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Enumerate the fundamentals of financial accounting information Frame works and principles which have been developed try to address fundamental questions like: ?Who are user
Q. Explain business entity concept? Suppose for instance that you own two businesses 1) a physical fitness centre and 2) a horse stable. As per to the business entity concept y
You should have recorded in your cash books all amounts you've really received and payments you've really made. Though the cash books may be incomplete as your bank may have put ex
Q. Explain Vertical analysis? Vertical analysis demonstrates the percentage that each item in a financial statement is of some significant total such as total assets or sales.
Q. Explain about Classified income statement? An unclassified income statement has merely two categories revenues and expenses. In contrast a classified income statement divide
Which of the following transactions does not involve an exchange of value? a. Payment of a debt b. Purchase of a building on credit c. Borrowing money d. Loss from theft
The book of Deven Verma could not be tallied. The account transferred the difference of Rs. 1.270 in the suspense account on the debit side. the following mistakes were found later
Compute each of the following amounts Company reported current assets of $80,000, non-current assets of $350,000, current liabilites of $32,000 and long term liabilities of $120,00
Assume we had given tour advance to party how to treat entry and which head have to given expenditure? Ans) Cash/Bank a/c DR To Party(name)a/c (Advance Paid For Tour)
Q. Explain about Accrual basis and periodicity? Accrual basis and periodicity demonstrated that financial statements more accurately reflect the financial status and operations
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