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Question 1 The following items are found in the trial balance of M/s Sharada Enterprise on 31st December, 2000.
Sundry Debtors Rs.160000Bad Debts written off Rs 9000Discount allowed to Debtors Rs. 1800Reserve for Bad and doubtful Debts 31-12-1999 Rs. 16500Reserve for discount on Debtors 31-12-1999 Rs. 3200
You are required to provide the bad and doubtful debts at 5% and for discount on debtors at 2%. Show the adjustments for bad debts, bad debts reserve, discount account, and provision for discount on debtors.Hint: RBD to be provided = 500Reserve for discount to be provided now =1640
Question 2 What is management accounting? Explain the roles of management accounting and write down about any 2 functions of management accounting
How marginal costing would improve the problems faced in absorption costing on manipulation of profits.
What is the definition of internal controls
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A bill is explained as an unconditional order in writing, addressed through one person to the other, signed through the person providing it, requiring the person to whom it is addr
Characteristics of irrelevant costs
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Transition probabilities These are the probabilities of moving from one state to another in the next time period. Usually they are written in the form of a probability matrix.
Question 1: Assuming that you are appointed consultant on economic matters for a company and you are asked to analyse the market structures in various sectors of the economy.
Describe the Nature of standard costing The system of standard costs (standard costing) is a management technique of using predetermined costs (standard costs) for evaluating p
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