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What is Acid-test ratio
A measurement of the capability of a business to meet its short-term commitments. It is considered by dividing excluding stock, current assets, by current liabilities. Current assets are also known as trade debtors or amounts due from customers, cash balances, & short-term investments that may be easily converted into cash. Current liabilities is mainly include amounts due to suppliers, bank overdrafts or amounts due for unpaid expenses such like telephone bills and PAYE.
"Government departments should take audit report seriously by preparing annual financial statement on time".... Based on the above statement, suggest ways on how government depa
Question posted on your website
Explain:- Q.1 Explain the ways in which the needs of internal and external users of accounting information are the same and different. Q.2 Why is it important for financial sta
Exceptions to the rule of lapse There is no lapse in either of the following cases: 1. Where the gift or disposition is made in discharge of a moral obligation recognised by t
Trust There is no generally accepted definition of a trust, although many have attempted. Underhill defines a trust as"an equitable obligation binding a person (who is called a
EXAMPLES OF HOW VAT SYSTEM WORKS
The objective is to assess the incentive to acquire information on consumer characteristics. We consider a monopoly. The firm incurs no production cost. There are M consumers with
Disclaimer The liquidator may disclaim onerous property consisting of: 1. Land burdened with onerous covenants; 2. Stocks and shares; 3. Unprofitable contracts, or 4.
Go to your assigned corporation's website and access their latest annual report. Answer the following questions regarding their derivative and foreign currency transactions. 1.
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