Define a compensating balance

Q: Define Unclassifi ed balance sheet

A: Introduction: Unclassified balance sheets are typically utilized only for internal purposes.…

Q: Describe the purpose of the balance sheet and understand its usefulness andlimitations.

A: A balance sheet is a statement of the financial position of a business that lists the assets,…

Q: (d) Based on (c), what will be the ending balance in AFDA? What is net realizable value of A/R?

A: Accounts Receivables - Accounts Receivables are the amount unpaid by the customer for the service…

Q: Distinguish between assets and liabilities.

A: Step 1 Assets can be defined as the resources owned by the organization which is capable of…

Q: How to make balance sheet to balance

A: The financial statements of the business includes the income statement and balance sheet of the…

Q: Explain the effect of compensating balance with example.

A: Compensating Balance Compensating Balance is refer as the minimum amount of the money which are…

Q: correcting the balance of

A: Adjusting journal entry: Adjusting journal entries are the journal entries that are generally passed…

Q: What is balances sheet?

A: Financial statements refer to structured records in a proper format that conveys the performance and…

Q: Explain the components of the balance sheet.

A: The balance sheet is also known as "position statement" of the business, as it tells…

Q: Describe factoring of receivables.

A: Definition:   Factoring: A factoring is a financial transaction in which a company sells its…

Q: The following question pertain to the financial sta

A: substantive audit procedure are processes, steps, tests performed by auditors, which creates…

Q: Define refunding operation

A: Introduction: Refunding is the method of withdrawal or repayment of an existing bond issue by…

Q: Define disbursement float

A: Disbursement float is a technique by which entity manages the cash as when a firm disburses the…

Q: or Balance sheet

A: The right answer is option d Financial performance of the company over a period of time,

Q: Why we call balance sheet a “balance sheet”?

A: A balance sheet is a very important statement for every company it provides a snapshot of your…

Q: Define a comparative balance sheet?

A: A comparative balance sheet presents the information about the Assets, liabilities and Equity side…

Q: Define balance sheet

A: Introduction: The financial statement is a detailed analysis of the financial situation of the…

Q: Describe the balance sheet elements?

A: Balance sheet: This financial statement reports a company’s resources (assets) and claims of…

Q: Where to show TDS in the balance sheet?

A: Solution:-  TDS shown in the balance sheet as follows under:-

Q: Explain an example of balance sheet.

A: Balance sheet: This financial statement reports a company’s resources (assets) and claims of…

Q: how to understand a balance sheet

A: Financial statements of the business are indicator of financial position of the organisation.…

Q: What is the difference between a PL and a balance sheet?

A: Balance sheet records the assets and liabilities of the firm at a point in time. P&L account or…

Q: Explain the uses of balance sheet.

A: Balance sheet: This financial statement reports a company’s resources (assets) and claims of…

Q: Briefly explain the relationship between assets, liabilities, and revenue.

A: Assets is the tangible or Intangible factor in the business, which can be valued in terms of money…

Q: Define the term credit revenue.

A: Credit Revenue: When goods or services are sold on credit, they are recorded as revenue, but since…

Q: describe diff erent types of assets and liabilities and the measurement bases of each

A: Assets are worthy resources that business owns to get future benefits. They are fixed assets which…

Q: Define adjustment bureau

A: Adjustment bureaus generally operate under the laws of the federal government. These adjustment…

Q: Define monetary unit.

A: Step 1 An economic unit that acts as a medium of exchange for transactional purposes is referred to…

Q: Define Classifi ed balance sheet

A: Financial statements are statements which report the profitability and financial position of…

Q: Describe the primary elements of balance sheet.

A: Balance sheet: This financial statement reports a company’s resources (assets) and claims of…

Q: What are the key features of a balance sheet?

A: Balance sheet: It refers to a financial statement that shows all the liabilities, assets, and…

Q: What are the basics of a balance sheet?

A: Financial statement:  Financial statements are condensed summary of transactions communicated in the…

Q: what are checks and balances ?

A: Checks and Balances:-It is a system where each branch of government has power and helps in…

Q: Question. Explain briefly Balance sheet?

A: Introduction: A balance sheet is a breakdown of all the assets and liabilities of a company…

Q: What exactly does the word balance mean in the title of the balance sheet ? Why do we balance the…

A: The balance sheet represents the financial position of the company that includes the assets,…

Q: Define Accruals.

A: Accruals for expenses means expenses incurred but payments are not made yet. Accruals fro incomes…

Q: Explain the purpose of a balance sheet

A: Balance sheet is the financial statement of an organisation which shows the financial position of…

Q: How to calculate breakeven balance

A: Break even analysis explains how much total revenue is required to cover both the fixed and variable…

Q: What is a classified balance sheet?

A: Balance sheet: This is a financial statement that reports a company’s resources (assets) and claims…