operating systems are those that include additional functionality and are sold at a price above our standard editions. Products and Services: Windows operating system: Windows 7‚ including Home Basic‚ Home Premium‚ Professional‚ Ultimate‚ Enterprise‚ and Starter Edition; Windows Vista‚ including Home Basic‚
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Q15-4. In a contribution income statement‚ costs are classified according to behavior as variable or fixed‚ and the contribution margin (the difference between total revenues and total variable costs) that goes toward covering fixed costs and providing a profit is emphasized. In a functional income statement‚ costs are classified according to function (rather than behavior)‚ such as manufacturing and selling and administrative. This is the type of income statement typically included in corporate
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1 Chapter 1 Definition and Basic Concepts Thermodynamics is defined as the science of energy. Originally derived from Greek words : therme (heat) and dynamics (power) – descriptive of early attempts at conversion of heat into power. Modern interpretation includes all aspects of energy and energy transformations‚ power generation‚ refrigeration‚ and the relationships among properties of matter. There are two approaches in thermodynamics studies: (1) classical thermodynamics – a macroscopic
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Chapter 3—THE BASICS OF ADJUSTING ENTRIES Study Objectives—after studying the chapter‚ you should be able to: 1. Explain the time period assumption. 2. Explain the accrual basis of accounting. 3. Explain why adjusting entries are needed. 4. Identify the major types of adjusting entries. 5. Prepare adjusting entries for deferrals (prepayments). 6. Prepare adjusting entries for accruals. 7. Describe the nature and purpose of an adjusted trial balance. 8. Prepare adjusting
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MODULE BASIC CONCEPTS OF POLYHEDRONS This module will introduce to you basic ideas about polyhedrons. It will help you determine the surface of polyhedrons. It will also explain to you regular polyhedrons‚ its classifications and how to construct it. Learning Goal This module is written for you to: 1. Define polyhedrons; 2. Identify and illustrate the surface of polyhedrons; 3. Determine convex polyhedrons; 4. Determine regular polyhedrons; and 5. Construct regular polyhedrons.
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ACCOUNTING CONCEPT AND CONVENTIONS In drawing up accounting statements‚ whether they are external "financial accounts" or internally-focused "management accounts"‚ a clear objective has to be that the accounts fairly reflect the true "substance" of the business and the results of its operation. The theory of accounting has‚ therefore‚ developed the concept of a "true and fair view". The true and fair view is applied in ensuring and assessing whether accounts do indeed portray accurately the business
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Question 1: Define accounting. Answer : Accounting is a process of identifying the events of financial nature‚ recording them in Journal‚ classifying in their respective ledgers‚ summarising them in Profit and Loss Account and Balance Sheet and communicating the results to the users of such information‚ viz. owner/s‚ government‚ creditors‚ investors etc. According to the American Institute of Certified Accountants‚ 1941‚ “Accounting is an art of recording‚ classifying and summarising in a significant
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1121 theory Topic 1 BDA/inventory * Time period assumptions: firm would find it desirable to report their financial statements more frequently therefore the economic life could be divided into artificial time periods. * Why are adjusting entries required? The purpose of balance day adjustment is to recognise revenue and expenses in the relevant Period. * Compare and contrast the purposes of adjusting entries‚ closing entries and reversing entries The purpose of closing entry is
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The warehouse is subject to a mortgage of $125‚000. If Potomac accepts Wyden Inc.’s offer to give Potomac $325‚000 in cash and assume full responsibility for the mortgage on the property‚ what amount does Potomac realize on the sale? $450‚000 3. Montana Max sells a 2‚500-acre ranch for $1‚000‚000 in cash‚ a note receivable of $1‚000‚000‚ and debt relief of $2‚400‚000. He also pays selling commissions of $60‚000. In addition‚ Max agrees to build a new barn on the property (cost $25‚000) and
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identifies himself with another man who has talents which he does not possess. In other words‚ a person’s act of associating with another man is to compensate for what he lacks himself‚ thus assuring his survival. Plato said in Absolute Materialism[3] that all persons before they assume physical existence in this world are free-floating pure ideas. He calls this the “noumena.” By a freakish form of accident the noumena was broken into two and both fell down from the ideal world into earth and are
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