accounting terminology, Accounting Basics

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what the accounts maintained in retail business

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Objectives of financial reporting, Q. Objectives of financial reporting? ...

Q. Objectives of financial reporting? Financial reporting objectives are the broad overriding objectives sought by accountants engaging in financial reporting. According to the

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Compensation for the uncertainties inherent in supply and demand

Preparing a separate trial balance, Q. Preparing a separate trial balance? ...

Q. Preparing a separate trial balance? As an alternative of preparing a separate trial balance as accountants uses the Trial Balance columns on a work sheet. The numbers and ti

the specific citation for accounting , Corporations frequently invest in s...

Corporations frequently invest in securities issued by other corporations. Some investments are acquired to secure a favorable business relationship with another company. On the ot

Acme inc. has total liabilities of $120, Acme Inc. has total liabilities of...

Acme Inc. has total liabilities of $120,000, total sales of $80,000, net income of $12,000, current assets of $90,000 and total assets of $150,000. What is the debt to equity rat

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got 1 question for accounting for business its a 25 min question? can you help in this?

Determine the terms of recording sales of merchandise, Determine the terms ...

Determine the terms of Recording sales of merchandise The SALES ACCOUNT is a temporary account with a normal credit balance. It's ONLY used to record sale of merchandise on

Accounting, Accounting Accounting has evolved and emerged within respo...

Accounting Accounting has evolved and emerged within response to the social & economic requirement of the society. The accounting procedure has its own syntax. The primary sys

Common deductions from gross sales, Q. Common deductions from gross sales? ...

Q. Common deductions from gross sales? Generally sales are for cash or on account when a sale is for cash the debit is to Cash and the credit is to Sales. While a sale is on ac

What is accounts receivable, Q. What is Accounts receivable? Accounts r...

Q. What is Accounts receivable? Accounts receivable as well called trade accounts receivable are amounts owed to a business by customers. An account receivable occurs when a co

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