Audit Reports, Accounting Basics

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Why it is important for independent auditor to be a member of a professional body?

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A bond sinking fund investment is started on january 5, A bond sinking fund...

A bond sinking fund investment is started on January 5, 2010, by transferring $10,000 in cash to the fund. This $10,000 is invested and earns $1,100 during 2010. The entry to rec

Explain about accrued liabilities, Q. Explain about Accrued liabilities? ...

Q. Explain about Accrued liabilities? Accrued liabilities are liabilities not so far recorded at the end of an accounting period. They represent responsibility to make payments

Summary of significant accounting policies, Q. Summary of significant accou...

Q. Summary of significant accounting policies? As part of their annual reports companies comprise summaries of significant accounting policies. These policies help users in int

Forms of business organizations, Forms of business organizations Accoun...

Forms of business organizations Accountants habitually refer to a business organization as an accounting entity or a business entity. A business entity is some business organiz

Example of unearned service fees, Q. Example of Unearned service fees? ...

Q. Example of Unearned service fees? Unearned service fees On December 7 Micro Train Company received USD 4500 from a customer in payment for future training services. The firm

A firm has $200, A firm has $200,000 in total assets and $120,000 in owner'...

A firm has $200,000 in total assets and $120,000 in owner's equity. What are the total liabilities? A. $80,000 B. $200,000 C. $320,000 D. Cannot be determined from the info

Assets, paid rent $200 by cash

paid rent $200 by cash

Management, Management: Organizations may not or may exist for the sole re...

Management: Organizations may not or may exist for the sole reason of profit. Though, information requires of the managers of both types of organizations are approximately the sam

What is marketable securities, Q. What is Marketable securities? Market...

Q. What is Marketable securities? Marketable securities are temporary investments such like short-term ownership of stocks and bonds of other companies. Such investments don't

Liabilities, current and non current liabilties

current and non current liabilties

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