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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 requires the use of current assets. Balance sheets list current liabilities in the order they should be paid the sooner a liability should be paid the earlier it is listed. Instance of current liabilities follow.
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owner invested 80000 cash and 2000 office equpmeent in to the business bank account
Consignor is the person who is the holder of the goods and who distribute the goods to the consignee. Consignee is the person who takes the goods and he just possesses the goods
The Dividends account increases (debited) as well as an asset cash decreases (credited) by USD 3000. Transaction 15 brings to a close the analysis of the Micro Train Company transa
Credit -- an accounting entry on the bottom or right of a balance sheet. Generally an increase inliabilities or capital or a reduction in assets. Opposite of credit is debit. Every
When a not-for-profit facility receives a contribution from a member of the community, the cost of the capital is inconsequential when deciding how to use the contribution, becau
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explain the proceedure followed in government system of accounting in india
Criticisms against setting of Accounting Standards: 1. Setting of Standards may occasionally control the type of treatment of definite items. 2. They may generat
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