0
What difficulties could arise if no cross-indexing existed between the general journal and the ledger accounts?
If no cross-indexing existed between the general journal and the ledger accounts, it would become challenging to trace transactions back to their source, leading to potential errors in record-keeping. This lack of linkage could result in discrepancies between the financial statements and the underlying transactions, complicating audits and financial analysis. Additionally, it would hinder the efficiency of data retrieval, making it difficult for Accountants to verify balances and ensure accurate reporting. Overall, the absence of cross-indexing could undermine the integrity and reliability of the financial reporting process.
What else can I help you with?
What is difference between branch accounts and departmental accounts?
Followings are the main differences between branch and department:1. Branches are separated from the main organization. Departments are attached with the main organization under a single roof.2. Branches are the outcome of tough competition and expansion of business. Departments are the result of fast human life.3. Branches are geographically separated. Departments are not separated rather existed under a same roof.4. Branches are of different types like dependent, independent and foreign. There is no such classification in department because all are common under the same roof.5. Allocation of branch common expenses does not arise. Allocation of departmental common expenses is a tough job.6. To find out the net result of the organization, the reconciliation of different branch account is a main job.In departmental accounting, no reconciliation is necessary because there is a central account division
Can you sue for interest on an unpaid accounts receivable on oral contract in Arizona?
Generally no, unless you can prove that the oral contract included interest to be paid. It's going to be difficult enough to prove an oral contract existed if the person you are suing denies that such contract was ever made. If you have witnesses to the fact, this helps, otherwise it is going to end up being your word against theirs and depending on the judge, the outcome may not be favorable.
Difference between trading account manufacturing account?
A Trading Account is a Final and financial statement drawn by a firm at the end of their accounting period showing the relationship that existed between their Sales volume and Purchases and the Gross profit or loss arrived. When Net Sales exceeds the Cost of Sales then there is Gross Profit. However, if the Cost of Sales exceeds the Net Sale(Sales less Return Inwards) then there is Gross loss. A Manufacturing Account is part of the Final accounts drawn by a manufacturing entity before drawing the Trading Account. Since the firm is engaged in the manufacturing or converting of raw materials to finished goods,they express the monetary value of Prime Cost(Direct Materials + Direct Labour + Direct Expense) and Overheads( Sum of all Indirect cost) to determine the cost of Production.
What is meant by Lack of duty?
Lack of duty is a defense against a lawsuit from a third party suing the auditor. It basically means that if an auditor is being sued then they can counter it by stating that there was no contract that existed between the two parties. It is usually used when a review engagement is done ( a step down from a true audit)
Difference between Absolute Liability and strict liability?
The distinction between strict and absolute liability can be seen by examining the issue of causation.For strict liability offenses no evidence of intent or any other mens rea is required. It is however normal for the prosecution to be required to prove causation. For example, in speeding it is necessary to prove the defendant was "driving", but not that he intended to drive faster than permitted, or even that he knew he was doing so.Just like strict liability, absolute liability offences do not require evidence of intent or mens rea. As for causation, the prosecution only has to prove that the proscribed event occurred or situation existed, then the defendant will be liable because of his status.So, in the EMPRESS CAR CASE the company was liable for the pollution of the river even though the diesel tap was turned on by an unknown stranger
For what percentage of time has life existed on Earth?
Life has existed on Earth for approximately 3.5 billion years, which accounts for around 75% of the total time that the planet has existed (about 4.6 billion years).
What actions of hardships and difficulties did the settlers counted?
Early European settlers into the America's encountered a series of common difficulties. Issues with drinking water and disease killed many, and this was further complicated by the incidence of high infant mortality that already existed. Establishing agriculture in unexploited lands required tremendous labor, and for these reasons famines and starvation existed in some settlements/outposts. Lastly the relationships between early settlers and natives varied from periods of coexistence, hostilities and war to exterminating indigenous tribes.
How do historians know the silk road even existed?
There is evidence of its existence, and there are effects of it still present today. Plus, it existed during the Modern and Post Modern era, so there are written accounts of it.
What is the difference between Pangea and Rodinia?
Rodinia is a supercontinent that existed between 1300 - 600 million years ago. Pangea is a supercontinent that existed between 360 - 245 million years ago.
Is there a proof that the black death exists?
There are historical and medical accounts that the black death very well could have existed and most likely did occur.
What is the difference between IPv5 IPv6?
ipv5 never existed.
What are facts about witches between 1564 and 1616?
They never existed.
What was the altercation that existed between Japan and the US?
World War II.
Which society existed between 250 bc - 1100 ad?
Mayans
What relationship existed between the battlefronts and the war deaths?
(Ale's mother)
Many white southerners feared economic difficulties if what no longer existed?
Many white Southerners feared economic difficulties if slavery no longer existed, as it was the foundation of their agricultural economy. The plantation system relied heavily on enslaved labor for the production of cash crops like cotton and tobacco, which were vital for the region's wealth. The end of slavery raised concerns about labor shortages and the ability to maintain their economic prosperity, leading to widespread resistance against abolition and the subsequent Reconstruction efforts.
What is annulled?
An annulment is a declaration that a marriage never existed between a specific couple.
