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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.
Q. What is Current liabilities? Current liabilities are debts due inside one year or one operating cycle whichever is longer. The payment of current liabilities usually require
The capital structure of Wild West Inc. is as follows: - Debts: $5,000,000 (face value) bonds with coupon rate at 8.00% and current price at par -
Q. What is Posting reference column? This column demonstrates the account number of the debited or credited account. For example in Exhibit 8 the number 100 in the first entry
Explain about the Management accounting Management accounting has also changed by becoming more outward looking in its focus. In past, information provided to managers has bee
leagl provision of partner ship accounts
Q. Preparing a separate trial balance? As an alternative of preparing a separate trial balance as accountants uses the Trial Balance columns on a work sheet. The numbers and ti
Q. Learning objectives of Accounting theory? - Discuss and Identify the underlying assumptions or else concepts of accounting. - Discuss and Identify the main principles of
A company’s sales volume averages 4,000 units per year. Recently, its main competitor reduced the price of its product to $48. The company expects sales to drop dramatically
1. Fill in the table below. Assume TC stands for Total Cost, TFC as Total Fixed Cost, TVC as Total Variable Cost, ATC as Average Total Cost, AFC as Average Fixed Cost, AVC as Aver
Q. Show Earnings per share? Earnings per-share amounts are based upon the weighted average number of common as well as common equivalent shares outstanding during the year. Com
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