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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.
can a buyer still avail the 2% discount if he/she partially paid the accounts receivable at the 5th day and the full payment is on the 10th day of the given discount period in th
Jim owns and manages a small business, which provides an office design service, as well as buying and selling office furniture. Jim is a sole trader who manages all aspects of the
What is the relationship of accounting and biology?
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 ?
What should companies not show as non-current assets in their balance sheets? A plant bought on hire purchase B plant fully depreciated C plant held on finance leases D pla
Q. Explain about Prepaid insurance? The two accounts recitations to insurance are Prepaid Insurance (an asset) and Insurance Expense (an expense). Subsequent to posting this en
Purchased trucks and office equipment for cash Metro paid USD 20000 cash on behalf of two used delivery trucks and USD 1500 for office equipment. Office equipment and Trucks ar
Q. Illustrate Periodic inventory procedure? Companies by means of periodic inventory procedure make no entries to the Merchandise Inventory account nor do they maintain unit re
what accounts go into a balance sheet
Why it is important for independent auditor to be a member of a professional body?
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