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Which ratio measures a business' average payment period? A. current ratio B. liquid ratio C. trade payables turnover D. trade receivables turnover
Inventory Within a trading firm, inventory is merchandise held for sale to customers into the ordinary course of business. In condition of manufacturing firms, inventory would
Dear Sir, I am an accountant working in a company with limited liability (WLL), one of the partners (A) will withdraw from our company. One of the existing partner (B) of the comp
It is generally taken to include currency or legal tender, cheques or any other document which circulates as cash. It is generally classified like a current asset while it is acces
a.Compute the number of preferred shares that were issued during 20X6, which is Preferred stock, $100 par value, 10% $580,000 $500,000
Loss and Profit Account is prepared so as to discern whether the firm has made net profit or suffered net loss for a specified accounting period. Such account deals along with indi
Governing Documents - Official legal documents which dictate how an entity is operated. Governing documents of a CORPORATION include ARTICLES OF INCORPORATION and BYLAWS; a PARTNER
The American Accounting Association is one of the accounting organizations discussed later in this Introduction it defines accounting as "the process of measuring, identifying, and
1. What is a bank? 2. What bank overdraft?
JWS Transport Company’s employees earn vacation time at the rate of 1 hour per 40-hour work period. The vacation pay vests immediately (that is, an employee is entitled to the pay
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