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Q. A prior period adjustment that corrects income of a prior period requires that an entry be made toa. an income statement account.b. a current year revenue or expense account.c. the retained earnings account.d. an asset account.
CONSTRUCTIVE TRUSTS A constructive trust is a trust imposed by equity regardless of the intention of the owner of the property: it arises by operation of law. The concept has
what is use of accounting ratios?
speciman of accounts preparation in stock and debtor system.
Bakers Bagels LLC produces and sells 20 types of bagels by the dozen. Bagels are priced at $6.00 per dozen (or $0.50 each) and cost $.020 per unit to produce. The company is consid
Q. Illustrate Accounting ramifications? Accounting ramifications i) Restatement ii) Unable to file on timely basis while go back and determine what periods are effected
Q. A prior period adjustment that corrects income of a prior period requires that an entry be made to a. an income statement account. b. a current year revenue or expense account.
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A huge number of financial ratios are in utilized. They complete a broad variety of functions and objectives. Managers estimate performance and investors match their expectations,
Q. Determine Annual effective cost? (i) Payables policy One month cost of taking extended trade credit = 1.5/98.5 = 1.52% Annual effective cost = 1.015212-1 = 19.8%
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