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What is mathing principle?
Matching principles advocates the matching of all expenses in specific fiscal year with matching reveneus for the same fiscal year.
Matching concepts of depreciation?
basic matching concept of account is that all expenses of same fiscal years should be matched with revenues of that fiscal year and depreciation is also charged for that portion of asset which is used in specific fiscal year.
Fiscal years runs during?
Fiscal year for incorporated companies generally runs from the month of incorporation to 365 days later. ( If incoporated June 15th 2009 generally year end would be May 31, 2010 and the next would run from June 1, 2010 to May 31, 2011 and the so on) Calendar year runs from Jan to Dec, all un-incorporated business have a fiscal year that is the same as calendar year from Jan to Dec
What is an income statement?
Income statement is financial statement which shows all incomes and expenses for specific fiscal year and net profit or loss for specific fiscal year.
WHAT IS The sum of all budget deficits and surpluses is known as?
fiscal year
Why might a department store select a fiscal year ending January 31 rather than Fiscal year ending December 31?
In the United States, a business can have a fiscal year ending any date of the calendar year. Almost all use the end of a month, which simplifies accounting. For a department store, they might want to let the entire Christmas shopping season (including post-Christmas returns) be all on one fiscal year. They also might want to have plenty of time to finish post-holiday inventories before tackling the end-of-fiscal-year accounting.
What was the value of all model ts produced in fiscal year 1911-1912?
78440
Why is EPS presented on the income statement as opposed to all other financial statement ratios?
Because earning for specific fiscal year is calculated in income statement that's why earning per share for specific fiscal year is also presented in income statement.
What period of time is the income statement?
Income statement can be made for any period of time but normally it is one fiscal year and all expenses and incomes related to that fiscal period is shown.
What is the current 15 year fixed mortgage rate?
The current 15 year fixed mortgage rate from many companies is about 4.25%. This is not the same rate for all companies because some have special deals on for particular customers.
What RC duties performed during end-of-year closeout on Calendar and Fiscal Year records except?
The RC performs all of the normal duties at the end of year closeout on calendar and fiscal year records. The only exception is the transferring of records to inactive file areas with a disposition of less than one year.
What was the value of all model ts produced in fiscal year 1911- 1912?
not the 70 some thousand one
