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Q. What is Comprehensive income and Revenues?
Comprehensive income is the alter in equity of a business enterprise during a period from transactions and other events and circumstances from non-owner sources. It comprises all changes in equity during a period except those resulting from investments by owners and distributions to owners.
Revenues are inflows or else other enhancements of assets of any entity or settlements of its liabilities (or a combination of both) from rendering services, delivering or producing goods or other activities that constitute the entity's ongoing major or central operations.
a 50 petty cash fund has cash of 20 and valid receipts for 40. The entry to replenish the fund would include a
What is the implication of applying accounting concepts wrongly
An asset's cost includes all normal and reasonable expenditures necessary to get the asset in place and ready for its intended use. 01.) True 02.) False True or Fals
A bond sinking fund investment is started on January 5, 2010, by transferring $10,000 in cash to the fund. This $10,000 is invested and earns $1,100 during 2010. The entry to rec
Case Study Labor standards Geeta & Company has experienced increased production costs. The primary area of concern identified by management is direct labor. The compa
ERS is a business process among trading partners that conduct commerce without invoices. In an ERS transaction the supplier ships goods based upon an Advance Shipping Notice (ASN)
A(n) _______ loss occurs when the reduced price is below the actual cost. A. net B. operating C. absolute D. incurred
Q. Show types of activities performed by business organizations? The forms of business unit examined in the previous section are classified according to the type of ownership o
FICA Tax (Social Security) Both the employee and the employer contribute equally. OASDI has a Taxable Wage Base that is the maximum amount of earnings during a calendar y
Q. Income statements - Service and merchandising company? We evaluate the main divisions of an income statement for a service company with those for a merchandising company. To
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