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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. Show Timing of expense recognition? The timing of expense recognition The matching principle entail that a relationship exists between expenses and revenues. For definite ex
the consequences of non-compliance of each of the accounting concepts.
Using the data from the Dell Computer annual report determine how Dell calculated the four days' supply of raw materials. Do you think four days'supply is a valid
Your client, Hope, of Hope's Country Corner, is curious about two events will influence both taxable and financial income. The first event involves the purchase of pottery-making e
Accounting is frequently termed as the language of business. The fundamental function of any language is to function like a means of communication. In this circumstance, the reason
Determine the symbols of Net Sales for the Period - Cost of Goods Sold = Gross Profit - Operating Expenses + Other Income - Other Expenses =
#question.prepare the required adjusting entry for September 30, 2009
Closing entries perhaps prepared directly from the work sheet. The first journal entry debits all items appearing in the Income Statement credit column as well as credits Income Su
what is assets and its type ?
Q. Explain about revenue recognition principle? Under the revenue recognition principle revenues must be earned and realized before they are recognized (recorded). Earning of r
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