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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 Accrued expenses? Accrued expenses, accruals -- an expense that has been incurred though not yet paid for.Salaries are a good instance. Employees earn or accrue salar
A(n) _______ loss occurs when the reduced price is below the actual cost. A. net B. operating C. absolute D. incurred
A Customer Master Record is a permanent record that haves key information about a business partner or a material. This information must be entered into the system before any transa
The operating expenses section Operating Expenses - directly associated to the sale of merchandise General expenses (administrative expenses) related to business's offic
how we can do tds audit
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
Describe how the QuickZoom feature of QuickBooks does or does not provide the same help in the statement of cash flows as it does in the income statement.
A portion of company profits allocated by an employer, in good years, to an employee's trust.Contributions on behalf of every employee are expressed as a percentage of salary with
Question 1 Write a short note on the following with example a. Activating budgets b. Reversing journals c. Memorandum vouchers d. Optional vouchers e. Creating Bill of Materials
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
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