Items that appear under liability side of a balance sheet
Briefly describe the type of items that appear under the liability side of a balance sheet?
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i) Capital
ii) Loan from bank
iii) Long Term Liabilities
iv) Current Liabilities
v) Mortgage
vi) Sundry Creditors
vii) Advance from Customers
viii) Outstanding Expenses
ix) Income Received in Advance
Describe briefly the computation of the present value?
Give a brief introduction of the term ‘Convention of Consistency’?
What do you understand by the term discounted payback period?
Write down the exit routes accessible to VCF?
How are deferred expenditures dealt with in profitability statement?
Revenue Expenditure influence the profitability statement in period?
Rs. Sales 2,40,000 Variable costs 1,44,000 Fixed costs 26,000 Profit before tax 70,000 Rate of tax 40% Firm is proposing to buy the new plant that could generate extra annual profit of Rs. 10,000. The fixed cost of new plant is expected to Rs. 4000. New plant would increase sales volume by Rs. 40,00
Give brief information about the term ‘Margin of Safety’?
Briefly describe the term Expenses?
Write down the various kinds of expenditures considered for the reason of accounting?
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