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State the term Reliability- Accounting Information
Accounting must be free from significant error or bias. It must be capable of being relied upon by managers to represent what it's supposed to represent. However both reliability and relevance are very significant, the problem that we often face in accounting is that information which is highly relevant may not be very reliable. In the same way, that which is reliable may not be very relevant.
When seeking to strike right balance between reliability and relevance, the requirements of users must be overriding consideration
Q. A ltd. Company has equity share capital of Rs. 5,00,000 divided into shares of Rs. 100 each. It wishes to gain further Rs. 3,00,000 for expansion cum modernization plans. The co
notes on 5 modern accounting techniques
Beginning balance 24,000 cash Sales 250,000 Gross profit 45% of sales Accounts receivable increase by 24,000 Accounts payable increased by 51,000 Inventory increased by 98,000 Sell
Help making t-Accounts
Q. What is Reconnaisance Survey explain? This item should apply to all rough and rapid investigations of an area with a view to determine the technical feasibility and approxim
Nature of a Deeds of Arrangement To avoid the expense and delay involved in a bankruptcy, a debtor in trouble may make a private arrangement with the creditors to accept paymen
Establish a budget and allocate funds in accordance with statutory and organisational requirements
DIVISIBLE PROPERTY The property of the bankrupt divisible among creditors includes: Property belonging to the bankrupt at the commencement of the bankruptcy; Property ac
Disclaimer of leases In principle where the bankrupt is a lessee the lease cannot be disclaimed without leave of the court; but such leave is not required in the following case
The following items are found in the trial balance of M/s Sharada Enterprise on 31st December, 2000. 10 marks Summer 2013 Sundry Debtors Rs.160000 Bad Debts written off Rs 9000 Dis
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