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Q. Explain about Accrued liabilities?
Accrued liabilities are liabilities not so far recorded at the end of an accounting period. They represent responsibility to make payments not legally due at the balance sheet date such as employee salaries. By the end of the accounting period the company recognizes these obligations by preparing an adjusting entry including both a liability and an expense. For this motive we as well call these obligations accrued expenses.
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definition
Over the past two decades, the People's Republic of China has invested billions of RMB in domestic and international air travel capability. Today, almost every major city in China
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How to create account for barter transactions? As My Company is providing a service to another company and that company is reimbursing us with his service.
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procedure followed in government system of accounting in india
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