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Q. Show Timing of expense recognition?
The timing of expense recognition The matching principle entail that a relationship exists between expenses and revenues. For definite expenses such as costs of acquiring or producing the products sold you can easily see this relationship. But when a direct relationship can't be seen we charge the costs of assets with limited lives to expense in the periods benefited on a systematic and rational allocation basis. Depreciation of a plant asset is an illustration.
Why it is important for independent auditor to be a member of a professional body?
After the closing entries are posted to the ledger, each revenue account will have a zero balance: a. a zero balance, b. a debit balance, c. a credit balance, or d. e
what is trade marketing management
Can a copy constructor accept an object of similar class as parameter, in place of reference of the object?
Q. What do you mean by Overhead? Overhead -- a cost that doesn't vary with the level of production or sales and generally a costnot directly involved with sales or production.
Q. Uses of journal in accounting? Organizing journal entries in a computerized system is different than in a manual system. The computer usually asks for the number of the acco
Liquidity refers to a company's cash position, availability of resources to meet short-term cash requirements, and overall ability to obtain cash in the normal course of business.
Home Inc. is considering buying a new piece of equipment, which will cost $715,000 and has an economic life of 5 years, in order to make a new line of product. The company believe
Reliable information is essential before decision makers can make a sound decision involving the allocation of scarce resources. Accounting information is precious because decision
For earnings management, is impairment of goodwill easier to manipulate than impairment of PPE?
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