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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 order of their liquidity or Permanence.
The balance sheet in our illustration or format is presented in the T account form. Such is the assets are listed in liabilities and one side and owners' equity on another.
The other commonly used way of presentation is the report form where liabilities and capital are listed over the assets. Though, the presentation matters extremely little as the balance sheet represents the equality among assets, capital and liabilities.
You must be aware about the most of business are made through cheques these days. It involves the bank whether the firm has opened its own account. Thus when payment is made by che
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QUESTION The recognition of human capital by modern businesses has led to the development of Human Resource Accounting (HRA) Required- (a) Explain the following terms-
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the relevance of standard costing
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Transfere from U.S GAAP to IFRS case study project
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