In the event that a suspense account isn't shut towards the end of a bookkeeping period, the remaining or the balance amount from the suspense... View Article
The main objective behind preparing a balance sheet is to give invested individuals an idea of the organization's monetary situation, as well as... View Article
The balance sheet is the fiscal summary of an organization that incorporates equity capital, total debt, liabilities, equity, and so forth at a... View Article
The three steps in the accounting process are: Collection stage of accounting. Processing stage of accounting. Reporting stage of accounting.... View Article
An equitable remedy to do justice between two or more creditors, each of which is owed a debt by the same debtor. Marshaling is accessible to a... View Article
Marshalling of the balance sheet is concerned with the arrangement of placing the assets and liabilities in proper order in the balance sheet.... View Article
(A) Current liabilities / Current assets (B) Current assets / Current liabilities (C) Inventory / Current liabilities (D) Current liabilities... View Article
(A) Capital allocation line of a market portfolio (B) Capital allocation line of a risk-free asset (C) Both 1 and 2 (D) All of the above... View Article
(A) Maximise the wealth of Equity shareholders (B) Maximise the wealth of Preference Shareholders (C) Maximise the wealth of Debenture holders... View Article
In accounting, Grouping is concerned with giving comparable things comparable characteristics together. They are displayed under a typical head... View Article
A liability is something an individual or organisation owes, typically an amount of cash. Recorded on the right half of the asset report,... View Article
Normal loss is the misfortune that happens because of the nature of the products consigned. Its tendency is as per the following: It happens... View Article
Abnormal loss in cost accounting is the misfortune that happens well beyond normal loss or misfortune. If there should be an occurrence of... View Article
Abnormal loss = {Normal cost at normal production / (Total output – normal loss units)} X Units of abnormal loss. Also read: Abnormal Loss... View Article
In case losses or misfortunes are more prominent than anticipated, it is an additional misfortune or abnormal loss. In case losses are not... View Article
To ascertain the worth of Goodwill which is dependent on the profits of the association, one needs to think about just the normal profits. Along... View Article
The method of determining the value of abnormal gain is as follows: Value of abnormal gain = (Normal cost of normal output/Normal output)... View Article
