What is settlement date in accounting?
What is Settlement Date Accounting? Settlement date accounting is an accounting method that accountants may use when recording financial exchange transact...
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Which mutual fund is best for 3 years?
India’s best performing mutual funds for Jul 2021 Name of Fund 1-Year Return 3-Year Return IDFC G-Sec Fund (G) 2.571% 11.108% SBI Magnum Gilt Fund (G) 3.2...
Can you self direct a Roth 401k?
While this is reason enough for many investors to be crazy about Roth-style accounts, the Self-Directed Roth 401(k) also allows you to make pre-tax contri...
What is revenue expenditure give an example?
A revenue expenditure is an amount that is expensed immediately thereby being matched with revenues of current accounting period. For e.g. carriage on sal...
Do I get a tax credit for paying off my car?
Can you write off your car payment on your taxes? Typically, no. If you use the actual expense method, you can write off expenses like insurance, gas, rep...
What accounts are affected by an adjusting entry?
Each adjusting entry usually affects one income statement account (a revenue or expense account) and one balance sheet account (an asset or liability acco...
What is the meaning of Average Room Rate?
ARR stands for: Average Room Rate. It is a hotel KPI which measures the average rate per available room – similarly to ADR. However, ARR can also be used ...
Which accounting concept applies when a work sheet is prepared at the end of each fiscal cycle to summarize the general ledger information needed to prepare financial statements P 214?
Accounting- Eval. #8 Question Answer Closing entry for owner’s drawing account. Credited. Which accounting concept applies when a worksheet is prepared at...
What does a favorable labor efficiency variance indicate?
A favorable labor efficiency variance indicates better productivity of direct labor during a period. Causes for favorable labor efficiency variance may in...
What happens to costs as output increases?
As the level of output increases, the difference between the value of average total cost and average variable cost… 1. decreases because average fixed cos...
