Financial Accounting Part I Textbook for Class XI © no N C tt E o R be T re pu bl is he Accountancy d ISBN 81-7450-507-5 First Edition February 2006 Phalguna 1927 Reprinted October 2006 Kartika 1928 October 2007 Kartika 1929 January 2009 Magh 1930 January 2010 Magha 1931 January 2011 Magha 1932 PD 90T RPS © National Council of Educational Research and Training‚ 2006 ALL RIGHTS RESERVED No part of this publication may be reproduced‚ stored in a retrieval system or transmitted‚
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Chapter 1 Question 1-18 Consumers Union is a nonprofit organization that provides information and counsel on consumer goods and services. A major part of its function is testing of different brands of consumer products that are purchased on the open market and then the reporting of results of the tests in Consumer Reports‚ a monthly publication. Examples of the types of products it tests are middle-sized automobiles‚ residential dehumidifiers‚ flat-screen TVs‚ and boys’ jeans. a.) In what ways
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Introduction to Accounting Accounting is a profession used to make financial and business decisions. Billions of dollars exchange hands every day‚ in millions of separate business transactions. These are recorded and reported on using a comprehensive set of guidelines‚ referred to as Generally Accepted Accounting Principles (GAAP). Brief History of Accounting Accounting was born before writing or numbers existed‚ some 10‚000 years ago‚ in the area known as Mesopotamia‚ later Persia‚ and today the
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Master of Business Administration- MBA Semester 1 MB0041 – Financial and Management Accounting Q1. Accounting is one of the oldest‚ structured management information system. Give the meaning of accounting and book keeping? Explain the objectives of accounting? ANS. Meaning of Accounting- The systematic and comprehensive recording of financial transactions pertaining to a business. Accounting also refers to the process of summarizing‚ analyzing and reporting these transactions. The financial statements
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QUIZ Chapters 11-20 1.) What is the medical procedure I&D ? A) Incision & dilatation B) inward & downward C) Irrigation & dressing D) Incision and drainage 2.) When prepping a pt for a sterile procedure‚ how do you clean the “site” ? A) Alcohol prep pad B) Pour iodine/betadine onto a 4X4 gauze and clean in a circular motion inward to outward C) No cleaning is needed D) Pour iodine/betadine over the “site” 3.)
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bunch of independent clauses together with "ands" and "buts" results in the infamous Answer Selected Answer: c. Run on sentence . Question 2 .2 out of 2 points Correct When two independent clauses are glued together with nothing more than comma the result is a Answer comma splice. . Question 3 .2 out of 2 points Correct An dependent clause masquerading as s sentence is known as a Answer CorrectAnswer: a. fragment. . Question 4 .2 out of 2 points Correct
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A. What is the difference between accrual-basis accounting and cash-basis accounting? The difference between the two types of accounting is when revenues and expenses are recorded. In cash basis accounting revenues are recorded when cash is actually received and expenses are recorded when the expenses are actually paid. B. Why would politicians prefer the cash basis over the accrual basis? The accrual basis system deals with deprecation of the value of equipment‚ land and such. Politicians would
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employees is fair. In most cases when a union is involved‚ there is a percentage of compensation that has been agreed upon. 1.7) Financial accounting (i) Management accounting (h) Financial reporting (g) Financial statements (f) General-purpose assumption (b) Integrity (c ) Internal control (e) Public accounting (d) Bookkeeping (a) 2.3) Amber Company’s assets total $150‚000 and its liabilities total $85‚000. What is the amount of Amber’s
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International businesses have a number of significant factors that are crucial to take into account when intending to internationalise into an emerging or developing country. Macro environmental factors include the legal and political environment‚ cultural views and the economic differences of a country (Kozlinkis & Guseva 2006‚ p. 111). The macro environment can be defined as the main external and irrepressible factors that affect a business or an organisations decision-making‚ also affecting
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1.3 Legislation in Employment Why legislation to employment exists: * To protect the rights of the employers and employees by providing rules and regulations that must be followed. * For advice on your contract. * Health and safety rights regarding; Wages‚ holiday rights‚ sick pay etc. * To protect people of different race‚ religion‚ sexuality or gender. * To stop exploitation of workers by their employers‚ e.g. minimum wage‚ safety policies‚ redundancy payments‚ etc. * To
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