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How vital does Accounts receivable for small business and why?
Ans) Accounts Receivables help small businesses by giving short-term liquidity. Also continued sales on credit give the much required continuity for small businesses.
Q. Explain about Period costs? Period costs are costs not noticeable to specific products and expensed in the period incurred. Administrative and Selling costs are period costs
The organization's name is Coffee Affectionardo Pty Ltd and the company imports and sell various types of coffee machines, grinders, filters and beans. The business has two dir
How do you do journal entries for an item bought on credit and then later returned and the total selling price was 4,275.
Consumers and others: Consumers' organizations, welfare organizations, media and public at huge are also interested in condensed accounting information so as to appraise the effic
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
The information contained in published financial statements is of specific importance to external users, as shareholders and investors. Without any information they would not be ca
In the process of giving information from a business to a prospective buyer, an accountant is requesting a Reconsolidation for last December. What is that?
Rosco Company purchased 35,000 shares of common stock of Paxton Corporation as a long term investment for $900,000. During the year, Paxton Corporation reported net income of $300,
is accounting is an art or science
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