Answer / shalini parisha

Commerce: Commerce is a division of trade or production
which deals with the exchange of goods and services from
producer to final consumer. It comprises the trading of
something of economic value such as goods, services,
information or money between two or more entities.

Definition: Accounting has also been defined by the AICPA
as"The art of recording, classifying, and summarizing in a
significant manner and in terms of money, transactions and
events which are, in part at least, of financial character,
and interpreting the results thereof.

Meaning:" Accountancy or accounting is the art of
communicating financial information about a business entity
to users such as shareholders and managers. It involves the
process of recording, verifying, and reporting of the value
of assets, liabilities, income, and expenses in the books
of account (ledger) to which debit and credit entries
(recognizing transactions) are chronologically posted to
record changes in value

Answer / murali royal

Commerce: means exchange and distribution of goods and
services. Which includes trade and aids to trade.

Exchange: means transferring the goods and services from
one person to another.
Distribution: means transporting or supplying the goods and
services from one place to another place.

Accounting: Its the language of business. Means the process of
recording,classifying,summarizing,interpreting,analyzing and
reporting of business transactions.

What is standing order

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cash sales and credit sales both are asset or liability?

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how to give the jv for the following transation eg',Our Comapny Name U2 1.cheque recd from customers of Associate Comapany (U1 Ltd):575 on U2(Our company Name).we deposited that cheque in our bank a/c. 2.U1 debited U2 for 575/- passing 1 jv like Due from U2(Our comapnY) dr 575 To collection from Customers cr 575. now how can I recognise both entries and how can i reconsile my BRS... This Receipt is not belongs to U2

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what happens if LIFO Price Increases?

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Expand ________GHMC

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What is the Memorandum voucher?

1 Answers   Ramco,

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can aney one explain it what is spin off / split off ?

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why we prepare the brs

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discounted our own note 60-18% for 4,500 note. the proceeds will be directly credited to bank account. what is the entry of this?

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What is EBITDA

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what is the use of accounting standards

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Short Answer on __________Event

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