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Q. What is periodic inventory procedure?
In the periodic inventory procedure the Merchandise Inventory account is updated periodically subsequent to a physical count has been made. Habitually the physical count takes place immediately before the preparation of financial statements.
what are welfare payments or consumer subsidies
User account control is meant to allow users to run with standard user rights, as opposed to administrative rights. Administrative rights provide users the ability to read and chan
Q. What is accrual basis of accounting? In the following illustration, notice that every business transaction affects two or more accounts in the ledger. As well note that
Q. Explain Vertical analysis? Vertical analysis demonstrates the percentage that each item in a financial statement is of some significant total such as total assets or sales.
Q. Show Adjustments for deferred items? This segment discusses the two types of adjustments for deferred items asset/expense adjustments and liability/revenue adjustments. In t
Define the term - LIABILITIES Liabilities are debts owed by business. Paying cash is generally not possible or convenient, so businesses purchase services and goods on credit.
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
What do you recognize by Open Item Managed Account? Ans) Open item management make sures that all items that have not yet been cleared are available in the system. Only after ea
The organization's name is Coffee Affectionardo Pty Ltd and the company imports and sell various types of coffee machines, grinders, filters and beans. The business has two dir
Glaser Services obtained 30% of the outstanding common stock of Nickels Company on January 1, 2008, by paying $864,180 for the 48,010 shares. Nickels stated and paid $0.50 per shar
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