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Q. First-in first-out inventory?
FIFO (first-in first-out): Ending inventory contains of the most recent purchases. FIFO presumes that the costs of the first goods purchased are those charged to cost of goods sold when goods are sold. During periods of inflation FIFO creates higher net income ever since the costs charged to cost of goods sold are lower.
Define the term- FICA TAX This is a matching tax paid equally by employee and employer. Two parts-OASDI and HIP. Current rate for OASDI is 6.2% on the first $102,000 earned
The net cash provided by operating activities is affected by
XYZ plc provides engineering and consultancy services to the oil and gas industry. Over the past few years, they have incurred expenditure of £1m researching and developing a new
GILCO rents DVDs and DVD players (players) on a short term basis to airline passengers through GILCO locations at every large commercial airport throughout the world. A passenger
Hi there, I was just wondering I''m not to sure how to describe my assignment, the subject is ACCOUNTING for university level... and it is 100 Level never don''t this paper in high
Illustrate the cases of financial accounting ?Enron, an energy-trading business which is based in Texas, and was accused of entering into complicated financial arrangements in
Q. Learning objectives of Accounting theory? - Discuss and Identify the underlying assumptions or else concepts of accounting. - Discuss and Identify the main principles of
Enumerate the term- Cash discounts Offered to encourage prompt and early payment by buyer. Cash discounts are recorded in accounting records of both the buyer and the seller. S
what is book keeping?
Under both GAAP and tax depreciation, an asset cannot be depreciation until it has been
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