1.Define the going concern assumption.
a. Assumption that a business will continue to operate into the foreseeable future.
b. Requirement that accounting records should all be reported in a single currency.
c. Transactions should be recorded o
1.Which of the following items is least likely to appear on the balance sheet of a service
b. Accounts Receivable
c. Accounts Payable
2.XYZ Company provides $2,000 worth of services to customers and will receive
Corporations: The Financial Statements
Explain the different requirements for
public and private companies when
presenting financial statements
an income statement and a
statement of comprehensive income
Binsons County Markets
To: Management and Senior Supervisors
Date: Fri, Nov, 27th, 2015
Subject: Responsibility Accounting Internal Accounting and Budgeting
Provided will be further information about our business and goals. By using the followi
BY- DAMINI GUPTA
Accounts Payable and receivable departments
Financial management training programs
Accounting Program Offers:
Solid background in standard
Personal Accounting &
What is the meaning of accounting and the
principle of NET WORTH?
To track how much you are worth:
How much you own (assets)
how much you owe (liabilities)
The role of the Balance Sheet is to:
Records what we