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A company has been depreciating its IT equipment over 5 (five )years, but now finds that it is becoming obsolete in 3 years. What does the consistency principle allow the comp
Q. Advantages and Disadvantages of LIFO? LIFO: Advantages (a) LIFO reports both sales revenue and cost of goods sold in current dollars and (b) lower income taxes result if use
When common stock has a par value of $2 and a market value of $15: 1.) the liability of the stockholders is $13 per share 2.) there will be additional paid-in capital of $1
Has accounting become too interesting? In recent years, accounting has become front-page news and has been a key talking point among those connected with world of business. Reg
hi is any one out there?
define accounting. Explain the accounting concepts which guide the accountant at the recording stage.
You have been asked to ready a bill for services. What information should be contained in the bill? Ans) Service Provider's Details (i.e) Organization name and address. Ser
Remedies of overtrading
Q. Explain about closing process? Expense, revenue and dividends accounts are nominal (temporary) accounts that are merely sub classifications of a real (permanent) account Ret
Q. Steps used in retail inventory method? The retail inventory method approximation the cost of the ending inventory by applying a cost/retail price ratio to ending inventory s
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