Answer Posted / bhumi

When an accountrepresents a particular person or group of persons ,it is termed as a representation personal account.
For example ,if the salaries for the month of December r not paid to employees,the amount payable to these employees will be added and put under one common title -salaries outstanding account.this account represents the accounts of all the persons to whom salaries have to be paid . Therefore it is termed as representative personal account.

What are time sheets?

1134

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Can CPF share given by govt. added in the Financial gross salary while calculating Total gross salary at the end of Financial year.For eg: My gross salary is Rs.X during a Fin. year & govt share of CPF is Y then Total Fin. Year gross salary is =X+Y,is it correct?

2286

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how many invoice types are there in accounting and what is the satutary obligations for each invoices and waht are the basic differences in those invoices.

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What is an interest rate swap

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Explain in simple terms what is the difference between asset, equity, and liabilities?

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Tell us how can you define departmental accounting?

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1937

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What are source documents in accounting?

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Mobile on Rupees 2000 purchase for office use not for staff....What entry in accounts..?????

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Ledger Enteries

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is goods in transit will be liable for entry tax ?

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