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Q. Explain about matching principle?
The matching principle need that expenses incurred in producing revenues is deducted from the revenues they generated during the accounting period. The matching principle is one of the fundamental principles of accounting. This matching of revenues and expenses is necessary for the income statement to present an accurate picture of the profitability of a business. Adjusting entries replicate unrecorded economic activity that has taken place but has not yet been recorded. Why has the company not documented this activity by the end of the period? One reason is that it is more economical and convenient to wait until the end of the period to record the activity. A second reason is that refusal source document concerning that activity has yet come to the accountant's attention.
A business had always made a provision for doubtful debts at the rate of 5% of debtors. On 1 January 2017 the provision for doubtful debts brought forward from the previous year wa
WHAT DO YOU MEAN BY CUM- INTEREST PRICE
Management: Organizations may not or may exist for the sole reason of profit. Though, information requires of the managers of both types of organizations are approximately the sam
Examine the present system and recoginize specific weaknesses that must be addressed by a new improved system. As part of your analysis, prepare data flow diagrams (context, log
the books of deven verma could not be tallied.the accountant transferred the difference of Rs.1270 in the suspense account on the debit side the following mistakes were found later
On october 5 2011 mara hotel collectedmthe amount of 180000 repreesenting advanced rental from a tenant who occupies space of the building. tHe advanced rental willcover the period
Q. Explain Vertical analysis? Vertical analysis demonstrates the percentage that each item in a financial statement is of some significant total such as total assets or sales.
Q. Explain accrual basis of accounting? In certain circumstances companies may perhaps use the cash basis for income tax purposes. All through the text we use the accrual basis
Cartwright inc has $1,000,000 of 10% bonds outstanding on December 31, 20x8. On January 1, 20x9 adams corp and 80% owned subsidiary of Cartright, inc purchases a $250,000 part of c
Fund flow deals with transaction within financial year (One year) while Cash flow Statement record only the cash transaction.
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