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Question: You have decided to borrow $20,000 so that you can consolidate the loans you currently have with other lenders. You have agreed to repay the loan in 8 equal semi-annu
Q. What is the use of balance sheet? Balance sheet -- a statement of the financial position of a company at a single specific time(often at the close of business on last day
Q. What do you mean by unearned revenue? A liability/revenue adjustment concerning unearned revenues covers situations in which a customer has transferred assets typically cash
Q. Explain about Cost of goods sold? Cost of goods sold is the main expense in merchandising companies. Note the cost of goods sold segment of the classified income statement i
Investment banking is a is an instrument which is used by the financial organization to take a improved investment decision like issuing IPO stocks bond etc.
Q. What is Consistency? Consistency in general requires that a company use the same accounting principles and reporting practices through time. This concept disallows indiscrim
example of increase asset, decrease owner equity
Q. Example of current ratio? The current assets and current liabilities and current ratios of some other companies as of the third quarter of 2001 were As you are able to se
What is the implication of applying accounting concepts wrongly
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