Where and how are financial records and reports kept? Who is responsible for their storage? Is there a length of time that records should be kept? 

Q: Where and how are financial records kept? Who is responsible for their storage ? Is there a length…

A: Financial records are essential for any firm to understand the company's financial history,…

Q: What are the key components of a promissory note that need to be considered in accounting?

A: Promissory notes are  frequently used in fiscal deals  similar as loans, mortgages, and  marketable…

Q: Which of the following is related to Scientific system of maintaining accounts?

A: Double entry system is the scientific system of  maintaining accounts

Q: What tools do auditors use to verify the ending balances in the various accounts in the acquisition…

A: Auditors are professionals who are responsible for examining and evaluating the financial records…

Q: What are some of the internal controls that an accountant should put into place to determine if…

A: Accounts payable controls are designed to help mitigate loss risk in the accounts payable function.…

Q: Which of the following is considered an assurance engagement? Bookkeeping Preparation Compilation…

A: The question is based on the concept of Auditing.

Q: What Is Forensic Accounting?

A: Forensic Accounting i an integral part of Accounting.Its basically kind of Hindsighting in a legal…

Q: What is a personal statement of financial position?

A: Answer: A personal statement of financial position is nothing but a document that entails the…

Q: What types of physical controls are in place to protect company assets (assets include inventory,…

A: Physical control of assets means to physically control the management of assets of the business.

Q: How is Accounts Payable audited?

A: Accounts payable:   Accounts payable refers to the money payable by the company to outside entities…

Q: How to make a personal financial statement?

A: Personal Dinancial statement is a summary statement of individual financial position, it contains…

Q: ng information?

A: Concept: Information contains in the financial statements is said as free from bias. It reflects a…

Q: Determining the effect of a transaction on the accounts is a desired outcome of which step of the…

A: Journal entries :we need to record the journal entries fro the transactions and events happened…

Q: How do you know which account debits and credits go in?  How do you log into the general journal?…

A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…

Q: Why creditors control account may have debit balance

A: The creditor's control account displays the amount a firm has to give to the suppliers.