Question 6 In an operating lease the agreement would results in purchasing the asset by the lessee. The answer is True or False Question 7 A lessor's gross income in finance lease is calculated as the sum of the

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A: The acronym “COD” in terms of business refers to either Commercial Operation date or cash on…

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A: Consistency: Consistency principle emphasizes that companies should adhere to same accounting…

Q: Define LIFO conformity rule.

A: Last-in-First-Out (LIFO): In this method, items purchased recently are sold first. So, the value of…

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Q: Write short notes on: IP Security Email Security

A: The Answer :

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A: Introduction: Access security is a procedure that is implemented into the information technology…

Q: What is an ERP system?

A: Enterprise Resource Planning (ERP) System: Enterprise Resource Planning System refers to a…

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A: AIS stands for Accounting Information System. The process of keeping the accounts and financial…

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A: The Answer :

Q: What does PFMA stand for?

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A: Goodwill refers to the intangible asset which arises when buyer acquires the existing business.

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Q: Explanation 1031 like-kind exchange

A:

Q: What do the acronyms ACRS and MACRS stand for?

A: The accelerated cost recovery system was a government United States tax cut presented in 1981 and…

Q: Define the term CQS Plan?

A: Introduction: Usually, stock exchanges such as the New York Stock Exchange operate as a forum where…

Q: Consistency Principal Definition

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Q: Zhhshsdhhsdhhsjsjshsnsns

A: Key references: Dwivedi, Y. K., Kshetri, N., Hughes, L., Slade, E. L., Jeyaraj, A., Kar, A. K., ...…

Q: Summarize what are the MACRS guidelines?

A: The MACRS (Modified Accelerated Cost Recovery System) is the current tax depreciation system in the…

Q: Define Express Trust.

A: The express trust refers to the contract which is derived from the donor wishes or to settlor in the…

Q: Define Open outcry auction

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Q: Mutual agency is defined

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Leasing

Leasing is a contractual arrangement in which someone (a lessee) pays the owner (or lessor) of a building, land, vehicle, or other asset for the use of that asset. The lease is the agreement between lessee and lessor.