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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.
Q. What is Current liabilities? Current liabilities are debts due inside one year or one operating cycle whichever is longer. The payment of current liabilities usually require
Q. Show Employment opportunities in accounting? Throughout the last half-century accounting has gained the same professional status as the medical and legal professions. At pre
trial balance as at may 31 19*6 dr cr sales 400000 purchases 350000 sales return 5000 purchases return
Q. Define about Assets and Liabilities? Assets are feasible future economic benefits obtained or controlled by a particular entity as a result of past events or transactions.
Explain in detail about the MERCHANDISE INVENTORY Cost of merchandise purchased during an accounting period is debited to Purchases account. To determine VALUE of the goods on
Though the results of the operations of an exact enterprise can be termed as precisely only after the business has ceased to control, its assets have been sold off and responsibili
Explain Discounts allowed.
At the end of this assignment, you will have: Identified the facts and accounting issues at AVE. Researched the appropriate accounting literature. Analyzed, interpreted,
Q. Learning objectives of Accounting theory? - Discuss and Identify the underlying assumptions or else concepts of accounting. - Discuss and Identify the main principles of
Q. What is Chart of accounts explain? The chart of accounts is a absolute listing of the titles and numbers of all the accounts in the ledger. The chart of accounts is able to
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