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Write the difference between budget & budgeting? Ans) An estimation of the revenue & expenses over a specified future period of time. A budget can be made for a person, family,
Sales taxes and Schedule of accounts receivable Schedule of accounts receivable Accounts Receivable and individual accounts should match. Only accounts which have
Why is it more difficult to account for the inventory of a manufacturing firm than for that of a merchandising firm?
The Bayside Company uses the LIFO cost flow method to value inventory. In the current year, profit at Bayside is running unusually high. The corporate tax rate is also high this ye
Q. What is Timeliness? The Timeliness requires accountants to provide accounting information at a time when it perhaps considered in reaching a decision. Usefulness of informat
Buyer's Direct Mills (BDM) Inc. is a century old textile company that takes raw cotton and spins it into cotton yarn. This yarn is in turn purchased by weaving companies which prod
The t/p bill for this month was 200,the company will pay it next month what is the journal entry for this?
partner investments, journal entries. The LP partnership was formed on January 1, 19X7, by investments from Bill Levy and Marv Parcells. Levy contributed $30,000 cash and $80,000 o
Q. Explain Vertical analysis? Vertical analysis demonstrates the percentage that each item in a financial statement is of some significant total such as total assets or sales.
There is a point where stockholding costs are equivalent to ordering costs
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