What is contra?

Q: What is the purpose of EDI?

A: Transparency in electronic data exchange: Expanding EDI enables suppliers to get access to a buyer's…

Q: What does Vouching test?

A: Vouching is the process that involves reviewing of original evidence to check whether the…

Q: What are ADRs?

A: Answer: An American depositary receipt (ADR) is a negotiable asset that denotes a non-US company…

Q: What is Glass-Steagall Act?

A: Glass-Steagall Act splits up the investment and commercial banking segments of an investment bank.

Q: What is the answer question (A ) only??

A: Lets understand the basics. Management calculates the cash collection and cash payment for the…

Q: what is ROEL - ROEU?

A: ROE is the rate computed by dividing net income with share holder’s equity. It is the rate by which…

Q: What does overstated mean?

A: Definition of Overstated:- Overstated uses two way terms by accountant: The entered or reported…

Q: what does fichacuristic mean?

A: NOTE: The word "fichacuristic" is a spelling/typo error of the word "futuristic" in Step 2 first…

Q: correct

A: Correct Answer :- C 6000 Gain

Q: Is this correct? What's the correct answer

A: Calculation of Profit   CALCULATION PARTICULAR AMOUNT       A Sale 480,000 B Direct…

Q: What is indirect quote?

A: A quote is an expression of foreign exchange rate of one currency with domestic currency. Quote is…

Q: What is lien?

A: Lien: This is a case or legitimate right against properties normally utilized as collateral so as to…

Q: What is lessor?

A: A lease is the agreement between two individuals. Under the lease agreement one individual provide…

Q: What is option?

A: Options are the derivatives contract that gives investor discretion to sell or buy the assets like…

Q: Which statement is correct?

A: A current ratio is one of the ratios used to assess the liquidity of the company. It shows that the…

Q: What is MM Proposition I?

A: Modigliani and Miller’s approach is an element of economic theory and it forms the basis for modern…

Q: Which statement is true?

A: Financial Statements: These are records of the finance relating activities and positions of the…

Q: What is a constraint?

A: Internal Control:   It refers to a set of rules, policies adopted by a business to ensure accuracy…

Q: What are the Differences in Maturities?

A: Maturities in the context of the bond mean that bonds are issued for a specific period of time. It…

Q: What is materiality? Explain?

A: Materiality: The accounting concept which focusses that all the financial items and figures which…

Q: Define the term Multiple Peril?

A: Multiple-perilIt is the insurance coverage package for small and commercial businesses. It is the…

Q: What is forex

A: A financial market is a marketplace where financial securities are being created and traded between…

Q: What is the meaning of incoterms

A: International chamber of commerce is the supervisor of international trading, and try to provide…

Q: Which of the following is true?

A: You have asked three different questions but as per our protocol we provide solution to only one…

Q: nterest?

A: D,E and F are Partner in a partnership firm and sharing profit in the ratio of 1:3:6.

Q: How is materiality concept applied?

A: Accounting principles:

Q: what goes where?

A: Let us recall 3 golden rules of accounting: Debit the expense, credit the income. Debit what comes…

Q: What is the EBIT?

A: The income generated by a business in the course of normal operations, after deducting the direct…

Q: Define uncertainity ?

A: "Uncertainty" in accounting refers to the difficulty of predicting outcomes because of limited or…

Q: What is forward points?

A: Forward points are nothing but basis points added or subtracted from the spot rate of an underlying…

Q: What is a cfar?

A: Cash Flow at Risk (CFAR):Cash Flow at Risk is a term which focuses on the risk of receivables and…

Q: What does the statement mean?

A: A financial system is a collection of entities that allow money to be exchanged, such as banks,…

Q: what is materiality?

A: Materiality is an accounting concept that signifies the importance of an item to users of financial…

Q: Which statement is false?

A: Corporate Bonds: These are bonds issued by the corporation for raising capital. These are…

Q: What is the decision rule for ARR?

A: Accounting rate of return refers to rate of profit earned on an investment. The ARR is computed by…

Q: What is conflict of interest?

A: Conflict of interest: Conflict of interest occurs when a person derives personal benefits by…

Q: what is stare basis?

A: Stare Decisis is a rule that obligates courts to follow decided cases i.e. it means to stand on…

Q: What is notional value?

A: Notional value is used to value the underlying asset. In simple words it tells how much of value a…

Q: What is COSO? What is the PCAOB?  Why are they important?

A: Committee of Sponsoring Organizations of the Tread way Commission (COSO) is an organization formed…

Q: What is a contra account?

A: