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Trading account is ready to ascertain the Gross Profit and Loss of a firm; here Gross Profit is the excess of total revenue over cost of goods sold as the credit side of the tradin
Question : (a) In relation to a non-profit organization describe social accounting and describe its main aims. (b) What are the needs an organisation wants to satisfy throug
Question : (a) One of the characteristics of an agent is "proactiveness". Briefly explain the effect of this characteristic. (b) Give an example of a purely reactive syste
These comprise goods purchased only for production and selling purposes. Goods utilized as assets and not for sale are not comprised in this head. Net purchase is the dissimilarity
Currently I can represent my financial position in the subsequent form: Financial Position Statement 1 Amount owned by me
Q. Accounting Education Change Commission? Accountants in practice as well as business executives have generally been dissatisfied with accounting graduates' capability to thin
The term goods refer to articles that are traded through the firm articles bought for resale. For illustration, for book seller, books are goods, for an electrical store fans, fo
1) List every item debited or credited in the Profit and Loss account. 2) Illustrates the difference among Trading Account and Profit and Loss Account. 3) Illustrates t
If I sold aan asset before its matured perid what will be it''s Depreciation schedule?
We have a demonstration instrument that was paid for years ago. How do we get it back on our books as an asset?
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