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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.
Which of the following is NOT one of the key requirements for auditor independence? A. Auditors must disclose all other written communications between management and themselv
what is the implication of applying accounting concepts wrongly
Explain the process involved in accounting
A company uses 85 circuit boards a day in a manufacturing process. The person who orders the boards follows this rule: Order when the amount on hand drops to 625 boards. Orders are
Internal Auditor: Internal Auditor is a worker of the organization in contrast to an external auditor who is paid a fee for his employment. The internal auditor is responsible for
What should companies not show as non-current assets in their balance sheets? A plant bought on hire purchase B plant fully depreciated C plant held on finance leases D pla
budgeting?
The book of Deven Verma could not be tallied. The accountant transferred the difference of Rs. 1,270 in the suspense account on the debit side. The following mistakes were found la
Problem It is usually recognized that power is an essential component of accountability and that greater accountability is recognized towards those stakeholders who have more p
AL MASA a sole trader,decided to install a new machine to use
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