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Meghna Thapar 5 years, 3 months ago
There are several different types of charts and graphs. The four most common are probably line graphs, bar graphs and histograms, pie charts, and Cartesian graphs. They are generally used for and are best for, quite different things. Bar graphs to show numbers that are independent of each other. In discrete mathematics, a graph is a collection of points, called vertices, and lines between those points called edges. There are many different types of graphs, such as connected and disconnected graphs, bipartite graphs, weighted graphs, directed and undirected graphs, and simple graphs.
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Meghna Thapar 5 years, 3 months ago
A life insurance policy has a face value and a cash value, and they are two different numbers. The face value is the death benefit. This is the dollar amount that the policy owner's beneficiaries will receive upon the death of the insured. When a Social Security-insured worker dies, the surviving spouse who was living with the deceased is entitled to a one-time lump-sum death benefit of $255. If they were living apart, the surviving spouse can still receive the lump sum under certain conditions.
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Meghna Thapar 5 years, 3 months ago
Readymade Software: These Software’s are ready to use, easy to handle or easy to operate. These software’s save time and cost. The best example of accounting software is “Tally”.
Advantages of Readymade Software’s:
i. Suitable for small business firms.
ii. Easily available.
iii. Affordable (less expensive)
User friendly (No special training required)
Limitations of Readymade Software’s:
i. Knowledge of computer is required (as well knowledge of accounting is also required)
ii. Costly and installation problems.
iii. Not safe.
Customised Software: Readymade software’s are modified as per the requirement. It is known as customised Software’s. The cost of customised software is higher than the readymade software cost and this cost is paid by the user.
Advantages of Customised Software’s:
i. Suitable for large and medium houses.
ii. All transactions are recorded in a systematic manner.
iii. Software is customised according to the requirement.
iv. Reliable.
Limitations of Customised Software’s:
i. Special training is required to handle these types of software’s.
ii. Costly
iii. Outdated Software’s may cause problems.
Posted by Abdul Majid 5 years, 3 months ago
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Gaurav Seth 5 years, 3 months ago
(i) maintaining systematic records :- Accounting records the financial transaction in the Systematic manner.
(ii) Communication the financial result :- Accounting is used to communicate financial information like net profit.
(iii) Meeting legal needs :- Accounting helps for meeting legal needs for various legal purposes like annual accounts, income tax return, sales tax return
(iv) protecting business assets :- Accounting maintains proper rewards various assets and helps to management to protects business assets by providing relevant information.
(v) Accounting assists the management in decision making :- Accounting assists the management in decision making planning, controlling and coordination of business Activities.
(vi) Ascertaining the business profit and losses :- Accounting helps in determining the coredt net profit and loss of enterprises.
(vii) Ascertaining the financial position :- Accounting helps in determining the financial position of an enterprises with helps of balance sheets.
Posted by Abdul Majid 5 years, 3 months ago
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Gaurav Seth 5 years, 3 months ago
Financial statements are those statements which are prepared for reporting to decision-maker on the basis of trial balance containing balances of ledger accounts. These are prepared to throw light on the financial results of operation of business during the period under consideration and the financial position at the end of the period.
In financial accounting through financial statement profit is measured in two stages, i.e. Gross profit and Net profit.
To ascertain the gross profit, trading account is prepared and to ascertain the net profit, P&L account is prepared. To report on financial position of business enterprise, its assets, liabilities and owner equity balance sheet is prepared. Financial statements are the statements, which present periodic reports on the process of business enterprises and the results achieved during a given period.
Financial statements include Trading and Profit and Loss account, balance sheet and other statements and explanatory notes, which form part thereof. Information provided by financial statements is useful to management to plan and control the business operations. Financial statements are also useful to creditors, shareholders and employees of the enterprise.
Information Provided by Financial Statements
Trading and Profit and Loss account present a true and fair view of the financial performance of the business in the form of profit or loss during the year.
Balance sheet presents a true and fair view of the financial position of the business.
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Yogita Ingle 5 years, 3 months ago
King Tut’s demise was a big event, even by royal standards because he was the last of his family’s line, and his funeral was the death knell for the dynasty.
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Yogita Ingle 5 years, 3 months ago
Liquids like wine and olive oil transported in containers were called ‘Amphorae’.
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Gaurav Seth 5 years, 3 months ago
At times it might be necessary to return a few goods back to a supplier when an order is received. This situation may arise due to the poor quality of products, inaccurate quantity, untimely delivery or other such reasons.
Purchase returns are also called returns outward and an appropriate purchase returns or returns outward book is maintained for recording entries related to such books. All returns are primarily recorded in the purchase returns book unless the returns are not that frequent, in which case they are recorded in the journal. The journal entry to be passed in the case of purchase returns is
Creditor A/c – Dr. XX
To Purchase return A/c XX
| In the given query the entry will be: Pankaj A/c – Dr. 12,000 To Purchase return A/c 12,000 |
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Gaurav Seth 5 years, 3 months ago
The centre of gravity of a body is that point where the total gravitational torque on the body is zero. The centre of gravity of the body coincides with the centre of mass in uniform gravity or gravity-free space. If g varies from part to part of the body, then the centre of gravity and centre of mass will not coincide.
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Tec Om 5 years, 3 months ago
2Thank You