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Q. What is FOB destination? FOB destination signifies free on board at destination. The seller ships the goods to their destination with no charge to the buyer. Therefore the s
Q. What is Sales revenues? The sale of goods takes place between two parties. The seller of the merchandise transfers them to the buyer in exchange for cash or a promise to pay
Profitability refers to a company's ability to obtain profits and positive cash flows and to its ability to obtain an adequate return on invested capital or a company's ability to
Details: Costing products is a matter of considerable importance to organizations. The need for accurate product costs ranges from cost identification for inventory valuation purp
a decrease in owner''s equity may result from a(n) a. purchase of office supplies for cash b. withdrawal of cash from the business by owner c. revenue that is derived from sales of
Q. Example of Periodic inventory procedure? Periodic inventory procedure Merchandising companies selling small unit value merchandise such like nuts and bolts Christmas cards n
Difference between Fica and federal income taxes Employers should file Form 940 with the IRS at the end of every calendar quarter. There are several rules about when to turn i
Jan. 1 Purchased a small company and recorded goodwill of $150,000. Its useful life is indefinite. May 1 Purchased for $90,000 a patent with an estimated useful life of 5 years an
Under both GAAP and tax depreciation, an asset cannot be depreciation until it has been
How do you do cross-indexing?
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