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What is gift card redeemed? And what is entry posting.

Asked by Harender vishkarma 28/02/2018 Last Modified 28/02/2018

4 Answers

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What is matching concept in acvount?

Cost should match with revenue for that period

Harender

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What are the fixed assets? Give example.

as per as 10 fixed asset is an asset which is beingh kept in the business for the purpose producing goods or rendering services i e that asset is not being held for the purpose of sale in the normal course...

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What will be the effect of change in income on giffin goods and normal goods ?

Giffen goods are a special kind of inferior products in which demand increases when price increases. But in the case of income changes, there's an inverse relationship between market and income. With an...

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difference b/w cash & cash eqivalant..

Cash is basically the money that is available with us in liquid form.And cash eqivalent are those items which can be converted into liquid form as and when required like fixed deposit ,they can be converted...

Madhav

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What is the difference between Bad debts and bad & doubtful debts. What are the legal compliances for the provisions for doubtful debts and bad debts recovered after being written off.

Both are pretty much same.. Bad debts amount to be transferred to P/L a/c (dr side) Baddebts recovered P/L credit side as income Provision on doubtful debts to be deducted from debtors in balance sheet..

Suneha Sharma

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The Verifiable Objective Concept holds that accounting should be free from personal bias. Measurements that are based on verifiable evidences are regarded as objectives. It means all accounting...

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Forfeiture Of Shares (II PUC And CBSE Accountancy)

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