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Q. Explain about Period costs?
Period costs are costs not noticeable to specific products and expensed in the period incurred. Administrative and Selling costs are period costs.
Business is an activity performed with the only intention of earning profit. The activity may differ according to the scope and volume.
Q. What is FOB destination? FOB destination signifies free on board at destination. The seller ships the goods to their destination with no charge to the buyer. Therefore the s
Discuss the considerations that management should take into account in determining the design of an accounting system which will satisfy both (i) its own information requirements a
A user buys a new transponder for $20. What debit and credit entries would need to be made?
Company A has only been in existence for two full years as a public company. Prior to this, it was a segment of large multinational and was spun off as stand-alone, public company.
Q. Specific identification method of inventory? Specific identification- The specific identification method of inventory costing put together the actual cost to an identifiable
Secret Trails received payment in full within the credit period for horse boarding for $900 plus 6% sales tax. terms of the sale were 2/10, n/30. which entry is required to record
A business may perhaps engage in thousands of transactions during a year. An accountant summarizes and classifies the data in these transactions to create useful information.
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