Question
1 . Briefly explain and discuss the following: a . Incomplete record in accounting b . Causes of incomplete records c . Weaknesses of incomplete
Briefly explain and discuss the following:
a Incomplete record in accounting
b Causes of incomplete records
c Weaknesses of incomplete record
d Solving the problem of incomplete records using
iComparison Method
iiAnalysis Method
Briefly explain and discuss the following:
a The accounting differences between a manufacturing firm and a trading firm?
b The production cost concept i Fixed Cost and ii Variable Cost
c The costs in manufacturing activities are i Raw material cost ii Labour Cost, iii
Direct Expenses, and iv Overhead Cost.
d The format of the manufacturing account for i Raw Material Calculation ii Labour Cost Calculation iii Cost of finished goods
Briefly explain and discuss nonprofit organizations as follows:
a Ownership and management structure
b Fundraising, liability, and financial record keeping
c Capital and revenue items
d Income Expenditure Account
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Answer a An incomplete record in accounting refers to a situation where essential financial transactions are not fully recorded leading to gaps or missing information in the financial statements b Cau...Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started