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Question 1. Asked on :28 October 2020:01:00:43 PM

 Why did Griffin slip into the big London store and What did he do there ?

-Added by Shahinshah Iqbal English » Footprints Without Feet

Question 2. Asked on :22 October 2020:07:10:41 PM

Which accounting principle states that the same amount of time must be used for each accounting period?

-Added by nisha sheikh Accountancy » Gk Accounting

Answer:

Matching principle is the accounting principle that requires that the expenses incurred during a period be recorded in the same period in which the related revenues are earned. This principle recognizes that businesses must incur expenses to earn revenues.

-Answered by Anjali Kumari On 23 October 2020:06:31:13 PM

Question 3. Asked on :22 October 2020:07:09:07 PM

What is it called when your expenses are greater than your revenues on an income statement?

-Added by nisha sheikh Accountancy » Gk Accounting

Answer:

A net loss occurs when total expenses are higher than total revenue. This is the opposite of net profit and is usually recorded at the bottom line of the income statementA loss can also refer to a cost that doesn't relate to normal business operations.

-Answered by Anjali Kumari On 23 October 2020:06:40:32 PM

Question 4. Asked on :22 October 2020:07:05:29 PM

 What is the amount collected from the sale of goods and services called?

-Added by nisha sheikh Accountancy » Gk Accounting

Answer:

 Value of Supply of Goods or ServicesValue of supply means the money that a seller would want to collect the goods and services supplied. The amount collected by the seller from the buyer is the value of supply.

-Answered by Anjali Kumari On 23 October 2020:06:38:03 PM

Question 5. Asked on :22 October 2020:07:02:48 PM

What does the abbreviation GAAP stand for?

-Added by nisha sheikh Accountancy » Gk Accounting

Answer:

Generally accepted accounting principles (GAAP) refer to a common set of accounting principles, standards, and procedures issued by the Financial Accounting Standards Board (FASB). Public companies in the United States must follow GAAP when their accountants compile their financial statements.

-Answered by Anjali Kumari On 23 October 2020:06:41:56 PM

Question 6. Asked on :22 October 2020:06:59:51 PM

What do you mean by Tangible Real Accounts and Intangible Real Accounts?

-Added by nisha sheikh Accountancy » Gk Accounting

Answer:

Tangible Real Account – Those assets which can be touched and have a physical existence are defined as tangible real accounts.

Example  Machinery A/c, Vehicle A/c, Building A/c

Journal Entry –

  • Debit what comes in
  • Credit what goes out

Intangible real account – Those assets which have some monetary values but can’t be touched are referred to as intangible real accounts.

Example – Goodwill, Patents, Copyrights

Journal Entry –

  • Debit what comes in
  • Credit what goes ou

-Answered by nisha sheikh On 22 October 2020:07:01:47 PM

Question 7. Asked on :22 October 2020:06:58:16 PM

 What is section 209 (4A) in the Companies Act, 1956?

-Added by nisha sheikh Accountancy » Gk Accounting

Answer:

Section 209(4A) in The Companies Act, 1956 states that:

Every company must preserve the books of accounts, together with the vouchers relevant to any entry in such books of account, in good order, relating to a period of not less than 8 years immediately preceding the current year.

So of the Current Year Ending is – March 2020 then, the company needs to store the accounts and vouchers for the following years:

March 2019, 2018, 2017,……, to 2012

-Answered by nisha sheikh On 22 October 2020:06:59:30 PM

Question 8. Asked on :13 October 2020:07:16:39 PM

 Where is Coorg ?

-Added by Anjali Kumari English » Glimpses Of India (coorg)

Answer:

 Coorg is situated between Mysore and Mamgalore .

-Answered by Anjali Kumari On 13 October 2020:07:18:39 PM

Question 9. Asked on :12 October 2020:07:17:39 PM

 What does 'It' in the third line refer to ?

-Added by Anjali Kumari English » Fog (poem)

Answer:

'It' in the third line stands for both a cat and the fog . The poet has compared the og with a cat .

-Answered by Anjali Kumari On 12 October 2020:07:19:58 PM

Question 10. Asked on :12 October 2020:07:12:43 PM

 What does sandburg think the og is like ?

-Added by Anjali Kumari English » Fog (poem)

Answer:

 Sandburg thinks that the fog is like a cat .

-Answered by Anjali Kumari On 12 October 2020:07:13:57 PM


 

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