q describe about fixed assetsfixed assets cant be
Q. Describe about Fixed Assets?
Fixed Assets can't be quickly turned into cash without interfering with business operations.Fixed assets comprise buildings, land, machinery, furniture, equipment and long-terminvestments.
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q what is accounting systemaccrual basis system or method -- an accounting system which records revenues andexpenses at the time when transaction
q what is accrued expensesaccrued expenses accruals -- an expense that has been incurred though not yet paid forsalaries are a good instance
q what do you mean by agingaging -- a process where accounts receivable are sorted out by age typically current 30 to60 days old 60 to 120 days old
q explain about amortizeamortize -- to charge a regular part of an expenditure over a fixed period of time forinstance if something cost 100 and is
q describe about fixed assetsfixed assets cant be quickly turned into cash without interfering with business operationsfixed assets comprise
q what is intangible assetsintangible assets are items likecopyrights patents licenses trademarks franchises andother kinds of rights or things of
q what are bad debtsbad debts -- amounts owed to a company which arent going to be paid an accountreceivable becomes a bad debt when its recognized
q what is the use of balance sheetbalance sheet -- a statement of the financial position of a company at a single specific timeoften at the close of
q why we need book valuebook value -- total assets minus total liabilities book value also meansvalue of an asset as recorded on the companys
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