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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.
One or more phases in the operation cannot supply all the items it makes concurrently.
Q. What are adjusting entries? When you start to analyze business transactions you saw that the evidence of the transaction is typically a source document. It is any printed or
ACCOUNTING STANDARDS An Accounting Standard is a elected set of accounting policies or broad strategies concerning the principles and methods to be elected out of numerous subs
Q. General principles of accounting? Organizations that have contributed towards the development of the principles are the 1)American Institute of Certified Public Accountants
paid rent $200 by cash
my unadjusted balance is not the same under credits and debits? And I can''t figure what went wrong.
Details: Costing products is a matter of considerable importance to organizations. The need for accurate product costs ranges from cost identification for inventory valuation purp
Ower invested cash in the company along with equipment at market value, the amount is considered part of capital or revenues?
Define the term- FICA TAX This is a matching tax paid equally by employee and employer. Two parts-OASDI and HIP. Current rate for OASDI is 6.2% on the first $102,000 earned
what is assets and its type ?
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