Consignment: Parties: Consignor and consigneeOwnership of a goods: In consignment, there is no transfer of ownership in the goods from consignor ...
Consignment: Nature of Relationship: The relationship between the consignor and consignee is that of principal and agents.Ownership and Risk of ...
Straight Line Method : Amount of Depreciation: Equal amount of depreciation is charged every YearCalculation of depreciation: Depreciation is ...
The main methods of recording the Joint Venture Transactions are: Method one Separate Set of Book Under this method, separate, books are kept ...
Utility is the want satisfying power of a commodity. The satisfaction a consumer receives from consuming a product is called utility. Total utility refers to ...
Meaning of Incomplete Records (or Single Entry System). Incomplete accounting records are those accounting records which, at present, are not complete ...
Economic institutions cater to the survival needs of community, every society and community develops ways of coping with everyday situations of life. Social ...
Conversion of Receipts and Payment Account into Income and Expenditure Account. When it is desired to convert a receipts and payments account into an ...
The laws of returns to scale refer to the long run analysis of production. In the long run all the factors become variable. So output can be expanded by ...
The law of variable proportions examines the production function assuming one factors as variable and others as fixed. According to this law, if additional ...
The family is one of society most basic institutions. There is hardly any society Where family does not exist, family as an institution has been considered ...
Receipts and Payments Account: Nature of Account: It is a real account.Basic Structure: It is basically a summarized cash ...