opinion
What is the adjusting entry for merchandise inventory?
Assuming that the amount of the physical count of the stock of merchandise is less than the recorded amount, the adjusting entry is a debit to Cost of Goo...
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Opinion
opinion
Is Amway on the Forbes list?
Amway was ranked by Forbes as the 42nd-largest privately held company in the United States in 2018, and as the number one largest company on the Direct Se...
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opinion
Which of the following is the term used when speaking about the quickness?
1. Rapidness of movement or activity: celerity, dispatch, expedition, expeditiousness, fleetness, haste, hurry, hustle, rapidity, rapidness, speed, speedi...
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opinion
Is revaluation reserve a part of equity?
A revaluation surplus is an equity account in which is stored any upward changes in the value of capital assets. If a revalued asset is subsequently dispo...
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opinion
What is the antonym of word worsen?
Antonyms: meliorate, better, ameliorate, improve, amend. Synonyms: wane, reject, refuse, exasperate, pass up, turn down, aggravate, slump, go down, correc...
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opinion
What is the meaning of being relevant?
The Meaning of Relevance To be relevant, an action or person must be connected to a larger scheme, a grander plan–the ultimate “matter in hand.” It means ...
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opinion
What is biological asset?
Biological Assets are assets that are living – for example, trees, animals, or cannabis. The International Accounting Standard 41 (IAS 41) states that a b...
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opinion
Is EBITDA the same as gross revenue?
Gross profit appears on a company’s income statement and is the profit a company makes after subtracting the costs associated with making its products or ...
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opinion
Is a commitment fee an interest expense?
In both cases, the IRS concluded that the commitment fees were deductible under Sec. 162 as business expenses rather than under Sec. 163 as interest. Anot...
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opinion
Which accounting standard is for depreciation?
IAS 16 defines depreciation as ‘the systematic allocation of the depreciable amount of an asset over its useful life’. The ‘depreciable amount’ is the cos...
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