Why must an economys income be equal to its expenditure? An economy's income must be equal to it's expenditure because every transaction has a buyer and a seller It is also because every dollar of spending by some buyer is a dollar of income for some
Is fire extinguisher an asset or expense? - Answers A fire extinguisher is typically classified as an asset on a company's balance sheet because it provides a future economic benefit by protecting against potential fire hazards Assets are
What are establishment expenses? - Answers All expenditure related head of accounts are debit balance accounts Some of the examples are cost of purchases, establishment charges, administrative expenses etc ,
What is difference between accruals and VOWD? - Answers My understanding is Accrual = (VOWD - Actual expenditure)What are accruals and prepayments? Accruals: Accruals are those items the benefits of which has already taken by company but the payments
What are examples of fixed and variable cost in Home Depot? Many of the fixed costs result from expenses such as spending or consuming; disbursement, expenditure that are important to business accounting as the expenses are deductible against taxable income
Difference between current account and call deposit account? You can withdraw cash at your call deposit account at any time if you have a call deposit account The current account has the sum of the income of the goods and service less the expenditure