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Explain in detail about the MERCHANDISE INVENTORY
Cost of merchandise purchased during an accounting period is debited to Purchases account. To determine VALUE of the goods on hand, it is essential to take an inventory-a physical count. Value of the goods on hand is then recorded in an ASSET account entitled MERCHANDISE INVENTORY.
Merchandise Inventory is decreased by the value of BEGINNING MERCHANDISE INVENTORY and it's increased by the value of ENDING MERCHANDISE INVENTORY.
explain the proceedure followed in government system of accounting in india
When we say an asset is at its Net Book Value, Does that mean Cost of asset + Revaluation added - Accumulated Depreciation or Revaluation is not relevant for calculating the NBV?
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One or more phases in the operation cannot supply all the items it makes concurrently.
Compensation for the uncertainties inherent in supply and demand
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Spin off is making new company by selling or distributing the shares of existing company
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