b) If the trial balance can be ‘in balance’ and still have errors‚ give examples of the type of errors that can occur leaving the trial balance in balance. For example‚ if $523 is the correct amount to be entered for both credit and debit side but entered $532‚ trial balance will show the same amounts for both debit and credit side but contains error. In addition‚ reverse entries can cause trial balance to be in balance but still contains error. For example‚ instead of recording debit
Premium Balance sheet Generally Accepted Accounting Principles Asset
WORK LIFE BALANCE The article talks about the importance of work life balance‚ especially in relation to India. In the Indian context‚ work life balance has many social and cultural connotations. There are many factors that need to be taken into account to understand work balance with respect to India better: India is a deeply religious country‚ housing abundant religions within itself and the most dominant of them is Hinduism. The caste system is also prevalent in India. In combination with the
Premium India Sociology Caste system in India
concept. b. monetary unit assumption. c. economic entity assumption. d. corporate form of ownership 2. All of the financial statements are for a period of time except the a. income statement. b. balance sheet c. owner’s equity statement. d. statement of cash flows 3. A trial balance will not balance if a. a journal entry is posted twice. b. a wrong amount is used in journalizing. c. incorrect account titles are used in journalizing. d. a journal entry is only partially posted. 4. In a service-type
Premium Balance sheet Generally Accepted Accounting Principles Liability
BUDGET BALANCE • Budget balance (savings by government) is defined by: where : tax revenues : government purchases of goods and services : value of government transfers • Recall that a positive budget balance is a budget surplus‚ and a negative budget balance is a budget deficit. • Effects of fiscal policies: o Expansionary fiscal policies (increased government purchases‚ higher government transfers‚ lower taxes) decrease the budget balance. o Contractionary
Premium
SAMPLE BALANCE SHEET Most accounting balance sheets classify a company’s assets and liabilities into distinctive groupings such as Current Assets; Property‚ Plant‚ and Equipment; Current Liabilities; etc. These classifications make the balance sheet more useful. The following balance sheet example is a classified balance sheet. Sample Balance Sheet: Example Company Balance Sheet December 31‚ 2010 ASSETS | | | LIABILITIES | Current Assets | | | Current Liabilities | | | Cash
Premium Marketing Management Strategic management
Discuss the importance of the Balance of Power with reference to the relevant theory in international relations. Introduction The concept of Balance of Power is a tenet of Realism that seeks to explain the formation of alliances in international relations. This is done in the context that Realism as a Theory argues that states as actors in the international system act out of self interest‚ need to survive in a hostile environment and to maximise profit. Balance of Power can be understood best
Premium World War II United States Superpower
Features of a Fusion Welded Joint 1. 2 Joining and Assembly Distinguished Joining - welding‚ brazing‚ soldering‚ and adhesive bonding These processes form a permanent joint between parts Assembly - mechanical methods (usually) of fastening parts together Some of these methods allow for easy disassembly‚ while others do not 3 Welding Joining process in which two (or more) parts are coalesced at their contacting surfaces by application of heat and/or pressure Many welding processes are
Free Welding Arc welding
The novel A Fine Balance‚ written by Rohinton Mistry‚ takes place in India in the mid-1970s when the government declares a “State of Internal Emergency”. A period of political turmoil and violence ensues‚ wreaking havoc onto all as they try to survive under new orders. During this time‚ four individual’s lives become intertwined in unimaginable ways as they each conquer problem after problem‚ relishing the smallest moments of bliss as they try to continue on. This relentless battle between hope and
Premium Fiction Character Literature
A balance sheet is a statement businesses produce that outlines their assets and liabilities. It is a snapshot of their fixed assets‚ current assets‚ current liabilities and long term liabilities for a specific moment in time such as the end of a financial year. Using these figures‚ a business is able to calculate their net working capital; how much the business is worth‚ whether it can afford to expand and if it is a good venture for investors. There are different groups of people who are interested
Premium Generally Accepted Accounting Principles Inventory Balance sheet
Employment Relations Essay Work-life balance 1. April 2009 Table of contents Table of contents p. 1 Introduction p. 2 Definitions p. 2 Work-life Balance p. 3-4 Conclusion p. 5 References p. 6 Topic: Work-life balance has become an important social issue. Critically analyze the contributions of business‚ unions and government towards promoting work-life balance. Introduction: To balance work and leisure is an important issue
Premium Trade union Employment Labour relations