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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.
The information contained in published financial statements is of specific importance to external users, as shareholders and investors. Without any information they would not be ca
"Imagine yourself in a situation of being encouraged to inflate your expense account. Do you think your choice would be most affected by your individual moral development or by the
what is the basic meaning of debit and credit
1. Double declining method 2. Units of production method 3. Sum of year digit method 4. Straight-line method Depreciation Fund Method Insurance Method Annualy Method
Explain the term- CASH SHORT AND OVER This account is used to record both a shortage and overage of cash in cash drawer. When change is made during a business day, mistakes can
Funds Flow Analysis : This study is occasionally called as 'Statement of alter in Financial Position". Beneath this analysis, a declaration is prepared which give details the
What is Internal control - Control of cash Internal control refers to procedures and methods a business uses to protect its assets. Checks are written for all transactio
Q. Explain about cost principle? As applied to largely assets this principle is often called the cost principle. It utter that purchased or self-constructed assets are initiall
A portion of company profits allocated by an employer, in good years, to an employee's trust.Contributions on behalf of every employee are expressed as a percentage of salary with
Q. LIFO under periodic inventory procedure? The LIFO (last-in, firstout) method of inventory costing presume that the costs of the most recent purchases are the first costs cha
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