Explain Agricultural business
Explain the term Agricultural business in term of Accounting?
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Agricultural business: This business is joined with production of raw material, vegetables, seeds, milk and cattle farming that are famous in many country. 70 percent are doing agricultural activities. Cow was its main wealth. Although it is sad story of agricultural business which they are not wasting their valuable product cow by selling to butchers.
Why the rule of nominal account is just opposite with the rule of personal account and real account?
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Specify some of instances under FASB 52 that foreign entity’s functional currency would be same as the parent firm’s currency.
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