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You must be aware about the most of business are made through cheques these days. It involves the bank whether the firm has opened its own account. Thus when payment is made by cheque, you will credit the Bank Account as bank is the giver. While payment is received by cheque, the amount will be debited to the Bank Account as cheque is deposited in the bank who is the receiver.
Loss and Profit Account is prepared so as to discern whether the firm has made net profit or suffered net loss for a specified accounting period. Such account deals along with indi
The first municipal bond insurance company was created in 1971 as a supplementary of MGIC Investment Corp. of Milwaukee; now usually called as Ambac Financial Group, Inc. The Ameri
Describe three examples of financial accounting practices and for each, explain how the practice assists in the decision making process
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#questionThe book of Deven Verma could not be tallied. The accountant transferred the difference of Rs. 1,270 in the suspense account on the debit side. The following mistakes were
Q. Learning objectives of Accounting? Describe and identify the three basic forms of business organizations. differentiate between the three types of activities per
The book of Deven Verma could not be tallied. The accountant transferred the difference of Rs. 1,270 in the suspense account on the debit side. The following mistakes were found la
Q. Financial consequences of business decisions? When nowadays college students are polled about their long-term career choice an astonishingly large number respond that they w
The main function of accounting is to accumulate accounting data so as to calculate the profit and loss made through the business firm throughout and also to KNOW the financial pos
What take place in a rights issue of shares? 1. Any premium on issue is added to a capital reserve. 2. Any type of premium on the issue is added to a revenue reserve. 3. A
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