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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.
Which type of error would cause an entry in the suspense account? A. A page total from the purchases journal was posted as $9780 rather than the correct figure of $9870. B. C
Q. Explain horizontal analyses and using the financial results? The computation of dollar and or percentage changes from one year to the next in an item on financial statements
What is Payroll record keeping Employer should maintain payroll records which will supply the name, social security number, address, gross earnings for every payroll, period o
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Q. What is Gross selling price? When a sale is on account it credits the Sales account as well as debits Accounts Receivable. The following entry records a USD 20000 sale on ac
Q. Income taxes payable? Taxes withheld from employees comprise federal income taxes, state income taxes and social security taxes withheld from employees' pay checks. The comp
WHAT ARE THE CHARACTERISTICS OF ASSETS
Q. Explain about Accrued liabilities? Accrued liabilities are liabilities not so far recorded at the end of an accounting period. They represent responsibility to make payments
what is the accounting?
What is journal entry for Input CST which are paid at the time of purchases of goods from other state.
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