What is debit

Q: What means accounting information?

A: Accounting information -   the information which is generated from the accounting process is known…

Q: what are the charatristics of accounting

A: The answer is as fallows

Q: What is the definition of accounting?

A: Accounting is the process of recording financial transactions related to a business. The accounting…

Q: What is accrual accounting and how does it work?

A: Accrual accounting is a system of accounting wherein: Revenues are recognized as and when they are…

Q: Financial accounting serves what purpose

A: Introduction : Financial accounting The process of preparing financial statements, which comprise…

Q: Accounting Explne

A: The business maintains its records in the form of accounting. The business being small or larger, it…

Q: What do you mean by Assets, Liabilities, Capital, Revenues and Expenses?

A: Accounting is primarily concerned with identifying, recording, measuring, summarizing transactions…

Q: what is accounting?explain it.

A: A business needs quantitative record of its over financial performance and financial position in…

Q: What's is the accounting equations

A: Accounting equation is considered as foundation of double entry accounting system. Accounting…

Q: What is accrual accounting?

A: Accrual basis of accounting is an accounting method based on which accrual transaction are recorded…

Q: asis accounting. Explain with examples?

A: Answer: Basis of differences Cash Basis Accrual Basis Types of transactions recorded Only cash…

Q: What is accounts

A: The explanation is provided as follows:

Q: Accrual accounting is the main takeaway here due to the what principle

A: Accrual accounting is an accounting method where revenue or expenses are recorded when a transaction…

Q: financial assertion

A: Financial assertions are statements made by management in an an assertive way regarding the items in…

Q: What is the important of Accounting

A: Accounting is the process of systematically recording, measuring, analyzing and communicating…

Q: do the terms dehit and credit signify increase or decrease or can they signify either ? Explain

A: The effect of debit or credit on an account depends upon the nature of that account. It depends…

Q: When is Profit and Loss Account made? Why?

A: Profit and loss account: profit and loss account also called an income statement. Every business…

Q: Is Capital debit or credit?

A: As per Business Entity concept Business is treated as an entity which is different from Proprietor.…

Q: About accounting

A: Financial Accounting- Financial accounting is the process of documenting, compiling, and disclosing…

Q: When are debits increases? When are debits decreases?

A: Debits Increases and Decreases: This forms a fundamental part of understanding of the flow of…

Q: What are the principle of accounting

A: Principles of accounting are the rules and regulations that must be pursued by an organization when…

Q: What is accounting information?

A: Solution:- Accounting information means as follows under:-

Q: What is accural vs cash basis accounting. Explain with examples?

A: Cash Accounting: A form of accounting in which receipts are reported during the period in which they…

Q: What are the accounting concept?

A: Solution:- Introduction:- Accounting concepts are defined as basic assumptions on the basis of which…

Q: What is Accounting

A: The accounting is main part or language of the business which helps to maintain the all the…

Q: Meaning and types of accounting

A: Introduction: Accounting is one in all the foremost important roles of a corporation. An accountant…

Q: What is the purpose of accounting?

A: Accounting is the process of recording the financial transactions and events of a business. The…

Q: What is an accounting system for?

A: Accounting system basically refers to the way of maintaining the books of accounts. It is an…

Q: What is Basis of accounting

A: The system by which revenues and expenses are recognized in a company's financial statements is…

Q: what is accounting?

A: Bookkeeping refers to the process of identifying, measuring and recording of financial transactions.…

Q: What’s financial instrument

A: Financial instruments can be broadly divided into: a. cash instruments b. derivatives instruments

Q: What are Fiscal instrument

A: The instruments used in making the fiscal policy effective and efficient are generally called Fiscal…

Q: What's balance sheet

A: Every business prepares financial statements at the end of the accounting period in order to analyse…

Q: at is accural vs cash basis accounting. Explain with example.

A: Cash Accounting: A form of accounting in which receipts are reported during the period in which they…

Q: accounting consept

A: Introduction Accounting Concept: Accounting concept refers to the fundamental assumptions,…

Q: Hypothetically discuss Assumptions of Accounting.

A: The organization and operation of a business are defined by key accounting assumptions. They…

Q: What is the present account balance?

A: An annuity is the deposit of a fixed amount regularly at a fixed interval of time over a specified…

Q: quation

A: As far as formulas go, the accounting equation is simply stated as: Assets = Liabilities + Owners…

Q: Is unearned income a debit or credit?

A: The Adjustment entries are prepared to adjust the revenue and expenses of the current period.

Q: What is accounting explain briefly?

A: Accounting means the process of recording the transaction , posting , summarizing , interpreting and…

Q: Differentiate between net income and net cash flow?

A: Net Income is the difference between revenue and expenses recognized in an accounting period.Net…

Q: What’s accounting

A: The accounting is the main part of every business.