why assets are shown at their historical cost price but not at their current price bcoz we are following historical cost concept. but this will not reveal correct financial position of the business.give reason
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As per accounting standards, what is the meaning of "Short Term Liabilities and Long Term Liabilities:? As the Company can change the classification based on their business? Or these meanings are fixed?
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Is it possible to change the accounting period under Indian GAAP from 1/Apr-31March to 1/January-31/December? There is any restriction in doing that, i mean for example for fisal purposes? Thank you all!
Cash in hand-5000,Cash at bank-4000, Bill receivable- 3000,Bills payable-5000,Bank loan-6000.Calculate total liability of the firm?
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5 Answers Ambuja, Capital IQ, FIS,
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