
the books of deven verma could not be tallied.the accountant transferred the difference of Rs.1270 in the suspense account on the debit side the following mistakes were found later
Internal control devices for banking activities include signature cards, deposit tickets, checks, and bank statements. 01.) True 02.) False True or False?
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