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The basic functions of a balance sheet are: 1. It provides the financial place of a company on any given date 2. It provides the liquidity picture of the concern. 3. It p
what are welfare payments or consumer subsidies
Q. What is Consistency? Consistency in general requires that a company use the same accounting principles and reporting practices through time. This concept disallows indiscrim
Classify the following items as (a) deferred expense (prepaid expense), (b) deferred revenue (unearned revenue), (c) accrued expense (accrued liability), or (d) accrued reven
You have been assigned to analyze the costs of NC Microelectronics, a microchip manufacturer. Indicate whether the following costs are more likely fixed (F), variable (V), or mixed
Q. Change in accounting method for inventory? Occasionally companies vary inventory methods in spite of the principle of consistency. Improved financial reporting is the merely
Q. Explain about Classified income statement? An unclassified income statement has merely two categories revenues and expenses. In contrast a classified income statement divide
What steps would you take before approving an invoice for payment? Ans) Following steps should be taken.. ? Certify the invoice once it is matched for checking any holds..
Cash Book: It is one of the Subsidiary Book which is usually used by any business organisation to record all the cash transactions which helps to know the cash position as and when
Why to and by using in journal, trading a/c, p&l a/c and ledger?
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