Answer:
you can get money to further your education, also engage in stem activities.
Explanation:
Answer:
b. Dr Production overhead control a/c Cr Material control account.
Explanation:
Indirect material in the production process is defined as those input that cannot be directly traced to the product. They are different from direct materials like raw materials that are used to make the product.
Indirect materials are classified as overhead.
The double entry for issue of indirect materials is:
Debit production overhead
Credit raw materials inventory (material control account)
Note direct production materials and indirect production materials are credited to material material control account on purchase.
Answer:
Explanation:
When the future revenue producing ability of the inventory is above its original cost the
companies should reports their inventory value with LCNV method.
Answer:
Explanation:
fears of reverse discrimination
Answer:
balance sheet
Explanation:
A balance sheet is one of the most essential financial statements that helps accountants and managers grasp the financial structure of the company, at a <u>certain point of time</u>.
The balance sheet clearly states the company's assets, liabilities and stockholders' equity, rigorously adhering to the basic accounting equation:
Assets = Stockholder's Equity + Liabilities
The equilibrium of the equation above is non-negotiable; it relies on common sense too. Every company owns things - <em>assets</em>, which were obtained with the aid of a e.g. bank loan - <em>liability, </em>or investor money - <em>stockholders' equity</em>.
These three groups can be further itemized into smaller, concrete accounts. Also, the <em>liquidity principle</em> is applicable in terms of ordering the items in an increasing liquidity order.
The time context is also an important distinction of this specific financial statement. While statements such as the P&L statement refer to <em>a specific time interval</em> (year, quarter...), the balance sheet reflects <em>a specific point of time. </em>