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Q. Define Current assets? Current assets are cash and other assets that a business is able to convert to cash or uses up in a relatively short period one year or one operating
Q. Consistency in accounting principle? Consistency necessitates that a company use the same accounting principles and reporting practices through time. Consistency makes possi
Q. Define about Assets and Liabilities? Assets are feasible future economic benefits obtained or controlled by a particular entity as a result of past events or transactions.
Scanlon Technologies, Inc. Anne Scanlon founded Scanlon Technologies, Inc., in 1993. The company designed andmanufactured high-tech products that were used in various industrie
Q. Show double-entry procedure or duality? In every business transaction we record the total dollar amount of debits must equal the total dollar amount of credits. While we deb
How do you do cross-indexing?
t. liabilities ratio is the same as debt equity ratio?
Q. Explain about cost principle? As applied to largely assets this principle is often called the cost principle. It utter that purchased or self-constructed assets are initiall
Q. What is Passage of title in transpotation? Passage of title is a term that point to the transfer of the legal ownership of goods. Title to the goods usually passes from sell
Q. Explain about Sales account? In theory sellers could record both sales allowances and sales returns as debits to the Sales account for the reason that they cancel part of th
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