What is the objective of output controls? List and briefly describe different output controls.

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A: According to daily allocation method, Period income from January 01 to December 31 is allocated…

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A: Answer:-  Internal audit meaning:- An organization's internal control includes corporate governance…

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A: Return on investment :— It is calculated by multiplying rate of return with investment.   In this…

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A: Break even analysis :— Break even analysis is a method for examining the relationship between sales…

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A: Partnership is one of the form of business organisation, under which two or more than two persons…

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A: Treatment of Accounting Equation The owner's equity amount provided in the basic accounting equation…

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A: The balance sheet is a summary of permanent accounts prepared at the end of the accounting period.…

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A: Cash flow from operating activities means that the amount of cash inflows and outflows from the…

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A: The following types of works need to performed  1) sourcing the transaction 2) Appraising the deal…

Q: What accounts go on the closing journal? Can someone provide an example for a visual?

A: At the conclusion of an accounting cycle, closing entries are performed to move amounts from a…

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A: The time value of money is an important concept because this concept will help determine the future…

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A: Time Value of money :— According to this concept, value of money in present day is more than the…

Q: Why are "cash cost" and "book cost" important?

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A: Return on assets measures the total net income earned from the amount of total assets invested into…

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A: Journal Entry :— The way of Recording Financial Transaction. Whether it is Related to Business or…

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Q: How does analyzing more and diverse data around us help answer accounting questions? Give a specific…

A: Data Analyzing is most important factor for the process of accounting/ Auditing. More you analyze…

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A: The expenses incurred during the creation of a product are known as manufacturing costs. Direct…

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

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A: ABC COSTING :— A powerful tool for measuring performance, Activity-Based Costing (ABC) is used to…

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A: Account Receivable Account :— It is an asset account. It has debit balance. Debit side of accounts…

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Q: Is depreciation expense closed? If so, is it closed to income summary like the other expense…

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