Accounting Assignment

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This is a simple Question and answer

- Distinguish between the single step income statements versus the multiple step income statement

-Describe the difference between perpetual and periodic inventory.

-Share some examples of when a company might want to use lower of cost or market in valuing the inventory.

- What are the three different inventory cost flow assumptions commonly used in commerce and allowed by generally accepted accounting principles?

- How would you describe the key internal controls that should be in place to protect cash in a cash rich environment such as a merchandiser?

 

 

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  • 8 years ago
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