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Q. Learning objectives of Accounting theory?
- Discuss and Identify the underlying assumptions or else concepts of accounting.
- Discuss and Identify the main principles of accounting.
- Discuss and Identify the modifying conventions or constraints of accounting.
- Explain the conceptual framework project of the Financial Accounting Standards Board.
- Discuss the content and nature of a company's summary of significant accounting policies in its annual report.
An inflated budgeted expense account
The range of accounting can be presented in a diagrammatic form. Data collection and creation is the area that provides raw material for accounting. The data collecte
Q. Explain Periodicity assumption of accounting? As-per to the periodicity (time periods) assumption accountants divide an entity's life into months or years to report its econ
The book of Deven Verma could not be tallied. The account transferred the difference of Rs. 1.270 in the suspense account on the debit side. the following mistakes were found later
Difference between Fica and federal income taxes Employers should file Form 940 with the IRS at the end of every calendar quarter. There are several rules about when to turn i
Q. Show Effects of transaction? A prepaid insurance, asset, increases (debited) and cash, decreases (credited), asset by USD 2400. The debit is to Prepaid Insurance relatively
Why to and by using in journal, trading a/c, p&l a/c and ledger?
The percentage analysis of changes of corresponding items in comparative financial statements is referred to as horizontal analysis. A. True B. False
Sue, Scarlett and Sally are in a partnership together providing accounting services. The partnership uses the cash basis to account for income tax.
Q. Explain journal entry? A journal is a sequential arranged in order of time record of business transactions. A journal entry is the stacking of a business transaction in the
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