How can we explain what is an asset, consumable, stock,
store item ? What are the essential differences?
Answers were Sorted based on User's Feedback
Answer / sreeram
Asset: Asset means which bought for the purpose of carrying
the business in the terms of producing the goods not for the
purpose of resale.
Consumable: consumable means the products which required for
producing goods, Like raw materials ets.
Stock means the goods which have been produced and are
readily available for sale. it may opening stock or closing
stock.
Note: It may include raw materials but need to specify
depending on the situation.
Is This Answer Correct ? | 16 Yes | 5 No |
Answer / ican&*^
Asset: Asset means which bought for the purpose of carrying
the business in the terms of producing the goods not for the
purpose of resale.
Consumable: consumable means the products which required for
producing goods like maintenance of Machines ,etc
Stock means the goods which have been produced and are
readily available for sale. it may opening stock or closing
stock. It also includes Stock of RM
Note: It may include raw materials but need to specify
depending on the situation.
Is This Answer Correct ? | 14 Yes | 5 No |
what is a suspense account ??
Explain what are the rules for debit and credit for different accounts to increase the amount in your business accounts?
What is meant by Centeral Excise tax waht percentage its calculated
What is the depreciation rates for all the assets?like plant & Machinery,computers,software,land & buildings
what is the meaning of deferred revenue ? give me some examples
suppose total salaries paid is 10000, 1000 is outstanding. how & which amount will shown in receipts & payment, income & expenditure and balance sheet accounts
what is wct ? who take its benefit? e.g. we are works contractor, we are liable to take its benefit or not..
Hi,i went for an interview they asked me why a balance sheet should tally.can anyone tell me
Dear Sir, We are running a security agencies (Man power Service Provider)we bought security uniform from our vendor. please suggest us, we may make entry through Purchase Entry or Journal Entry what is suitable for accounting ???
what is the procedure to appoint an Austrlian citzen as indian company director...
what are GAAP items and examples of such?
Tell me what does the investment of personal assets by the owner will do?