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Q. Define about Assets and Liabilities?
Assets are feasible future economic benefits obtained or controlled by a particular entity as a result of past events or transactions.
Liabilities are feasible future sacrifices of economic benefits arising from present obligations of a particular entity to transfer assets or provide services to other entities in the future as a result of past events or transactions.
AL MASA a sole trader,decided to install a new machine to use
Workout Expenditures Professional fees (legal, accounting, appraisal) paid to entities unaffiliated with the investment company's advisor or sponsor in connection with any of t
debit balance
what are welfare payments or consumer subsidies
Whats the use of accounting in our everyday life?
define accounting.Briefly explain the accounting concepts which guide the accountant at the recording stage.
Q. FIFO under periodic inventory procedure? The FIFO (first-in, first out) method of inventory costing suppose that the costs of the first goods purchased are those charged to
started in business with cash 16,000
How to create account for barter transactions? As My Company is providing a service to another company and that company is reimbursing us with his service.
Q. Define the accounting process ? The accounting process offers financial data for a broad range of individuals whose objectives in studying the data vary widely. Bank officia
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