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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. What is Bequest? Bequest - A gift by will of personal property. If bequest is money to the extent it's paid out ofincome from property it is taxable to the recipient. Normal
Ask questihow to make comparative income statement in good formon #Minimum 100 words accepted#
Q. Define the 401 Plan? 401(k) Plan - EMPLOYEE BENEFIT PLAN authorized by INTERNAL REVENUE CODE section 401(k), whereby an employer establishes an account for every participati
Differences in Inter company balances i) Cash in transit Where one company may have sent cash which is yet to be received by the other company as at the end of the financia
How to Determine the financial reports of businesses In response to criticisms that financial reports of some businesses aren't clear enough to users, accounting rule makers ha
How much must you save annually in order to accumulate Rs. 20, 00,000 by the ending of 10 years, whether the saving earns an interest of 12%? Solution : A = [k/(
calculation
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Define the term- How are businesses organised Nearly all businesses which involve more than a few owners and/or employees are set up as limited companies. This means that finan
Wider-range Investments (Requiring advice in writing from a properly qualified person) Quoted shares of a company with a paid-up capital of not less than Shs10m and has
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