Characteristics which accounting information posess
What are the key qualities or characteristics which accounting information should possess?
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The accounting information must possess certain key qualities or characteristics which are as follows:
a) Relevance.b) Reliability.c) Comparability.d) Understandability.
Briefly illustrate the general role of accounting?
An account in financial reporting that increases the book value of a liability account. An adjunct account is a valuable account from which cred
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Cost Reduction: The procedure of looking for, finding and eliminating unwarranted expenses from the business to raise gains without containing a negative impact on the product quality. Most of the business managers will engage in periodic cost reducti
Assignment 1: A adjusted Trial balance table given below: Southwest Business School Q : Define Cost Object Cost Object (also Cost Object (also referred to as Cost Objective): It is an activity, item, or output whose cost is to be computed. In a wide sense, a cost object can be an organizational division, task, a function, product, service, or a customer.
Cost Object (also referred to as Cost Objective): It is an activity, item, or output whose cost is to be computed. In a wide sense, a cost object can be an organizational division, task, a function, product, service, or a customer.
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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
What do you mean by the term relevance which is accounting information?
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