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Under this system all stock levels are reviewed after fixed time duration, depending upon the significance of the item. Imported items may need a shorter review cycle, while slow moving items may need a longer review cycle. Throughout practice the review of stock items takes place at the end of the accounting period. While review time, orders are puts for additional stocking up to a pre-determined level. In this system the order point is not real found out but the time of review itself is an indication to place additional orders.
SECRET TRUSTS The initial basis of the doctrine of secret trusts was the refusal of equity to permit a statute to be used as an engine of fraud (e.g. Bannister v Bannister). Cer
Various types of accounting changes can affect the financial statements of a business enterprise differently. Assume that the following list describes changes that have a material
If fixed costs are $259,238, the unit selling price is $112, and the unit variable costs are $63, what is the break-even sales (units)?
1. This assignment is to be submitted as an individual assignment. 2. Marks will be deducted for poor quality presentation. For guidance on the requirements for the presentatio
Effect of discharge An order of discharge releases the bankrupt from all disabilities imposed by the bankruptcy (except those which apply for a fixed period after discharge - s
Suppose a risk neutral agent has $100,000 today that he wants to save for one year. Compare the following two savings plans. Bank A offers a standard savings account with 4% p.a
Are revenue and expense accounts permanent accounts and should not be closed at the end of the accounting period?
A 4 year project has an initial asset investment of 306600, and initial net working capital investment of 29200, and an annual operating cash flow of -46720. The fixed asset is ful
Bakers Bagels LLC produces and sells 20 types of bagels by the dozen. Bagels are priced at $6.00 per dozen (or $0.50 each) and cost $.020 per unit to produce. The company is consid
Derive the Optimal Value of Loss Function A speculative attack and the consequent currency crisis may not be due to excessive money-growth or other misaligned fundamentals, bu
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