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Q. Show Advantages and disadvantages of LIFO?
The advantages of the LIFO method are based on the fact that prices have risen almost constantly for decades. LIFO supporters claim this upward trend in prices leads to inventory, or paper, profits if the FIFO method is used. Inventory, or paper, profits are equal to the current replacement cost of a unit of inventory at the time of sale minus the unit's historical cost.
Q. Learning objectives of inventory turnover ratio? - Net income for an accounting period depends straight on the valuation of ending inventory. - If the ending inventory is
he chairperson of the accounting department has three summer courses available: Accounting 201, Accounting 202, and Accounting 305. Twelve faculty members are available for assign
Q. Explain about Purchase discounts? Purchase discounts frequently companies purchase merchandise under credit terms that permit them to deduct a stated cash discount if they p
What does receiving a bid do to your business records?
Start in cell E3. Complete the series of substitution values ranging from 5 to 15 at increments of 1, vertically down column E.
Q. What do you mean by single proprietorship? A single proprietorship is a non incorporated business owned by an individual and often managed by that same person. Single propri
A machine valued on the books at $8500 was sold on credit to $8000.
A method of expressing the relationship between one accounting result and the other, which is intended to give a useful comparison. Accounting ratios helps in measuring the efficie
Q. Dependability of information? Additionally to being relevant information must be reliable to be useful. Information has reliability when it faithfully describes for users wh
format of the account
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