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Q. Explain Merchandise inventories?
Merchandise inventories are goods supposed for sale. Section 6 starts our discussion of merchandise inventories.
Received security deposit from tenants
1. Carmen Santiago works for a number of businesses as a "consultant." She has helped design accounting systems, provided accounting services, and analyzed the financial stre
on..
Wings Inc., a software development firm, has stock outstanding as follows: 25,000 shares of cumulative 1%, preferred stock of $40 par, and 50,000 shares of $120 par common. Durin
1.A business man strated business with 100million on the bank account obtained as a retirement package, 2.He used part of the money and bought a building worth 60 million, 3.He let
Why is the cash basis of accounting not used when preparing financial statements?
Q. Instalments basis of revenue recognition? When accumulating the selling price of goods sold in monthly or annual instalments and considerable doubt exists as to collectabili
.What method of tax accounting used, Taxation
Q. Specific identification method of inventory? Specific identification- The specific identification method of inventory costing put together the actual cost to an identifiable
Q. Comparability in accounting information? When comparability exists reported similarities and differences in financial information are real and not the result of differing ac
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