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Accounts are prepared according to accounting concepts, principles and conventions. As final accounts are prepared on accrual basis, this becomes essential to subtract all those expenses that are basically paid during the current financial year though applicable to the other accounting periods. And to add all those expenses, that benefit the current accounting period either the payment was form or not. As same in case of earnings, subtract all such revenue items, obtained in the current accounting period but appropriate to the other accounting period s. Add all those revenue items, that have been earned currently but not even been received. The over stated corrections in the final account are termed as Adjustments that are made with the help of adjusting entries. Adjustments make sure a proper matching of costs and revenue for obtaining correct loss or profit for the specified accounting period.
Series Arithmetic Mean Standard Deviation Small-company stocks 15.9 % 32.8 % Large-company
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An industrial drill costs $60.000 to purchase and $10,000 to install seven years ago. The market value now is $33.000 and this will decline by 12% of current value each year for th
what is labour
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In this section we have tried to develop the concept of flow of funds inside the organization. Starting along with the funds requirement for an organization, we have tried to trace
Q. Calculate break-even level of sales volume and revenue? Z-Boxes sell for £299 and their variable production cost is £99. Research and development, and fixed production overh
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