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Q. What are Accounting software packages? Accounting software packages are normally menu driven and organized into modules such as accounts payable, general ledger, accounts re
THE BALANCE SHEET CONCEPTS According to Howard, a Balance Sheet might be definite as - 'a statement which reports the principles owned by the enterprise and the assert of the c
“Ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account.” Elaborate and explain why journal is necessary.
You just took out a variable-rate mortgage on your new home. The mortgage value is $100,000, the term is 30 years, and initially the interest rate is 8%. The interest rate is fixed
Accounting conventions The phrase 'convention' is used to signify customs or ethnicity as a guide to the research of accounting statements. A variety of accounting conventions
Q. What do you mean by note? A note is an unqualified written promise to pay another party the amount owed either when demanded or at a certain specified date habitually with i
Q. What is Merchandise inventory? Merchandise inventory is the cost of goods on hand in addition to available for sale at any given time. To determine the cost of goods sold in
UOIT has recently appointed you to prepare an independent consulting report to analyze the university's current financial position and to provide some recommendations for improve
Which of the following is NOT one of the key requirements for auditor independence? A. Auditors must disclose all other written communications between management and themselv
Function and scope of the Accounting Standards Board: The major function of ASB is to originate accounting standards so that the Council of the Institute in India may set up su
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