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explain the terms recording,classifying,summarizing and communicating
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Potential sources of finance for very new businesses Initial owner finance is almost always the first source of finance for a business, whether from the owner or from family co
On December 31, 2014, Santana Company has $7,194,600 of short-term debt in the form of notes payable to Golden State Bank due in 2015. On January 28, 2015, Santana enters into a re
Ordinary Income - One of two classes of income (other being CAPITAL GAINS) taxed under the INTERNAL REVENUE CODE. Factually, ordinary income is taxed at a higher rate than capital
Q. What is Taxation and capital allowances? The suppositions made regarding taxation should be investigated. The tax rate has-been supposed to be constant when there may be dif
What is bargain purchase? Financial assets acquired for less than FMV. In a bargain purchase BC, a corporate entity is acquired by another for an amount that is less than the
What is Acid-test ratio A measurement of the capability of a business to meet its short-term commitments. It is considered by dividing excluding stock, current assets, by curre
what is the purpose financial statement
Q. Flexibility in Debt finance? Debt finance is more elastic than equity in that various amounts can be borrowed at a fixed or floating interest rate and for a range of maturit
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