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Q. Show types of activities performed by business organizations?
The forms of business unit examined in the previous section are classified according to the type of ownership of the business entity. Business entities are able to as well be grouped by the type of business activities they perform- merchandising companies, service companies and manufacturing companies. Any of these activities is able to be performed by companies using any of the three forms of business organizations.
When individuals look for a bank loan to finance the formation of a small corporation the bank frequently needs those individuals to sign documents making them personally responsible for repaying the loan if the corporation can't pay. In this illustration the individuals are able to lose their original investments plus the amount of the loan they are obligated to repay.
what is going concern concept
Describe the mechanisms that WorldCom's management used to transfer profit from other time periods to inflate the current period.
Acquired a shop on monthly rent for Rs. 3,000 after paying cash Rs. 36,000 as advance rent ??
A store receives $400 cash after offering a chain discount of 10/10/5 on a good. What was the list price? A. $492.20 B. $519.82 C. $533.33 D. $612.00
Q. Show Debit and Credit column? - Debit column. In the debit column the sum of the debit is on the same line as the title of the account debited. - Credit column. In the cr
Other than the Parsimonious forecasting approach, what other financial forecasting approaches are there? Other than the Parsimonious forecasting approach, there are a number of oth
A business had always made a provision for doubtful debts at the rate of 5% of debtors. On 1 January 2017 the provision for doubtful debts brought forward from the previous year wa
Question 1 Write a short note on the following with example a. Activating budgets b. Reversing journals c. Memorandum vouchers d. Optional vouchers e. Creating Bill of Materials
Q. What is credit balance? If on the other side the sum of the credits exceeds the sum of the debits the account has a credit balance. For example assume that a company has an
Q. Define Gains and Losses? Gains are raise in equity net assets from peripheral or incidental transactions of an entity as well as from all other transactions and other events
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