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Q. Explain Accounting entity concept?
Business entity concept (or accounting entity concept). Data assemble in an accounting system relates to a specific business unit or entity. The business entity concept presumes that each business has an existence separate from its creditors, owners, employees, customers, other interested parties and other businesses.
The Institute of Management Accountants previously the National Association of Accountants is an organization with approximately 70,000 members consisting of management accountants
Q. Example of retail inventory method? In Exhibit we display the retail inventory method. In the exhibit the costs (USD 22000) as well as retail (USD 40000) amounts for beginni
what is the implication of applying accounting concept wrongly
A machine valued on the books at $8500 was sold on credit to $8000.
The use of ledger accounts A journal entry is similar to a set of instructions. The execution of these instructions is known as posting. Since stated earlier posting is recordi
find cost of goods sold
Q. Explain Accounting entity concept? Business entity concept (or accounting entity concept). Data assemble in an accounting system relates to a specific business unit or entit
Describe the term in detail Payroll PAYROLL is very vital for all employees. Employees are under the direct control of employer on a continuing basis. An independent contract
The conventions and rules of accounting are commonly termed as the conceptual framework of accounting. Along with any discipline or body of knowledge, several underlying theoretica
WHAT ARE THE VARIOUS TYPES OF PRIME BOOKS
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