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Q. Define Economic and financial decisions?
You most likely will find that of all the business knowledge you have acquired or will learn the study of accounting will be the most useful. Your economic and financial decisions as a consumer and student involve accounting information. While you file income tax returns accounting information assists determine your taxes payable. Understanding the discipline of accounting is as well can influence many of your future professional decisions. You can't skip the effects of accounting information on your personal and professional life.
Every profit seeking trade organization that has economic resources such as machinery, money, and buildings uses accounting information. That's why accounting is called the language of business. Accounting as well serves as the language providing financial information about not-for-profit organizations such as churches, governments, charities, fraternities, and hospitals. Though, this text focuses on accounting for business firms.
Applicaion of Specific And General Loan
It is generally taken to include currency or legal tender, cheques or any other document which circulates as cash. It is generally classified like a current asset while it is acces
Along with a view to harmonise varying accounting policies and practices recently utilize in India, the Institute of Chartered Accountants of India (ICAI) created the Accounting St
These are assets or things of value without physical dimensions. They cannot be touched; they representing intrinsic value without material being and they are incorporeal. One of t
The subsequent items are debited in the profit and loss account as: 1. Administrative expenses comprising office salaries, office lighting, office rent, printing, director's fee
You must be aware about the most of business are made through cheques these days. It involves the bank whether the firm has opened its own account. Thus when payment is made by che
A company values its loose tools for inclusion in its balance sheet. The tools are not extremely valuable and the company uses estimating while valuing them. Which type of accou
tools and techniques of financial statement
AB Limited is a manufacturing entity that runs a number of operations including a bottling plant that bottles carbonated soft drinks. AB has been developing a new bottling process
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