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(i) Describe the difference between the balance sheet and the income statement in financial statements of companies.
(ii) Give two examples of intangible assets and two examples of fixed assets
(iii) Which of the following represents a liability:
(a) inventory
(b) accounts payable
(c) Retained earnings
(d) accounts receivable
A product is manufactured by passing through three processes: A, B and C. In process C a by-product is also produced which is then transferred to process D where it is completed. F
It may be dispute that in a total quality environment, variance analysis from a standard costing system is redundant.í Talk about the validity of this statement.
given formula
Product Versus Period Costs Another way to look at manufacturing costs is to think of them as attaching to a product. In other words, goods result from the manufacturing proces
Handy-Man Services is a repair-service company specializing in small household jobs. Each client pays a fixed monthly service fee based on the number of rooms in the house. Records
The Federal Reserve adjusts short term interest rates based upon their perceptions of the needs in the economy. Please describe the ways the Federal Reserve can influence interest
One item a computer store sells is supplied by a vendor who handles only that item. Demand for that item recently changed, and the store manager must determine when to replenish it
preparation of costsheet
Costs and Revenue Cost of the development work done in-house to 1 January 2009 has been £1.5m with a further cost of £50,000 per month from now until the software is ready
“The statement of cash flows is the easiest of the basic financial statements to prepare because you know the answer before you start. You compare the beginning and ending balances
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