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Bookkeeping

Recording Business Transactions: The account and rules of debit and credit Saylor Academy

This similarity extends to other retailers, from clothing stores to sporting goods to hardware. No matter the size of a company and no matter the product https://www.bookstime.com/ a company sells, the fundamental accounting entries remain the same. It is not taken from previous examples but is intended to stand alone. In general terms, it is […]

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What is the difference between an implicit cost and an explicit cost?

We will see in the following modules that revenue is a function of the demand for the firm’s products. All these have monetary cost and the transactions will be recorded. The adjective explicit describes something that has been expressed directly. For example, saying We gave them explicit instructions means that the instructions were stated in

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