Is note receivable a part of quick asset?

Q: Outline how you would incorporate the following into the CCAPM:a. Liquidity.b. Nontraded assets. (Do…

A: The question is based on the concept of the consumption based capital asset pricing model (CCAPM).…

Q: Increasing interest expense will have what effect on EBIT?

A: EBIT stands for Earnings before Interest and Tax, the amount earned by the company from the…

Q: What is credit quality, and how is it assessed?

A: Credit quality:   Credit quality defines how much a company is capable of repaying its debt on time…

Q: What are the advantages of balance sheet?

A: Financial Statement:   A financial statement is the complete record of financial transactions that…

Q: How do you calculate simple interest and commission?

A: Interest and commission is a special type of income generated on the principal amount or net…

Q: What do you mean by tangible real accounts and intangible real accounts?

A: Real Account :Real Accounts are the ones that are related with properties, assets or possessions.…

Q: n what way do assets differ from liabilities?

A: Solution: Asset is a resource owned by the business having some economic value with expectation of…

Q: How much should be presented as "Trade and other receivable" under current assets?

A: Particulars Amount (P) Trade Receivables 725000 Trade Notes Receivables 100000 Less: Sales…

Q: How efficient is an Analysis at the account level technique?

A: The question is to discuss efficiency of financial analysis at account level or based on the data…

Q: What is deposits in transit?

A: Definition: Bank reconciliation: Bank statement is prepared by the bank. The company maintains its…

Q: What are some of the accounting applications that incorporate the time value of money into…

A:

Q: Describe the discounting process?

A: discounting is the process of determining the future value into present value, In discounting time…

Q: What is the definition of bookkeeping?

A: Bookkeeping is considered as a part of accounting. It deals with the recording of day-to-day…

Q: What are the advantages of matching the maturities of assets and liabilities? What are the…

A: Matching the maturities of assets and liabilities refers to matching the similar category of assets…

Q: What is purchase returns?

A:

Q: What is liquid asset?

A: A liquid asset can be described as the asset which can be sold into the market easily and can be…

Q: What is aging of receivables?

A:

Q: How do fixed asset systems differ from purchases systems?

A: Definition: Purchase system: The identification and procurement of the inventory needs for the…

Q: Which account amount is the most important (larger) in the assets side and in the liabilities side…

A: Balance sheet is the summary of the financial position of the company on a particular date in which…

Q: What are the advantages and disadvantages of using credit?

A: Credit is defined as the financial agreement where the borrowers receive something valuable and in…

Q: Explain the significance of time value of money in financial valuation?

A: Time value of money means the value of a sum of money in future is not the same as the value of…

Q: What are the essential differences among demand deposits, savings deposits, and time deposits?

A: Deposits refers to the sum of money that are deposited with banks or any financial institution.…

Q: What is invoice discounting and what are the advantages

A: Introduction: Discounting is nothing but financial process in which in exchange for a fee, a debtor…

Q: posit multiplier and money multiplier ? Explain.

A: Deposit Expansion Multiplier System The deposit expansion multiplier is also known as Deposit…

Q: Explain assumptions related to monetary unit?

A: As per the money measurement assumptions, only quantifiable transactions are recorded in the books…

Q: Define Current Receivables.

A: Current receivables are recorded under current assets of the company.

Q: When it comes to calculating interest, what procedures are used?

A: The Answer:

Q: How does company’s investment in receivables is influenced by several variables? What are the…

A: Receivables: Receivables refer to an amount to be received in future. General classifications of…

Q: What is another way of saying "Interest earned on interest"?

A: "Interest earned on interest" means the interest earned on the interest amount which was earned on…

Q: what is credit

A: Finance refers to the management of money and includes activities like lending, budgeting,…

Q: HOW DO YOU FIND NET CURRENT RECIEVABLES

A: The total amount of money owing to a corporation by its clients minus the money owing that will most…

Q: What's the difference between book value and carrying value?

A: The entity needs to determine the carrying amount and book value of assets for preparing its…

Q: What are the revenue credits? Give an example?

A: Meaning of Revenue Credit:Revenue Credit refers to the payments received in advance for services…

Q: Explain the difference between monetary and nonmonetary assets and liabilities.

A:

Q: What is disaggregated financial information?

A:

Q: What is the relationship between current assets and currentliabilities?

A: Current assets: The assets which could be converted into cash within one year like accounts…

Q: WHAT IS ECONOMIC LIFE OF ASSET?

A: Asset refers to the useful resource of a business entity that is being owned by it that would help…

Q: What are the methods of calculating Interest?

A: Interest is an additional amount received on a deposited amount for a deposited period. It increases…

Q: Is profit an asset or liability?

A: profit or income are generally classified under assets.

Q: Money is a savings or investment tools

A: Saving implies the setting aside of money that is not spent now for a future emergency or purpose.…

Q: What is asset specificity?

A: It is a term which is specially used to depict the inter party relationships amongst transactions

Audit Procedures

Audit Procedures are methods and techniques performed by the auditor to determine the quality of financial information of clients, thereby expressing an opinion on true & fair view of financial statements and entity position. They are identified and applied at the planning stage of audit after determining audit objectives, scope, approach, and risk assessment.