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Q. What is Inventory obsolescence?
Inventory obsolescence -- inventory no longer salable. Possibly there is too much on hand,possible it is out of fashion. True value of the inventory is hardly ever exactly what is shownon the balance sheet. Every so often, there is unrecognized obsolescence.
state why carriage inwards is stated on the trading account
The industrial revolution in England presented a challenge to the development of accounting like a tool of industrial management. Costing techniques were urbanized as guides to man
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Q. Show Journalizing adjusting entries? Subsequent to completing Micro Train's financial statements from the work sheet you should enter the adjusting entries in the general jo
UOIT has recently appointed you to prepare an independent consulting report to analyze the university's current financial position and to provide some recommendations for improve
Q. What is Net realizable value? Companies must not carry goods in inventory at more than their net realizable value. Net realizable value is the approximate selling price of a
Q. Understand how to account for transportation costs? FOB terms are particularly important at the end of an accounting period. Goods in transit after that belong to either the
Verify the amount to be paid within the discount period for purchase with an invoice price of $7,745, subject to credit terms of 2/10, n/30.
Classify the following items as (a) deferred expense (prepaid expense), (b) deferred revenue (unearned revenue), (c) accrued expense (accrued liability), or (d) accrued reven
Question 1 What is cash book? Explain the different types of cash book 2 Prepare a trial balance from the following Particulars Amount Rs.
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