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Q. Illustrate Exchange-price concept?
Exchange-price (or cost) concept (principle). The majority of the amounts in an accounting system are the objective money prices determined in the exchange process. Consequently we record most assets at their acquisition cost. Cost is the sacrifice made or else the resources given up measured in money terms to acquire some desired thing such as a new truck (asset).
Why to and by using in journal, trading a/c, p&l a/c and ledger?
Consistency Concept In practice, there are some manners to record an event or a transaction in the books of account. For illustration, the trade discount on raw material purch
Cross indexing is made up
How do your calculated stock prices compare to the company's present stock prices? What do you think is causing them to deviate? This will need you to investigate a lit
Q. Explain about Sales account? In theory sellers could record both sales allowances and sales returns as debits to the Sales account for the reason that they cancel part of th
most consrvatism way of lower cost method
Q. What is Managerial accounting information? A Managerial accounting information is for internal use and provides special information for the managers of a company. The inform
Weighted-average under periodic inventory procedure the weighted-average method of inventory costing is a income of costing ending inventory using a weighted-average unit cost. Com
What is TRIAL BALANCE This statement is a listing on a certain date which demonstrates all accounts and their balances. This generally happen at the end of the month however it
stpes to be taken prepaing for final accounts
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