Documentary evidence, in a specific format used to record the details of a transaction is known as Voucher. Voucher is documentary evidence in a specific format that records the details of a transaction. It is accompanied by the evidence of transaction.
Cost incurred for the maintenance of shop is considered as
Double entry accounting system includes both cash and accrual accounting. Double entry, a fundamental concept underlying present-day bookkeeping and accounting, states that every financial transaction has equal and opposite effects in at least two different accounts.
Which of the following financial statements show the financial health of an organisation at a stated point of time?
Balance sheet financial statements show the financial health of an organisation at a stated point of time. A balance sheet is a financial statement that reports a company's assets, liabilities and shareholders' equity at a specific point in time, and provides a basis for computing rates of return and evaluating its capital structure.
The estimated value at which an asset is expected to be sold after the end of its useful life is called