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Inventory is habitually the largest and most important asset owned by a merchandising business. The inventory of some companies similar to car dealerships or jewellery stores may cost several times in excess of any other asset the company owns. Like an asset the inventory figure has a direct impact on reporting the solvency of the company in the balance sheet. Like a factor in determining cost of goods sold the inventory figure has a direct impact on the profitability of the company's operations as report in the income statement. Therefore the importance of the inventory figure should not be underestimated.
the consequences of non-compliance of each of the accounting concepts.
Why to and by using in journal, trading a/c, p&l a/c and ledger?
Q. Explain about pegboard system? One more innovation in manual systems was the one write or pegboard system. Beside creating one document and aligning other records under it o
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Buyer's Direct Mills (BDM) Inc. is a century old textile company that takes raw cotton and spins it into cotton yarn. This yarn is in turn purchased by weaving companies which prod
Q. Cash collection as point of revenue recognition? Several small companies record revenues and expenses at the time of cash collection and payment which may not take place at
Components of Profit and Loss Account The Profit & Loss Account intend to check profit. It has three parts. 1) The Trading Account: These account the money in (revenue)
Q. Illsutarte the Summary of transactions? Summary of transactions is a teaching tool utilized to show the effects of transactions on the accounting equation. Note that the sto
what are the activities in the business organization
My sister considers Will Smith a _____ actor than Sean Penn. (Points : 2) more better best better
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