What is Local Assistance
Local Assistance (LA): The character of expenditures prepared for the support of local government or other locally administered actions.
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1. Albert Jones went to his local department store to purchase a pair of Levi s. He thought that the style of Levi that he wanted would sell for about $30 a pair. When he got to the store, he saw a sign which said, Levi s, all styles, $18 a pair. Albert bought three pairs of Levi s. The behavior of
Inventory is sometimes thought of as an essential evil. Describe. Inventory ties up funds and these are not earning an explicit return. Some inventory is frequently necessary, however, as companies attempt to hold the lowest acceptable amount.
Modified Accrual Basis: The base of accounting in which revenues are acknowledged when the underlying transaction has occurred as of the last day of the fiscal year and the quantity is measurable and accessible to finance expenditures
Overhead: Those elements of cost essential in the production of an article or the performance of a service that are of such a nature which the amount applicable to the product or service can’t be determined directly. Generally they relate to tho
Describe difference between business risk and financial risk?Business risk refers to the uncertainty company hold regarding to its operating income (also termed as earnings before interest & taxes or EBIT). Business risk is brought onto sale
Obligations: The amounts that a governmental unit might legally be needed to pay out of its resources. Budgetary authority should be obtainable before obligations can be formed. For budgetary aims, obligations comprise payables for goods or services r
Disadvantages of the Finger print technique: Health concerns while touching the sensor which is being touched by many number of individuals. Sometimes due to age and occupation may cause some diff
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