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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 a unit to convert raw material in finished goods, in addition time to sell it and at last, plus time to get cash from debtors to whom goods are sold. For example, in a simple trading operation, we use cash to buy merchandise and sell it to recover cash. The operating cycle wherein a situation will consist of the period for that, merchandise inventory and receivables are held. The cycle begins with cash and ends along with the collection of cash. Current Assets are liquid and current liabilities can be met from the realization of them.
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QUESTION An important function of Environmental Accounting is to bring environmental costs to the attention of corporate stakeholders who may be motivated to identify ways of r
During 2011, Lavina Corporation had cash and credit sales of $94,000 and $91,000, respectively. The company also collected accounts receivable of $53,400 and incurred expenses of
Organize the Trading Account from the subsequent details: Office Rent Rs. 5,000;Purchases Rs. 80,100; Opening stock Rs.25, 000; Stock at the end Rs. 15,000; Carriage Inward Rs.
It is a national organization of female Certified Public Accountants (CPAs) in America. The AWSCPA was established to encourage the interests of female CPAs in America by diverse
procedure followed in govt.system of accounting in india
These comprise goods purchased only for production and selling purposes. Goods utilized as assets and not for sale are not comprised in this head. Net purchase is the dissimilarity
The Opening Stock of goods is the stock of goods in hand at the start of an accounting year. It may contain stock of raw material, work-in-progress and finished goods. It appears i
What is the difference between governmental type activities and business type activities and can you give some examples of each?
#questionThe 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
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