Interested to Buy Any Domain ? << Click Here >> for more details...
How can we explain what is an asset, consumable, stock,
store item ? What are the essential differences?
- 2 Answers
- 41213 Views
- I also Faced
- E-Mail Answers
Answer Posted / 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 |
Post New Answer View All Answers
Cheque rs 1400 received from Charles in settlement of a debit of rs 1500 returned dishonored
How can you explain the basic accounting equation?
What is "deposit in transit"?
what is the difference between profit center area and business are.? please make me clear.
What are the differences between contrast bookkeeping and accounting
what is account reconcillation
what will be the possible question for an interview in account post as a fresher
Why some asset accounts have a credit balance?
what is a state cheque? how it differes from stale cheque?
What is the definition of manual accounting?
Hi I would like to know what is journal entry for buying securities with Margin Trading I mean 50% of cost is paid by broker. 2nd question is when we withdraw extra money from the balance we have in bank account which means our balance become (-) what is journal entry for that, should I just credit the bank or should I put the extra money with-drawled as a liability account ? Thank you in advance!
Mr. A purchased a machinery costing Rs. 1,00,000 on 1st October, 2005. Transportation and installation charges were incurred amounting Rs. 10,000 and Rs. 4,000 respectively. Dismantling charges of the old machine in place of which new machine was purchased amounted Rs. 10,000. Market value of the machine was estimated at Rs. 1,20,000 on 31st March 2006. While finalising the annual accounts, A values the machinery at Rs. 1,20,000 in his books. Which of the following concepts was violated by A? (a) Cost concept (b) Matching concept (c) Realisation concept (d) Periodicity concept.
what is tax deducted at source
Explain me how much mathematics knowledge is necessary or required in accounting?
as muthoot finance is a finance co,so what would be pattern of asking in relation to finance and a/c question?will it be basic or general or it would be market related situation?plz if help me anybody...
