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Q. Explain about Long-term investments?
A long-term investment habitually consists of securities of another company held with the intention of (a) obtaining control of another company (b) securing a permanent source of income for the investor or (c) establishing friendly business relations. The long-term investment classification in the balance sheet doesn't include those securities purchased for short-term purposes. For most businesses long-term investments perhaps stocks or bonds of other corporations. Infrequently long-term investments include rental properties, funds accumulated for specific purposes and plant sites for future use.
Process Solutions provides a computer-based document processing service. The accountant has produced the following analysis. Standard Modifi
Q. Sales returns affect both revenues and cost of good? When a company sells merchandise to customers then it transfers the cost of the merchandise from an asset account that i
Amounts paid on June 30 for a 1-year insurance policy. Is this a pre¬paid expense, (2) unearned revenue, (3) accrued expense, (4) accrued revenue, or (5) none of the foregoing.
The basic functions of a balance sheet are: 1. It provides the financial place of a company on any given date 2. It provides the liquidity picture of the concern. 3. It p
A good purchased for $480 sells for $700. If the store's operating expenses are 30% of cost, what is the percentage markup on cost? A. 1.5% B. 10.57% C. 15.83% D. 4
Question 1: Briefly explain the following costs terms: Variable costs and fixed costs Semi- variable costs and semi-fixed costs Past costs and future costs.
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
What is the implication of applying accounting concepts wrongly
Q. Modifying conventions on Materiality? The Materiality is a modifying convention that permits accountants to deal with immaterial (unimportant) items in an expedient however
briefly explain management process
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