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Q. What do you mean by Contingent liabilities?
Contingent liabilities -- liabilities which are not recorded on a company's financial reports though whichmight become due. If a company is being sued, it has a contingent liability which will become areal liability if company loses the suit.
From the following details, prepare a balance sheet acid test ratio = 2.5 current ratio = 1.5 net working capital = 10,00,000 fixed assets =? Share capital =? Proprietary ratio =
Define Accounting. Briefly explain the accounting concepts which guide the accountant at the recording stage.on..
State unemployment tax This is referred to as SUTA (State Unemployment Tax Act). The taxes are paid to the state in which employer conducts business. This rate varies from stat
Balance Sheet A balance sheet is a statement for presenting an organization financial position at a particular date, mostly at the end of an accounting period; also calle
What are the elements of accounting assets Assets are items with money value which are owned by a business. Some instance are: cash, accounts receivable (selling services or g
1. what is accounting ? 2. what should we/i do to know accounting 3. what are the basics of accounting? 4 is accounting is hard ?
how to budget for you income
definition
please explain cycle of accounting
A firm is evaluating two machines. The first costs $250,000 and will require annual maintenance of $30,000 per year for 10 years. At the end of 10 years, the salvage value will b
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