What is the difference between ordinary shares and Preference share?
Latest Answer: Ordinary shares better knows as Equity shares have following characteritics:a. They can participate in Annual General Meeting and voteb. They do not have any fixed rate of return (dividend)c. They get lower priority than preference share holders ...
Appropriation is an estimate of expenditure to be incurred. It serves as a benchmark upon which the actions and performance of a governmental unit are measured. It helps monitor and set control to budgetary
What is Contingent Liability?
Latest Answer: Contingent liabilities are liabilities that may or may not be incurred by a company and which depend on the outcome of a forthcoming event ...
Latest Answer: Salary A/C drTo TDS payable A/CTo EPF payable A/CTo ESI payable A/C ...
What Account is Salary outstanding? Is it real, personnel or nominal account?
Latest Answer: Outstanding Salary A/c is a Representative Personal Account as it represents a group of people to whom some amount of salary is payable. Similarly other outstanding and prepaid expenses also fall under the category of representative personal accounts. ...
Who invented double entry system?
Latest Answer: It is not really known but the one who is credited for the same is LUCA DE BARGO PACIOLIhe was calss mate of Leonardo da Vinci.book Summa de arithmetica in 1494 was wrote by himThis book mentions double entry book keeping system as one of the methods ...
If i have paid for something why cant i expense the entire amount on the income statement?why do we need to make an adjustment to the insurance policy at the end of the year? wouldn't it have easier to record the entire balance as an expense in November when the policy was ?purchased?why do I need to take an inventory count of my supplies at the end of the year?If I receive the Hydro bill on August 5th, why don't we record the transaction for the next fiscal period rather then include
Latest Answer: Premises is and Fixed Assed in the accounting sense which is shown in the balance sheet in final accounts Vat adjustment is out put tax - input tax the vat which is paid on purchase will be decucted from vat colledted from sales this adjustment ...
Latest Answer: Account Voucher nothing but a proof of transaction made. In future any problem will occurs then account voucher plays major support. ...
Latest Answer: Provision means liabilities It means payable account it's an very usefull for controlling payable accounts like telephone charges, ESIC accounts, EPF accounts, EPF payable accounts Dr to EPF accountsESIC payable accounts Drto ESIC account ...
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