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Liability is that amount which is payable by company to internal or external users or people in short run or in long term or at the event of liquidation of company.
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What is an unfavourable bank balanCe?
A current laibility
Credit balance in capital account means laibility or an asset?
liability
What are the subfields of accounting?
1. Financial Accounting 2. Cost Accounting 3. Management Accounting 4. Social Accounting 5. Human Resource Accounting 6. National Accounting
What are the different fields of accountung?
1- Cost Accounting 2 - Financial Accounting 3 - Management Accounting
What is the 3 golden rules of accounting?
personal accounting nominal accounting real accounting
What is an unfavourable bank balanCe?
A current laibility
Credit balance in capital account means laibility or an asset?
liability
Why creditors are laibility?
Any money you owe to someone else is a liability to you and an asset for them. You have to pay (liability) and they get to receive (asset).
Can a nursing home owner seek reimbursement from medicare for insurance premiums paid for laibility insurance?
No, Medicare does not reimburse liability insurance premiums.
Define 'Accounting' Distinguish between Financial Accounting and Management Accounting?
Define 'Accounting' Distinguish between Financial Accounting and Management Accounting
What are the subfields of accounting?
1. Financial Accounting 2. Cost Accounting 3. Management Accounting 4. Social Accounting 5. Human Resource Accounting 6. National Accounting
What are the different fields of accountung?
1- Cost Accounting 2 - Financial Accounting 3 - Management Accounting
What is the 3 golden rules of accounting?
personal accounting nominal accounting real accounting
What are the accounting area governing accounting profession?
what are the accounting areas governing accounting profession
How does management accounting differ from cost accounting?
Management accounting includes both financial and cost accounting, tax planning and tax accounting. Cost accounting, on the other hand, does not include financial accounting, tax planning and tax accounting.
What are accounting principles?
The Accounting Principles are the assenition rules of accounting and the application of these rules, method & procedures to actual practice of accounting. These Accounting principles have been divided into a. accounting concepts b. accounting conventions.
3 important activities in accounting process?
real accounting, nominal accounting,personal accounting
