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What is Discounts received?
Q. Verifiability of Financial information? Verifiability Financial information has verifiability when independent measurers are able to substantially duplicate it by using the
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trying to put the numbers into the correct asset t-account and not adding up
Q. Database management system - accounting perspective? A database management system stores related data-such like monthly sales data products, salespersons, customers and sale
On Aug 14th, One of our Partner's ( Compuville ) cash book showed a debit balance of $4,000.00. His bank statement showed a balance of $4,270.00. On comparison the following we
At the end of the current year, $19,900 of fees have been earned but not billed to clients. a. What is the adjustment to record the accrued fees? Indicate each account affect
Internal Auditor: Internal Auditor is a worker of the organization in contrast to an external auditor who is paid a fee for his employment. The internal auditor is responsible for
Management accountants may or mayn't be CPAs. If a management accountant passes an examination prepared and graded by the Institute of Certified Management Accountants (ICMA) and m
Determining needed adjustments Adjustments are required since certain changes take place during the accounting period. As time passes, although, the value of the asset is consu
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