Explanation

In a bank reconciliation, deposits in transit are added to the bank balance.

They represent amounts received and recorded by the company but not yet reflected in the bank's statement.

Explanation

The term "Management Accounting" was first used in 1950.

The concept of management accounting was introduced by James H. Bliss.

Explanation

Explanation

Explanation

Explanation

To find the opening stock, use the following formula:

Opening Stock = Cost of Goods Sold - (Purchases + Freight Inward - Closing Stock)

Given:

• Cost of Goods Sold = Rs. 245,000
• Purchases = Rs. 250,000
• Freight Inward = Rs. 5,000
• Closing Stock = Rs. 25,000

Opening Stock = Rs. 245,000 - (Rs. 250,000 + Rs. 5,000 - Rs. 25,000)

Opening Stock = Rs. 245,000 - Rs. 230,000 = Rs. 15,000

So, the amount of opening stock is Rs. 15,000.

Explanation

Increase in sales = Rs. 60000 - Rs. 40000 = Rs. 20000
PV Ratio = Increase in Profit / Increase in sales
= 5000 / 20000 = 0.25

Explanation

The term balance sheet refers to a financial statement that reports a company's assets, liabilities, and shareholder equity at a specific point in time.

Balance sheets provide the basis for computing rates of return for investors and evaluating a company's capital structure.

Explanation

Assets can be both long-term and short-term, as well as tangible (physical) or intangible (non-physical).

On the other hand, an expense: Is a cost related to the day-to-day running of a business

Explanation

Operating costs include necessary expenses like rent, utilities, payroll, and supplies.