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A business may perhaps engage in thousands of transactions during a year. An accountant summarizes and classifies the data in these transactions to create useful information.
is accounting is an art or science
Why to and by using in journal, trading a/c, p&l a/c and ledger?
Q. What is Timeliness? The Timeliness requires accountants to provide accounting information at a time when it perhaps considered in reaching a decision. Usefulness of informat
What is the full disclosure principle
Question Social accounting is a way of calculating and reporting on an organisation's ethical and social performance. It is principally concerned with offering a complementary
Closing Entries based accounting question a) Describe the nature of Closing Entries. I.e. what is the purpose of closing entries? b) For each of the f
An accounting ledger that reveals the transaction history and amounts owed independently for each supplier from whom the business gets credit for purchases. The balance in the cust
determine how the disallowance of LIFO will impact U.S. multinational firms that report under IFRS
Q. What is Accounts Receivable account? Envisage a company with an Accounts Receivable account and an Accounts Payable account in its general ledger as well as no Accounts Rece
example of increase asset, decrease owner equity
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