Following table shows the price of oil from 2011-2018 in Baisa. Year Price Year Price

Q: Describe the basic assumptions of accounting.

A: Accounting is a systematic process of identifying, recording, measuring, classifying, verifying,…

Q: two characteristic

A: Accounting principles are standards, statutes and guidelines adopted by the management for the…

Q: Answer the following: Question One: State the accounting equation and define its components with…

A: Accounting refers to the process of recording, processing and eventual communication of financial…

Q: What is ABC system in accounting? Explain with example?

A:

Q: what is intermidiate accounting? explain further in your own words

A: Intermediate accounting is a level of accounting education and practice that falls between basic or…

Q: What are the popular accounting applications?

A:

Q: What is financial accounting's principal purpose?

A: The financial accounting main and principal purpose is to allow the third parties to assess the…

Q: Review the basic assumptions of accounting.

A: Financial accounting structure: A system that records, maintains, and creates reports for the…

Q: what are the common problems inc accounting?

A: Accounting issues can lead to significant financial statement errors, undetected fraud because of…

Q: What are the different objectives of accounting?

A: Accounting: An organization's financial transactions are recorded through accounting. Reporting…

Q: Examine the advantages and disadvantages of interpretative accounting theory

A: Introduction : Interpretive Accounting theory has developed and contributed significantly to our…

Q: Discuss the roles of accounting theory.

A: Accounting is defined as work carried out by the bookkeeper or an accountant in which the business…

Q: What exactly do you mean by the idea of materiality in accounting?

A: This question explains about the idea of materiality in accounting

Q: Differentiate the branches of accounting.

A: Introduction: Accounting: Accounting is an art of recording , classifying , summarizing and…

Q: Accountancy concepts should be explained.

A: Accounting fundamentals: Accounting principles refer to the conventions or standards that must be…

Q: What is the aim of accounting, to put it in the broadest possible terms?

A: Introduction: A business's financial events and transactions may be summarized and recorded in…

Q: Accounting and Accounting theory are deeply rooted in  general systems theory. Discuss

A: A framework of collecting and organizing a set of elements to achieve a common objective is known as…

Q: Why accounting is an infromation system? Explain with your own point of view with example.

A: Accounting Information Systems helps to perform the tasks in the job of Budget Analysis. An…

Q: What is the difference between a conceptual framework and accounting standards ?

A: Standards: These are defined as the measurement criteria or benchmarks that are established for…

Q: Hypothetically discuss Assumptions of Accounting.

A: The organization and operation of a business are defined by key accounting assumptions. They…