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No, not every business has to have audit. It applies as a mandatory requirement to some entities such as all companies (irrespective of...

A Schedule of Cost of Goods Manufactured is a financial statement that is used to summarize the costs that were incurred in production...

Fixed Cost refers to an expense incurred by a business that remains the same in case of an increase or decrease in the quantity of goods...

Cash App will not give a refund in case you sent money voluntarily, even to a scammer, because they are immediate. They will...

Taxpayer is a person or an entity (such as a company) that is bound by law to receive taxes (e.g., income tax or property tax) to a...

Before an employee receives their net pay, an employer deduces a certain amount of the employee gross pay as mandated by law such as...

The main book or book of accounts which contains all the financial transactions of a business in a systematic manner, is called a...

Equity is the interest that is left in an entity asset after the liabilities. In a business it is the invested sum of owners or...

The remaining value of the original cost of a depreciating asset less the Capital Cost Allowance (CCA) claimed has been deducted in...

Experience in manufacturing is practical work in a production environment, consisting of making, putting together, or reworking...

Basic accounting is defined as a process whereby financial transactions of a company are recorded, summarized and reported. It adheres...

The Texas tax audit extension is generally provided to taxpayers in a disaster region declared by FEMA to conduct a tax audit regarding...

Determine gross wages first. Subtract pre-tax deductions such as contributions to a 401(k). Then, using tax tables, filing status, and...

Since taxes are the main source of funding for the government, they are essential. Roads, schools, healthcare, and national defense are...

Property tax is a recurring local tax levied by municipal authorities on real estate you own, primarily land and buildings. The revenue...