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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 collected is 'historic' means that this refers to events that have previously taken place. Previously, accounting was largely concerned along with what had occurred, quite than making any attempt to predict and get ready for future.
After the historic data has been composed, this is recorded in accordance along with generally established accounting theory. A huge number of transactions or events have to be entered in the books of original entry as journals and ledgers in accordance along with the classification scheme previously decided upon. The processing and recording of information generally accounts for a substantial part of whole accounting work. Such type of activity of accounting may be termed as recordative. The processing technique utilized for recording may be manual, electronic or mechanical. Computers are also utilized broadly in modern business for doing such job.
dividend received rs 100was posted to debit to dividend account. the rectification entry n will be what?
Q. Concepts of accounting? - The major underlying assumptions or else concepts of accounting are (a) business entity (b) going concern (continuity) (c) money measurement (d) st
Q. What is Inventory obsolescence? Inventory obsolescence -- inventory no longer salable. Possibly there is too much on hand,possible it is out of fashion. True value of the in
Ledger = From the Journal entries we will post the transactions in a book known as Ledger. Ledger is a book which contains the summarized and classified form of permanent record
The resources as machinery, property, buildings and land rights etc. such a business owns are termed as assets. The money values allocated to assets are derived from the cost conce
MS EXCEL.
what accounts go into a balance sheet
A firm has $200,000 in total assets and $120,000 in owner's equity. What are the total liabilities? A. $80,000 B. $200,000 C. $320,000 D. Cannot be determined from the info
Q. Neutrality of accounting information? The Neutrality signifies that the accounting information must be free of measurement method bias. The primary concern must be relevance
Q. Cash collection as point of revenue recognition? Several small companies record revenues and expenses at the time of cash collection and payment which may not take place at
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