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Q. Describe about accounting. Why is it called language of business?
Accounting is known as -an art of recording, classifying and summarizing transactions and events in a significant manner and in provisos of money. It is known as language of business because the financial performance and the financial position of any company need to be conveyed to the stakeholders of any business concern. This can be done by systematically preparing the financial statements and presenting to the interested parties.
Closing Entries based accounting question a) Describe the nature of Closing Entries. I.e. what is the purpose of closing entries? b) For each of the f
Depreciation on an Motor Vehicle of 5,000,000
Remedies of overtrading
Accounting supposes that the business as an accounting entity will continue to operate for a long time in the future, unless there is superior evidence to the contrary. The enterpr
Ryan's Express has total credit sales for the year of $178,000 and estimates that 3% of its credit sales will be uncollectible. Record the end-of-period adjusting entry on Decemb
The assets and liabilities of Amos Moving Services at May 31, 2011, the end of the current year, and its revenue and expenses for the year are listed below. On April 1, 2010, the
stpes to be taken prepaing for final accounts
Target Company issues bonds with a par value of $900,000 on their stated issue date. The bonds mature in 10 years and pay 10% annual interest in semiannual payments. On the issue
Define Accounting. Briefly explain the accounting concepts which guide the accountant at the recording stage.
Q. What is Cost-benefit? Cost-benefit The cost-benefit consideration engrosses deciding whether the benefits of including optional information in financial statements exceed th
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