The objectives of preparing trial balance are as follows: To determine the accuracy of the ledger accounts. To identify errors in recording... View Article
E-banking or electronic banking is a faster and more convenient way of banking that allows customers with the option of performing basic banking... View Article
Capital goods are those goods that are used by the business for producing the consumer goods. In other words, we can say that capital goods are... View Article
Intermediate customers are regarded as those customers who purchase goods for resale. A final customer does not sell things that are bought. It... View Article
There is no requirement of further processing in case of Idli. Therefore, idli is regarded as a final good as it is the product that is consumed... View Article
Machinery will be considered as a final good if it is purchased by a consumer for use at home, while it will be regarded as a capital good if it... View Article
Gasoline can be considered as a final good if it is used by households or if it is sold in a gas station and purchased by a consumer. Also read:... View Article
Intermediate goods are used for preparing final goods. Final goods are directly consumed by the consumers. Also read: Difference Between... View Article
Milk purchased by a restaurant or a household for making cottage cheese or paneer can be considered as an intermediate good. However, if milk is... View Article
Yes, intermediate goods are non-durable in nature as they get changed to a different form during the process of preparation of final goods. Also... View Article
Intermediate goods are not durable in nature as they are used as raw materials for production of final goods and therefore lose their identity... View Article
Final goods are those goods that are suitable for direct consumption by the end user. They are also called consumer goods. Examples of final... View Article
Intermediate goods are those goods which are used in the production of final goods. Some examples of intermediate goods are wheat, soil, crude... View Article
It is important to distinguish between final and intermediate goods because at the time of calculation of GDP we add only the value of final... View Article
Final goods are those goods that do not require further processing and can be consumed or used directly by the end user. Final goods are also... View Article
The limitations of income statement are as follows: Income is reported based on the accounting rules and does not represent the actual cash... View Article
