Basic Accounting Terms - Commerce and Management …
The last but not the least Basic Accounting Terms in my list is Balance sheet represents the financial position of the firm on the certain fixed date. Usually at the closing of the financial period. ... To active the objectives of business certain payments or obligation are expenses of business. The examples of such expenses are carriage ...
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Cost and Management Accounting-615A Multiple Choice …
www.commercepk.comCost accounting was developed because of the _____. A. limitations of the financial accounting. ... C. fixed assets concept of funds. D. long term funds. ANSWER: A 62. All those assets which are converted into cash in the normal course of business within one year are
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