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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 officials for instance it may study a company's financial statements to evaluate the company's ability to repay a loan. Prospective investors may perhaps compare accounting data from several companies to decide which company represents the best investment. Accounting as well supplies management with significant financial data useful for decision making.
Reliable information is essential before decision makers can make a sound decision involving the allocation of scarce resources. Accounting information is precious because decision makers are able to use it to evaluate the financial consequences of various alternatives. Accountants eliminate the requirements for a crystal ball to estimate the future. They are able to reduce uncertainty by using professional judgment to quantify the future financial impact of taking action or delaying action.
Meranda Corporation purchases a machine for $125,000. It has an estimated salvage value of $10,000 an is expected to produce 50,000 units in its lifetime. During the first year of
Q. Explain about Percentage of completion method? The percentage-of-completion method makes out revenue based on the estimated stage of completion of a long-term project. To ca
Q. Explain about Traditional accounting theory? Conventional accounting theory consists of underlying assumptions rules of measurement major principles and modifying convention
Q. A company would not acquire treasury stock a. in order to reissue shares to officers. b. as an asset investment. c. in order to increase trading of the company's stock. d. to ha
State about the Reporting sales taxes collected SALES TAX PAYABLE - CREDIT BALANCE SALES RETURNS INVOLVING A SALES TAX Tax should also be returned to the customer.
A of surat consigned goods to b of jaipur
On July 1, 2010, Harris Co. issued 6,000 bonds at $1,000 each. The bonds paid interest semiannually at 5%. The bonds had a term of 20 years. At the time of issuance, the market r
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
#How to make journal entries?
Q. Importance of proper inventory valuation? A merchandising company is able to prepare accurate statements of retained earnings, income statements and balance sheets only if i
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