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Q. Example of physical inventory?
Taking a physical inventory may perhaps disrupt the normal operations of a business. Therefore the count should be administered as quickly and as efficiently as possible. The actual taking of the inventory isn't an accounting function though accountants often plan and coordinate the count. Proper forms are required to record correct counts and determine totals. Identification names or else symbols must be chosen and those persons who weigh, count or measure the inventory items must know these symbols.
State about the Cash payments journal A special journal used to record any payment of cash. There would be a check number given to be recorded in journal as well. Source docume
Pro forma Financial Statements In accounting, a financial statement in which the amounts begin are fully or partially estimates; from the Latin for "as a matter of form."
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