world affairs
How is working capital affected by inflation?
Cost of financing the working capital rises because of increase in interest rates. When the inflation rate is high, it will have a direct impact on the re...
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World Affairs
world affairs
How do you enter capital expenditures?
To calculate capital expenditures, follow these steps: Locate depreciation and amortization on the income statement. Locate the current period property, p...
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world affairs
How do you disclose contingent liabilities?
A contingent liability is recorded if the contingency is likely and the amount of the liability can be reasonably estimated. The liability may be disclose...
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world affairs
What type of account is profit and loss account?
Profit and Loss Account is a type of financial statement which reflects the outcome of business activities during an accounting period (i.e. Profit or los...
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world affairs
What are the expenses in income statement?
Expenses: Expenses are the costs that the company has to pay in order to generate revenue. Some examples of common expenses are equipment depreciation, em...
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world affairs
What is legal entity in ERP?
Based on these treatments, a legal entity can specify actions such how to report on recognized revenue or how to credit and debit different general ledger...
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How do you prorate annual depreciation?
This method involves multiplying the original asset cost by the depreciation rate every year in which it is owned. This calculates the depreciation that c...
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world affairs
How do you record realized losses on investment?
Creating Journal Entries Suppose mark to market shows a $90,000 investment has dropped by $10,000. You report that in your account books as a $10,000 dedu...
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world affairs
What are the disadvantages of bank reconciliation statement?
List of Disadvantages of Bank Reconciliation It can create checks that clear the bank after being voided. It can issue un-cleared checks that continue not...
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world affairs
How many types of audit report are there?
four types There are four types of audit reports: and unqualified opinion, a qualified opinion, and adverse opinion, and a disclaimer of opinion. What are...
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