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Q. Define Gains and Losses?
Gains are raise in equity net assets from peripheral or incidental transactions of an entity as well as from all other transactions and other events as well as circumstances affecting the entity except those that result from revenues or investments by owners.
Losses are diminish in equity net assets from peripheral or incidental transactions of an entity and from all other transactions and other events and circumstances affecting the entity except those that result from expenses or distributions to owners.
Q. Illustrate Periodic inventory procedure? Companies by means of periodic inventory procedure make no entries to the Merchandise Inventory account nor do they maintain unit re
effects of technology in banking sector
Q. External users of accounting information? The external users of accounting information grouped into groups; everyone has different interests in the company and wants answers
what does office stationery at year end classify as? asset or expense?
incomestatment
Q. What is Working capital? Working capital -- current assets minus current liabilities. In most businesses majorcomponents of working capital are cash, accounts receivable and
state why carriage inwards is stated on the trading account
Explain the term - Overtime Pay This means a minimum of one and one-half times the regular rate of pay for all hours worked over 40 during the week. (Time and a half) A numbe
Scenario Sara Jones opened a technical consulting business called Hi-Tech For the Future earlier in the year. So far, she has been successful in providing services and selling
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
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