Define Expense
Expense: The Outflow or other using up of resources or acquiring liabilities (or a combination of both), the advantages from which exert to an entity's operations for the present accounting period, however they do not expand to future periods.
Liability of partners: A) Under contract law: Liability is joint only (collectively); The creditor has only one right of action (except in NSW, where liability is now joint and several).
List the items that might appear on the debit side and credit side of a partner's fluctuating capital account. Answer: On debit side: Drawing, interest on drawing, c
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Employee Stock Ownership: It is a qualified, defined contribution, employee benefit (that is, ERISA) plan designed to invest mainly in the stock of sponsoring employer. ESOPs are "qualified" in the logic that the ESOP's sponsoring company, the selling
Cost Allocation: This is a technique of assigning costs to activities, outputs, or other cost objects. The allocation base employed to assign a cost to objects is not essentially the cause of the cost. For illustration, assigning the
1. HulaHug Corp., which manufactures hula hoops, currently has two product lines, the Roundabout and the Sassafras. HulaHug has total overhead of $124,478. HulaHug has identified the following information about its overhead activity pools and the two
A financial analysis tools that measures the need for financing. The formula is the cash-flow from operating activities divided by the cash paid for long-term asset. Cash paid for long-term assets can be found on the statement of cash-flow, in the investing-activities
Expenditure that increases the dollar amount of fixed assets on the balance sheet. These outlays either increase the value of assets already owned or add additional assets. The payments increase the future benefit of an asset by extending the life of the asset, increa
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We study optimal government debt maturity in a model where investors derive monetary servicesfrom holding riskless short-term securities. In a simple setting where the government is the onlyissuer of such riskless paper, it trades off the monetary premium associated w
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