Bank reconciliation statement
Explain the term bank reconciliation statement?
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In banking scenario the account and mirror account containing the opposite sign. The procedure matching real account and mirror accounting is termed as Reconciliation. This reconciliation to that of a bank then it is termed as Bank's Reconciliation. Therefore, the statement is termed as Bank Reconciliation Statement.
Describe fluctuating capital of partners? Answer: Partner‘s capital is stated to be fluctuating if capital modifies with every transaction in the capital accou
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The amount of interest that an organization would have avoided if it had not made the expenditures for an asset. Avoidable interest is calculated when an entity is self- constructing an asset. The cost of the asset can include material, labor, and overhead plus some interest. The c
Common Data Source: All of the programmatic and financial information available for the cost, budgetary, and financial accounting processes. This comprises all financial and much non-financial data, like environmental data, which are
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What are the key qualities or characteristics which accounting information should possess?
An account used in a partnership to record an individual partner's investment in the partnership plus the indi- vidual's share of any undistributed partnership income. In a corpo- ration, the equity sections have two parts: the contributed capital and retained earning
Write a short note on why wealth creation is a longer-term concept?
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