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Q. Explain about Representational faithfulness?
Representational faithfulness To increase insight into this quality considers a map. When it shows bridges and roads where roads and bridges actually exist a map possesses representational faithfulness. A correspondence exists among what is on the map and what is present physically. Likewise representational faithfulness exists when accounting statements on economic activity correspond to the actual underlying activity.
Maryanne was looking to purchase a local business that sold coal jewelry to tourists along the interstate. The present business owner instructed his accountant, Jane Sane, CPA, to
dividend received rs 100was posted to debit to dividend account. the rectification entry n will be what?
Q. Explain about Prepaid insurance? The two accounts recitations to insurance are Prepaid Insurance (an asset) and Insurance Expense (an expense). Subsequent to posting this en
If on the opening day of business, you put in supplies worth $250 and $3000 cash, would that be considered a transaction OR would it be considered your beginning balances because
Cash Flow Analysis: As per the Institute of Cost and Works Accountants of India (AICWAI), a Cash Flow Statement is a declaration setting out the flow of cash under different
what is the implication of applying accounting concept wrongly
Q. Determine the cost of ending inventory? The company suppose that the 20 units in inventory consist of 10 units purchased December 21 and 10 units purchased October 12. The o
Q. What are simple journal entries? To understand the cross-indexing and posting process trace the entries from the general journal to the general ledger. The ledgers accounts
office supplies on hand at year end amounted to 3000
The cash records and bank statement for the month of May for Diaz Entertainment are shown below. Prepare the bank reconciliation and record cash adjustments (LO5) Additi
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