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Provision is a temporary account or permanent account?
Provisions indicate how much money is put into an allowance account during a given period. Provisions are therefore temporary accounts. Allowances, which indicate the cumulative amount of money set aside for things like bad debts, are asset accounts and therefore permanent accounts.
Why is provisions for doubtful debt excluded from the sales control account?
Provisions for doubtful debts are excluded from the sales control account because they represent an estimate of potential future losses rather than actual sales transactions. The sales control account is designed to track actual sales revenue and receivables, while provisions for doubtful debts reflect a conservative approach to accounting, ensuring that the financial statements accurately represent expected cash flows. Including them would distort the true sales figures and misrepresent the company's financial health.
How do you close sbi demat account?
Hi, Go to Bank with a written application for closure of DMAT account.....also mention Client ID in the application.....They shd close ur DMAT account.... Thanks
Which account will be included in both service and merchandising companies closing entries?
Sales is included in both sales and merchandising companies.
Do provisions come out of profit?
Yes, provisions are typically deducted from profit to account for anticipated liabilities or expenses. They represent a company's estimate of future obligations, such as bad debts or warranty claims, which can reduce the overall profit reported in financial statements. By recognizing provisions, a company ensures that its financial results more accurately reflect its financial position and potential future expenses.
What are the historical cost argue for and against its usage in the preparation of final account of a sole trader?
argue for and against the usage of historical cost in preparation of final account
What is a Special Mention Account for loan rescheduling?
Special Mention Account also known as SMA are loans which are overdue for payment minimum 2 month
How do you reply to a mention on a protected account on Twitter?
Even though the account is protected, you can still mention people normally by writing their username (@username) in your tweet.
What are the argue for and against historical cost as a principle of accounting in the preparation of final account of a sole trader?
What are the argue for and against historical cost as a principle of accounting in the preparation of final account of a sole trader?
Provision is a temporary account or permanent account?
Provisions indicate how much money is put into an allowance account during a given period. Provisions are therefore temporary accounts. Allowances, which indicate the cumulative amount of money set aside for things like bad debts, are asset accounts and therefore permanent accounts.
Does legacy has a girlfriend?
no he does not but he did mention on his twitter account that he is looking for a "new girl"
What futures brokerage companies have had account freezes?
The companies of brokerage that ad account freezes are The Cedar Falls, PFGBest and MF Global. Other companies that had the same fate were CFTC and MT4 Forex.
What is account concepts?
Accounting concept are customs and tradition which are used as a guide for preparation of financial statements.
What are the advantages of having an ACH merchants account?
An Automated Clearing House account is more secure than setting up an account with credit card companies personally. A clearing house account my also have features that are not offered with an account directly set up with credit card companies.
How companies adjust their prices to take into account different types of customers and situations?
discuss how companies adjust their prices to take into account different types of customer and situations
Can credit card companies give your account number to idenity fraud companies without your consent?
YES
What companies offer the best high interest savings account?
Several companies offer high interest savings account. The companies that offer the highest include Ally Bank, American Express Bank, and Sallie Mae Bank.
