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What is the meaning of matching principle?
Matching principle is the accounting principle that requires that the expenses incurred during a period be recorded in the same period in which the relate...
Jan 04, 2026 0 views
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How do you calculate retained earnings on balance sheet?
To calculate retained earnings subtract a company’s liabilities from its assets to get your stockholder equity, then find the common stock line item in yo...
Jan 04, 2026 0 views
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What are sources of short term?
Main Sources of Short-term Finance Trade Credit. Consumer Credit. Installment Credit. Account Receivable Financing. Bank Credit. Other Sources. What are t...
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What are financing activities in cash flow statement?
The financing activity in the cash flow statement focuses on how a firm raises capital and pays it back to investors through capital markets. These activi...
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Is indirect material a variable or fixed cost?
Variable Costs. If the cost object is a product being manufactured, it is likely that direct materials are a variable cost. (If one pound of material is u...
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What are the dates for fiscal year 2020?
FY 2020 is the fiscal year that will started on October 1, 2019, and ended on September 30, 2020. FY 2021 started on October 1, 2020 and ends on September...
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Is management accounting comes after financial accounting?
Management Accounting is that branch of accounting which records and reports both the financial and nonfinancial information of an entity. Users of financ...
Jan 03, 2026 0 views
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Does bad debt expense have a debit balance?
When accountants record sales transactions, a related amount of bad debt expense is also recorded. This is recorded as a debit to the bad debt expense acc...
Jan 03, 2026 0 views
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Is drawings a profit or loss?
Drawings account is one of the temporary accounts and is closed at the end of accounting period. But this account is not closed in the income statement i....
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What is balance day adjustments required for accruals?
A balance day adjustment is an adjustment you need to make at the end of the reporting period. These adjustments are made to certain accounts so that you ...
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Which method is best for valuation of goodwill?
Goodwill valuation is the systematic evaluation of the goodwill of the company to be shown in the balance of the company under the head intangible assets ...
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What items are not included in cash flow statement?
Items not requiring cash: Depreciation and amortization. Deferred income taxes. Loss on disposal of property and equipment, net. Which of the items result...
Jan 03, 2026 0 views
