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Current Assets These are assets that will normally be converted in cash within a year or inside the operating cycle. The operating cycle is the duration in time considered by
Objectives of final accounts describe Final Account; know their objectives and preparation of Trading and Loss and Profit Account; find out the difference among Trad
JWS Transport Company’s employees earn vacation time at the rate of 1 hour per 40-hour work period. The vacation pay vests immediately (that is, an employee is entitled to the pay
Standards at International Level: In view of the development of international trade and multinational enterprises, the requirement for standardization at the international level w
In 1984 the Governmental Accounting Standards Board (GASB) was recognized with a fulltime chairperson and four part-time members. The GASB issues statements on financial and accoun
Dear Sir, I am an accountant working in a company with limited liability (WLL), one of the partners (A) will withdraw from our company. One of the existing partner (B) of the comp
i need guidance note, expert advisory help or contoveries on AS 13
When is working capital most likely to increase? A when the business increases its selling prices B when the credit period allowed to customers is reduced C when the credit pe
The book of Deven Verma could not be tallied. The accountant transferred the difference of Rs. 1,270 in the suspense account on the debit side. The following mistakes were found la
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