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What financial measures in a business operation impact the financial position of a business?
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∙ 15y ago
what is a business person willing to take risks called?
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∙ 15y ago
Huzaifa Supari
Huzaifa Supari
Double entry system
Marvin Schuster
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Ratio in isolation provide into the financial performance and financial position?
rations in isolation reveal little about financial position and financial performance of business.
What is the business transactions?
A business transaction is a financial event that changes the value in certain accounts and therefore affects the financial position of the business.
The accounting system that reveals the financial position of a business is?
The accounting system that reveals the financial position of a business is financial accounting. Financial accounting produces statements called the balance sheet, and profit statement. These two statements allow for further calculations to see how the business is handling cash flows, account receivables, financial leverage, etc.
What must management acknowledge to the accountant in writing as a precondition to financial review?
responsibility for the fair presentation in the financial statements of financial position and results of operation and cash flows in conformity with generally accepted accounting practices
When did the statement of cash flows become a requirement for business?
The statement of cash flows replaced the statement of changes in financial position in 1987 as a required financial statement for all publically traded business enterprises.
Why comparative balance sheet is prepared?
Balance sheet is prepared to know the financial position on the Business/Company.
What are the factors affecting capital structure in financial management?
1. Business Risk 2. Financial Flexibility 3. Managerial Attitude 4. Tax Position
What is a financial statement that includes assets and liabilities?
A Balance Sheet, also sometimes referred to as a Statement of Financial Position.
Why is it necessary for a business to keep a record of all its financial transactions?
. Every one should maintain systematic record to access the true and fair value of their financial position or their companies
What is adequate disclosure concept?
it states that all relevant and material events affecting the financial condition or position of a business and the results of its operations must be communicated to users of financial statements
How would you write 0.008 in a fraction?
The first position after the decimal point measures tenths, the second position measures hundredths and the third position measures thousandths. So, 0.008 = 8/1000
Function of accounting?
Accounting helps the business create reports for both internal and external shareholders. Accounting also helps a business understand their financial position within the industry.
