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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.
You have been assigned to analyze the costs of NC Microelectronics, a microchip manufacturer. Indicate whether the following costs are more likely fixed (F), variable (V), or mixed
Ken Young and Kim Sherwood organized Reader Direct as a corporation; each contributed $49,000 cash to start the business and received 4,000 shares of stock. The store completed its
Q. What is Income Summary account? The Income Summary account is a clearing account used merely at the end of an accounting period to summarize revenues and expenses for the pe
WHO PREPARES A TRADING ACCOUNT AND WHY?
Q. Example of Electronic spreadsheets? Electronic spreadsheets have many applications in accounting. An electronic spreadsheet is basically a large blank page that contains row
Q. Comparability in accounting information? When comparability exists reported similarities and differences in financial information are real and not the result of differing ac
Q. What is Variable cost? Variable cost -- a cost which changes as production or sales change. If a business is producingnothing and selling nothing, variable cost must be zero
what is Prepaid expense ?
Q. Concepts of accounting? - The major underlying assumptions or else concepts of accounting are (a) business entity (b) going concern (continuity) (c) money measurement (d) st
We are here left along with statement (d) that defines an accountant as a professional and emphasize his pre-occupation within management of information for internal utilization as
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