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It is generally taken to include currency or legal tender, cheques or any other document which circulates as cash. It is generally classified like a current asset while it is accessible for a firm's day-to-day operations. This involves cash maintained in the cash chest as also deposits on call on current accounts along with banks. If cash is particularly earmarked for any reason and not available for transactions this is better classified
Question : (a) In relation to a non-profit organization describe social accounting and describe its main aims. (b) What are the needs an organisation wants to satisfy throug
Prepaid Expenses In many conditions, like a custom, some of the item of expenses is generally paid in advance such as rent, taxes, insurance and subscriptions. The rationale of
The balance sheet lists assets, capital and liabilities separately. This is an accepted convention about the assets and liabilities are demonstrated in sub groups and listed in the
SQB Corporation reports sales of $10,000,000 for Year 2, with a gross profit margin of 40%. 20% of SQB's sales are on credit. Year 1 Year 2
What is the difference between governmental type activities and business type activities and can you give some examples of each?
The term goods refer to articles that are traded through the firm articles bought for resale. For illustration, for book seller, books are goods, for an electrical store fans, fo
Within today's international business environment, there has been a great deal of discussion about the convergence of United States accounting standards (also known as GAAP), with
Applicaion of Specific And General Loan
Accounting like a field of study in its developmental process has evolved a theoretical framework consisting of concepts or principles over period of time. Such concepts enjoy a wi
The American Accounting Association is one of the accounting organizations discussed later in this Introduction it defines accounting as "the process of measuring, identifying, and
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