Define the term Equipment
Define the term Equipment in Accountancy? Why they are used?
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Equipment might be stated as all such instruments that are employed for producing any product or machine or service. They have particular design to handle particular activities. They are purchased for long period. Therefore, equipment is the portion of fixed assets. We charge depreciation on equipment with some rate of depreciation. For showing its accurate written down value in books of company. We might provide other name of equipment such as tool, implement, or apparatus. There is a little difference among machine and equipment. Machine has its own system to do any work however equipment is just a mechanical tool for employing production or making or repairing any huge machine. That is the cause; we keep all equipment in individual head in the fixed assets.
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Q : Stages in the life cycle of a family There are seven typical stages in the life cycle of a family with children. Fully explain and give an example to describe each of those seven stages.
There are seven typical stages in the life cycle of a family with children. Fully explain and give an example to describe each of those seven stages.
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