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A company values its loose tools for inclusion in its balance sheet. The tools are not extremely valuable and the company uses estimating while valuing them.
Which type of accounting principle is being applied?
A accruals B consistency C going concern D materiality
Explain the procedure followed in government system of accounting in india
1. Trading account is prepared so as to calculate gross profit or loss, whereas the function of the profit and loss account is to disclose net profit or loss. 2. Trading account
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
Which ratio measures a business' average payment period? A. current ratio B. liquid ratio C. trade payables turnover D. trade receivables turnover
A firm of manufactures, whose books are closed on 31st December, purchased machinery for Rs.50,000 on 15 January, 2010. Additional Machinery was acquired for Rs.10,000 on 1st July,
what all include in company revenue recoganisation
1. What is a bank? 2. What bank overdraft?
Fixed Assets These are tangible, relatively long-lived items owned through the business. The benefit of these assets is obtainable not only in the accounting period wherein the
Organize the Trading Account from the subsequent details: Office Rent Rs. 5,000;Purchases Rs. 80,100; Opening stock Rs.25, 000; Stock at the end Rs. 15,000; Carriage Inward Rs.
The first municipal bond insurance company was created in 1971 as a supplementary of MGIC Investment Corp. of Milwaukee; now usually called as Ambac Financial Group, Inc. The Ameri
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