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Imputed Interest - If no interest or an unrealistic amount of interest is charged in a salve involving certain kinds of deferred payments, then transaction would be treated as if realistic rate of interest had been used. Difference between realistic interest and interest actually used is referred to as imputed interest.
Inventory Within a trading firm, inventory is merchandise held for sale to customers into the ordinary course of business. In condition of manufacturing firms, inventory would
Comprising examined the conceptual origin of the balance sheet we will here try to study the balance sheet by itself. We have observed that every transaction influences the financi
Hello, I have a presentation about an assigned case study from the book and i also have the solution manual. I am extremely busy till the day of my presentation and my english lan
Along with a view to harmonise varying accounting policies and practices recently utilize in India, the Institute of Chartered Accountants of India (ICAI) created the Accounting St
The term goods refer to articles that are traded through the firm articles bought for resale. For illustration, for book seller, books are goods, for an electrical store fans, fo
Define Accounting. Briefly explain the accounting concepts which guide the accountant at the recording stage.
The balance sheet lists assets, capital and liabilities separately. This is an accepted convention about the assets and liabilities are demonstrated in sub groups and listed in the
A firm of manufactures, whose books are closed on 31st December, purchased machinery for Rs.50,000 on 15 January, 2010. Additional Machinery was acquired for Rs.10,000 on 1st July,
Applicaion of Specific And General Loan
A company incurred the following expenditure during the year: $'000 $'000 Lic
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