Briefly discuss five Non-chargeable items under CGT for individual

Q: Define the term Approval of payment requests?

A: The payment is an amount of money paid by the customer to the seller in exchange of goods and…

Q: Describe the five steps outline the T-account method.

A: Financial Accounting:   It refers to the process of recording the financial transactions of the…

Q: Which one of the following options is correct for a journal entry creating provision for warranty…

A: SOLUTION- THE COMPANY NEEDS TO MAKE PROVISION OF WARRANTY WHEN IT SELLS THE PRODUCT WITH THE…

Q: abbreviations

A: Ans. GIFMIS stands for Ghana Integrated Financial Management Information system. It is an integrated…

Q: what are vostro account and nostro account? What are the four types of cover reimburse  methods in…

A: What are Vostro Account and Nostro Account

Q: Allows purchases beyond credit limit. This is referred to

A: Credit purchase limit terms are used in credit card cases. If any user of a credit card makes a…

Q: erecognition of Provision PAS 37

A: Definition IAS 37 Provisions, Contingent Liabilities and Contingent Assets outlines the accounting…

Q: Explain an example how to record sales revenue.

A: Sales revenue is the revenue from the sales generated by the company. The sales may be either cash…

Q: Multiple Choice It is a liability account.

A: Answer : It is a liability account.

Q: Identify and describe the different billing schemes.

A: Billing schemes are those techniques in which fraudulent invoices are submitted for fictitious goods…

Q: 14-Which one of the following supplies are exempted supplies as per VAT? a. Sports b. Education c.…

A: VAT means Value Added tax which is being applicable on sale and purchase of goods and services. This…

Q: What is the difference between the APBO and the EPBO? What are the components of postretirement…

A: Difference between the APBO and the EPBO:Expected pension benefit obligation (EPBO): The amount of…

Q: List and define the seven report attributes.

A: The formal document used for providing information to the managers is called report. The information…

Q: Explain the basic features of Income and Expenditure Account and ofReceipt and Payment Account.

A: Explain the basic features of Income and Expenditure Account and of Receipt and Payment Account.

Q: Differentiate between source documents and vouchers.

A: A source document is generated routinely when the transaction takes place as a cash memo; invoice,…

Q: Which one of the following expenses is exempt from the payment of GST?

A: In gst interest service is exempt so not gst needs to be paid on payment of interest.Also in gst…

Q: Define account receivable

A: The formula to compute accounts receivable turnover ratio as follows: Accounts receivable turnover…

Q: Which of the following modes of disbursement is most similar to a check disbursement?

A: Disbursement in the basic terms refers to the payment of funds in exchange for the services taken by…