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Define the term - LIABILITIES
Liabilities are debts owed by business. Paying cash is generally not possible or convenient, so businesses purchase services and goods on credit. Name of the account used is Accounts Payable.
Another kind of liability is Notes Payable. This is a formal written promise to pay a particular amount of money at a definite future date.
Q. Uses of technology in accounting? The computers of persons in a given building or department are frequently connected in a Local Area Network (LAN). These persons are able t
#quesDance fans switch away from dance music to R&B music AND the price of MP3 players decreases. tion..
John is considering the best capital structure for his firm. Suppose there are two capital structures for him to choose from. Structure A would have 7,000 shares of stock and $160,
Why it is important for independent auditor to be a member of a professional body?
Provided services on credit to Yamato P/L $5 900. How do we apply this in the t accounts
J Green''s financial position at 1 May 2008 was as follows bank 2,910 cash 160 equipment 5,900 premises 25,000 creditors R smith 890 t thomas 610 debtors j car
Why is it important for accounting information to be accurate and timely?
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contractee account is it an assets account or expenses Account
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
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