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Question 1 Briefly explain the functions of accountingQuestion 2 Explain the three branches of accountingQuestion 3 What is single entry system? What are the advantages and disadvantages of Single entry system?Question 4 Briefly explain the types of business transactionQuestion 5 What do you mean by Bank reconciliation statement?Question 6 What are the different classifications of error?Question 7 How do you rectify the error?Question 8 Briefly explain the characteristics of Bill of exchange
A $9,000 loan to be repaid in full at the end of five years. Interest on the loan is payable quarterly. The interest rate is 8% compounded quarterly. What is the present value
A light truck is purchased on January 1 at a cost of $27,000. It is expected to serve for eight years and have a salvage value of $3,000. Calculate the depreciation expense for t
The trial balance of Bellemy Fashion Center contained the following accounts at November 30, the end of the company’s fiscal year.
Implication of applying accounting concept wrongly
If a customer payment data was lost and needed to be reconstructed what are some of the ethical considerations the business owner would need to consider? This may include internal
The salaries paid in 2004 is Rs. 5,00,000; Salaries outstanding is Rs. 20,000; Salaries paid in advance for 2004 is Rs. 30,000. What is the actual salary expenditure for 2004? Wh
A Customer Master Record is a permanent record that haves key information about a business partner or a material. This information must be entered into the system before any transa
Money payable by customers (individuals or corporations) to the other entity in exchange for goods or services that have been given or used, but not yet paid for. Receivables typic
Q. What do you mean by Return on investment? Return on investment (ROI) -- a measure of efficiency and effectiveness with that managers use resources available to them, express
If my company sells 4000 shares of common stock for $86,400, how do I record this in the Journal?
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