Back to Back LC (BTB): Definition, Terms & Condition, Difference between Master LC & Back to Back LC.
Topic Overview Back to Back letter of credit is opened against Export Letter of Credit This Letter of Credit consists …
What Is Payback Period? (With Advantages & Disadvantages)
What is Payback Period? Payback Period is the time where a project’s net cash inflows are equal to the project’s …
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What is Relevant Cost?
What includes on Relevant Costs? Relevant Cash flow includes: Incremental future costs Opportunity Costs Incremental working Capital costs Additional fixed …
Journal Entries For Sale of Fixed Assets
Assets eliminate from accounting records when it is sold. Asset disposal may require the recording of a gain or loss …
Accounting Entries for “Sales Return” and ” Purchase Return”
Sales Return Journal Sales may be returned by the customer due to defective quality, error, oversupply etc. In order to …
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What is Sales Day Book And Purchase Day Book?
Topic Overview Sales day book is the original entry book in respect of credit sales Purchase day book is the …
What is Depreciation? What are the Methods of Depreciation?
Topic Overview Depreciation is the allocation of fixed cost over its useful Depreciation rate can be changed due to rapid …
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What is Non-Performing Assets?
Content Overview Non-Performing assets are the loans or advances given by the bank to its client A loan will be …
Accounting Entries For Provident Fund
Topic Overview Provident Fund is the contributory investment fund where both employees and employer contributes Employee’s contribution is deducted from …
What is Personal Accounts, Nominal Accounts & Real Accounts.
General Concept Financial Statements are prepared at the year-end and numerous transactions recorded in various accounts throughout the period are …
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