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procedure followed in government system of accounting in india
Q. Comparability in accounting information? When comparability exists reported similarities and differences in financial information are real and not the result of differing ac
Q. Explain about Modifying conventions? In certain examples companies don't strictly apply accounting principles because of modifying conventions (or constraints). Modifying co
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A patent costing $500,000 was purchased on July 1. The company expects the patent to be useful for 5 years. How much amortization expense is reconized on December 31?
How vital does Accounts receivable for small business and why? Ans) Accounts Receivables help small businesses by giving short-term liquidity. Also continued sales on cre
An example of a committed fixed cost would be: a) taxes on real estate b) management development programs c) public relations d) advertising programs
Explain the term- Reversing entries and Interim statements Reversing entries - Made the first day of new accounting period. They are exact opposite of the adjusting entries
Q. Basic elements of financial statements? Therefore far we have discussed objectives of financial reporting and qualitative characteristics of accounting information. A third
What are the elements of accounting assets Assets are items with money value which are owned by a business. Some instance are: cash, accounts receivable (selling services or g
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