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Q. Show Approximation of periodicity?
Approximation and judgment because of periodicity To offer periodic financial information accountants must often estimate expected uncollectible accounts and the useful lives of depreciable assets. Ambiguity about future events prevents precise measurement and makes estimates necessary in accounting. Auspiciously these estimates are often reasonably accurate.
Acme Inc. has total liabilities of $120,000, total sales of $80,000, net income of $12,000, current assets of $90,000 and total assets of $150,000. What is the debt to equity rat
Q. What is Variable cost? Variable cost -- a cost which changes as production or sales change. If a business is producingnothing and selling nothing, variable cost must be zero
An asset's cost includes all normal and reasonable expenditures necessary to get the asset in place and ready for its intended use. 01.) True 02.) False True or Fals
Q. Define the Product costs? Product costs are costs earns in the acquisition or manufacture of goods. Since you will see in the next section included as product costs for purc
Q. What is Accounts receivable? Accounts receivable as well called trade accounts receivable are amounts owed to a business by customers. An account receivable occurs when a co
Q. Explain about Accounting period? As those interested in the activities of business need timely information companies must prepare financial statements periodically. To organ
Why to and by using in journal, trading a/c, p&l a/c and ledger?
If a customer payment data was lost and needed to be reconstructed what are some of the ethical considerations the business owner would need to consider? This may include internal
in cash flow statement, deductions from cash expences and payments to creditor. how do you get this answer
explain accounting standard 14
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