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What are the three accounting period?
The time taken to perform a particular set of financial statements is called accounting period. It differs with various reports and company types. The major 3 accounting periods are as follows:CalenderPiscalNatural business
What financial statement is concerned with the company at a point in time?
This relates to a company's balance sheet (aka statement of financial position). The balance sheet provides, in essence, a "snapshot" of a company at a point in time. This differs from a statement of cash flows, or an income statement, both of which essentially show the events or transactions of a company that occurred during a certain period of time.
Is it true that chart of accounts for a merchandising entity differs from that of a service entity?
Yes, the chart of accounts for a merchandising entity typically differs from that of a service entity. A merchandising entity includes accounts related to inventory, cost of goods sold, and sales revenue from physical products, while a service entity focuses on accounts related to service revenue and expenses associated with providing services. This distinction reflects the different nature of their operations and financial reporting needs.
What are the characteristic of profit?
its primary purpose is typically to fulfill a social mission instead of generating profits, and it differs from a governmental organization because in the United States it is not owned or controlled by any level of government.
Is expenditure different from assets and liabilities?
Yes, expenditure differs from assets and liabilities. Expenditure refers to the outflow of money for goods or services consumed, impacting the income statement. In contrast, assets are resources owned by a company that provide future economic benefits, while liabilities are obligations or debts owed to external parties. Together, these concepts form key components of a company's financial statements, with expenditure affecting profitability and assets and liabilities contributing to overall financial position.
A novel differs from a short story because it?
A novel differs from a short story because it is more likely to include a subplot.
What is the difference between LLC vs Inc?
Inc. refers to an entity being a corporation while LLC means limited liability company. The difference is in the structure of the companies. A corporation also offers limited liability, but it differs from a corporation in structure and the regulations it must follow.
How does humans digestion differs from rabbits?
It differs because Rudolph the Red nose Reindeer doesn't like cheese.
How the nuclear atom differs from the uniform sphere model of the atom?
The nuclear atom differs from the uniform sphere model, because they both are made from different atoms because of the elements.
A digital signal differs from an analog signal because it?
it is continuous
Explain what a food web is and how it differs from a food chain?
a food web is when you have different varieties and it differs because a food chain is only a line
An opinion differs from a fact because it?
is subjective while facts are objective
Fascism differs from communism because .?
Fascism supports private enterprise. A+
What are GAAP Financial statements?
Generally Accepted Accounting Principles. These are a framework of guidelines for financial accounting. The GAAP in each country differs and the standards are shaped by the relevant country company law and governed by an accounting standards board.
Hawaii differs from the other states?
Because it is tropical and consists only of islands.
Why do you see different constellation at different times?
Because the times differs from the constellations.
The simple stomach differs from the esophagus because it?
because it has a third layer in the muscularis called the oblique muscle layer.
