Growing up all I ever wanted was money. Back when I was about 7 years old I would always ask my parents for money. But I could never figure out how to go by saving my money. I would try so hard to not spend it on candy or ice cream but that would never work. I would always hear my parents talk about going to the bank to make a deposit. I never would ask them what deposits were. A few years had passed and I finally asked my parents what deposits were? My father told me a deposit is something you take
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National Accounts • Gross Domestic Product (GDP) measures the final value of all goods and services that are produced within a country in a given time period. • There are 4 types of expenditure: 1. 2. 3. 4. Consumption: expenditure by domestic residents Investment: expenditure by firms on plants & equipment Government purchases: expenditure by governments on goods and services Net exports (exports minus imports): net expenditure by foreigners on domestic goods and services 1 GDP
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(Also known as "T" Account and Account) Having passed the double or journal entries‚ the next step is to post these double or journal entries into Ledger accounts. Ledger account or an account is simply the classification of double entries which we have made in General Journal or any other journal. In an account we bring together all similar entries in one place. For example a company has purchased goods on 4th and 7th January‚ we would put both entries in purchases account because of their similar
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DEMAT Account DEMAT Account Meaning: In India’s banking terminology‚ the term DEMAT Account refers to a deposit made at an Indian financial institution that can be used for investing in shares of stocks and other financial assets. Securities are held electronically in a DEMAT Account‚ thereby eliminating the need for physical paper certificates. Definition Demat account is a safe and convenient means of holding securities just like a bank account is for funds. Today‚ practically 99.9% settlement
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LECTURE 1 PARTNERSHIP ACCOUNTS 1.1 LECTURE OUTLINE 1.1 The provision of the Partnership Act 1.1.1 Formation/ membership limits 1.1.2 Rights of partners 1.1.3 Obligations of partners 1.1.4 Dissolutions of partnerships Business/ Firm 1.1.5 Privileges of partners 1.2 Realignments 1.2.1 Treatment of goodwill in partnership Admission of new partners 1.2.2 Admission of new partners Retirement of partners 1.2.3 Retirement of partners 1.3 Dissolution of partnerships 1.3.1 Piece-meal Dissolutions
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EXAM SAMPLE EXAM 1. The accounting process does not include: a. b. c. 2. d. e. labor unions all of the above statement of owner’s equity income statement balance sheet d. e. both b and c all of the above This account does not appear on the income statement: a. b. c. 6. lenders prospective owners customers Expenses can be found in the: a. b. c. 5. balance sheet balance sheet and journals balance sheet and income statement income statement
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CXC PRINCIPLE OF ACCOUNTS PROJECT School-Based Assessment (S.B.A) (Year 2012) [pic] Submitted by: Danique Arthurs Year: May/June 2012 Name of School: Charles Fordyce Business College Name of Teacher: Charles Fordyce Centre No: 100228 Candidate No: Territory: Jamaica Table of Contents Introduction………………………………………………………………..5 Acknowledgement………………………………………………………...6 Description of Business…………………………………………………...7 Location of
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Uncollectible Accounts Lesley-Ann Herard ACC 281 John Istvan November 17‚ 2014 Uncollectible Accounts Charity care in a health care environment gives patients reduced or even free services to those who have low incomes. The idea of charity care was associated to the way hospitals helped low- income families. The write-offs and potential costs that are provided to the patients are determined before anything is done. It is up to the discretion of the hospital if any or all the cost is
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CXC CSEC Principles of Accounts Exam Guide Section 1: Introduction to Principles of Accounts SPECIFIC OBJECTIVES The students should be able to: CONTENT 1. Explain the concept of accounting; concept of “Accounting” and “Principles of Accounting” 2. State the purpose of accounting; Accounting as a business practice – the purpose of Accounting. 3. Identify the users of accounting information; Internal and external users Accounting information and their needs 4. Outline
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Job Description ----Account Payable---- General Purpose Perform accounting and clerical tasks related to the efficient maintenance and processing of accounts payable transactions. Main Job Tasks and Responsibilities ▪ review invoices and check requests ▪ sort and match invoices and check requests ▪ set invoices up for payment ▪ process check requests ▪ prepare and process accounts payable checks‚ wire transfers and ACH payments ▪ reconciliation of payments
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