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Q. Explain about stable dollar assumption?
In the United States accountants make one more assumption regarding money measurement that the stable dollar assumption. Under the stable dollar assumption the dollar is accepted as a sensibly stable unit of measurement. Therefore accountants make no adjustments for the changing value of the dollar in the primary financial statements.
Using the stable dollar assumption creates a complexity in depreciation accounting. Presume for instance that a company acquired a building in 1975 and computed the 30-year straight-line depreciation on the building without adjusting for any changes in the value of the dollar. Therefore the depreciation deducted in 2008 is the same as the depreciation deducted in 1975. The company makes no adjustments for the dissimilarity between the values of the 1975 dollar and the 2008 dollar. Both dollars are treated as equivalent monetary units of measurement despite substantial price inflation over the 30-year period. Business executives and Accountants have expressed concern over this inflation problem especially during periods of high inflation.
What is the relationship of accounting and biology?
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
Q. What are Bad debts? Bad debts -- amounts owed to a company which aren't going to be paid. An accountreceivable becomes a bad debt when it's recognized that it won't be paid.
On January 1, 2012, Bartell Company sold its idle plant facility to Cooper Inc. for $1,050000. On this date, the plant had a depreciated cost of $735,000. Cooper paid $150,000 ca
Q. Explain about debits and credits? Accountants utilize the term debit instead of saying place an entry on the left side of the T-account. They utilize the term credit for Pla
WHAT IS ACCOUNTING STANDARDS
A supplier to the electric utility industry produces power generators. The Transportation costs are high. One market area includes the lower part of the Great Lakes region
Which type of error would cause an entry in the suspense account? A. A page total from the purchases journal was posted as $9780 rather than the correct figure of $9870. B. C
Q. Explain about cost principle? As applied to largely assets this principle is often called the cost principle. It utter that purchased or self-constructed assets are initiall
started in business with cash 16,000
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