What are the possible reasons for keeping incomplete records?

Every receipt and Payments, whether capital or revenue and irrespective of the period is recorded in receipts and payments accounts why? Give reason.

Salary or commission paid to a partner is debited to profit and loss appropriation account and not to profit and loss account. Why?

How does the factor's 'quality of product' affect the goodwill of a firm?

The amount of bills payable appearing in the balance sheet is understated by. Rs.10,000 State whether the revaluation account will be debited or credited to restore the amount of bills payable to its actual value. Also give reason for your answer.

For which share of goodwill, a partner is entitled at the time of his retirement?

What is prorata allotment?

Both horizontal and vertical analysis are complementary in nature. Do you agree?

The average age of inventory is viewed as the average length of time inventory is held by the firm or as the average number of day's sales in inventory. Explain.

Identify the value, violate by the employee of company? Who uses office computer for chatting on social networking sities?