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Q. Can you explain about Liabilities?
Liabilities -- amounts owed by a company to others. Current liabilities are those amounts duewithin one year or less and generally include accounts payable, loans, accruals due to be paidwithin a year, taxes due within a year and so on. Long-term liabilities generally include theamounts of mortgages, bonds and long-term loans which are due more than a year in the future.
Explain any two concepts of accounting with examples
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Q. What is Timeliness? The Timeliness requires accountants to provide accounting information at a time when it perhaps considered in reaching a decision. Usefulness of informat
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FICA Tax (Social Security) Both the employee and the employer contribute equally. OASDI has a Taxable Wage Base that is the maximum amount of earnings during a calendar y
Consignor is the person who is the holder of the goods and who distribute the goods to the consignee. Consignee is the person who takes the goods and he just possesses the goods
The Development Stage Entities Topic specifies the guidelines for identifying an entity in the development stage, addresses the applicability of generally accepted accounting princ
Draw a stem-and-leaf plot for the data set. (Enter numbers from smallest to largest separated by spaces. Enter NONE for stems with no values.) Data set A: The annual wages of emp
Assume we are selling a device for 6000 and the company need to replace that device with a new device which is a bit more than the prior price say 7000.Then,how we can account this
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