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Q. Define Non-operating revenues?
Non-operating revenues or other revenues and non-operating expenses or other expenses are revenues and expenses not related to the sale of products or services regularly offered for sale by a business. An instance of non-operating revenue is interest that a business earns on notes receivable. An instance of a non-operating expense is interest incurred on money borrowed by the company.
on 1st july,2008,machinery purchased rs10,000 for cash from bhim.give journal entry and prepare ledger accounts.
Q. What do you mean by depreciable asset? A depreciable asset is a manufactured asset such like a building, vehicle, machine or piece of equipment that provides service to a bu
Service revenue earned on account Metro performed courier deliverance services for a customer who agreed to pay USD 900 at a later date. The company approved credit rather tha
Q. Procedure of recording business transactions? The raw information of accounting is the business transactions. We documented the transactions in section 1 as increases or dec
Cash Flow Statement Vs Funds Flow Statement: together the Cash Flow Statement and Funds Flow Statement give approximately comparable picture of the firm. They don't be different
Q. What is Cyclic reporting? Cyclic reporting and the matching principle necessitate the preparation of adjusting entries. Adjusting entries are journal entries prepared at the
Though the results of the operations of an exact enterprise can be termed as precisely only after the business has ceased to control, its assets have been sold off and responsibili
Benchmarking A process by which a company reassesses its established business practices by comparing them with the best practices of other organizations. This process is desi
Which of the following transactions does not involve an exchange of value? a. Payment of a debt b. Purchase of a building on credit c. Borrowing money d. Loss from theft
Q. What is current ratio in terms of accounting? The current ratio specifies the short-term debt-paying ability of a company. To find the current ratio we divide current assets
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