The following entry will be passed: Sundry Assets Dr. To Revaluation A/c (Being Unrecorded asset recorded) Also read: Difference Between... View Article
Reserve capital refers to that part of the authorised capital which is yet to be called up and will be available for drawing when needed. Also... View Article
Sequential codes are those codes in which the numbers or letters are arranged in a consecutive order.These types of codes are mostly applied in... View Article
A voucher is a document that shows the details of a transaction for any goods that have been purchased or any service that has been rendered. It... View Article
Graph is defined as a diagram or a pictorial representation that represents the interrelation between data or values in an organised manner.... View Article
Purchasing a good denotes decrease in the cash, therefore it will decrease the gross profit margin and subsequently decrease the gross profit... View Article
The following are the objectives of preparing the cash flow statement: Measure the inflow and outflow of cash Helping the management in cash... View Article
The two main components of a balance of payment account are: Current account Capital account Also read: Balance of Payments Surplus and... View Article
Normative economics is a branch of economics that deals with economic fairness and how the economy should be. It is subjective and heavily relies... View Article
Subsidies are a type of benefit that is offered by the government to the people, it results in reduction in the value of the subsidised product.... View Article
Nominal flow is defined as the flow of factor payment from firms to the households for their factor services and the corresponding flow of money... View Article
Money supply is referred to as the total stock of money that is circulating in the economy at any given time, this includes the money in the... View Article
In an oligopoly market, the firms that function need to invest a large amount of capital in order to survive. Also, there is fluctuation in the... View Article
Central problems of an economy arise due to the fact that resources that are present in an economy are in short supply or scarce and the human... View Article
Following are a few of the limitations of accounting: It is unable to measure things or any events that do not have a monetary value. It uses... View Article
The different elements of a computer system are as follows: Hardware: It comprises the physical parts of a computer system like CPU, keyboard,... View Article
Income tax paid by a sole proprietor is not considered as an expense that is done for generating revenue. Therefore, it is not treated as an... View Article
