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Q. Describe Exceptions to the realization principle?
Exceptions to the realization principle: The following illustrations are instances when practical considerations may cause accountants to vary the point of revenue recognition from the time of sale. These examples show the effect that the business environment has on the development of accounting principles and standards.
what are the limitation
Explain the Terms of Payment Revolving charge plans are set up so that you can pay a percentage plus a finance charge on a monthly basis. Credit terms - allow purchaser a
On Aug 14th, One of our Partner's ( Compuville ) cash book showed a debit balance of $4,000.00. His bank statement showed a balance of $4,270.00. On comparison the following we
in cash flow statement, deductions from cash expences and payments to creditor. how do you get this answer
norman co borrows $15,000 with a 8%interest 38,000 account receivable paid $26,000 salary
uses of accounting as a software enginner
Sam is trying to decide whether he should operate his business as a C cor- poration or as an S corporation. Due to potential environmental hazard problems, it is imperative that
what all things do we have to treat in revaluation account
Q. Define Operating expenses? Operating expenses for a merchandising company are those expenses other than cost of goods sold incurred in the usual business functions of a comp
profit
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