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Accountants frequently cite the going-concern assumption to justify using historical costs rather than market values in measuring assets. Market values are of less implication to an entity using its assets rather than selling them. On the other hand if an entity is liquidating it must use liquidation values to report assets. The economic activity of a business is usually recorded and reported in money terms. Money measurement is the use of a monetary unit such as the dollar instead of physical or else other units of measurement. Using a particular financial unit provides accountants with a common unit of measurement to report economic activity. Without a financial unit it would be not possible to add such items as equipment, buildings and inventory on a balance sheet. Monetary statements identify their unit of measure such as the dollar in the United States so the statement user can make valid comparisons of amounts. For instance it would be hard to compare relative asset amounts or profitability of a company reporting in US dollars with a company reporting in Japanese yen.
GDYJ-503 is developed according to the national standard GB-86 Insulating Oil Dielectric Strength Testing Method .The tester can test three cups of oil at the similar time. LCD scr
1. Carmen Santiago works for a number of businesses as a "consultant." She has helped design accounting systems, provided accounting services, and analyzed the financial stre
Determine the symbols of Net Sales for the Period - Cost of Goods Sold = Gross Profit - Operating Expenses + Other Income - Other Expenses =
Q. Explain about perpetual inventory procedure? When discussing inventory we require clarifying whether we are referring to the physical goods on hand or the Merchandise Invent
how we prepare ledger account and trial balance?
The assets and liabilities of Amos Moving Services at May 31, 2011, the end of the current year, and its revenue and expenses for the year are listed below. On April 1, 2010, the
Q. Define Operating expenses? Operating expenses for a merchandising company are those expenses other than cost of goods sold incurred in the usual business functions of a comp
Full form= Winter compensation from contributions.
#Q. Example on closing process?
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