Definition: Expenses are the cost of carrying on business operations to generate economic benefits. Explanation An expense is an outflow necessary to carry on business
Current Assets include: Non – Current Assets include; Tangible assets: Intangible assets:
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Accounting heads are the fundamental principles of accounting to identify the debits and credits of a transaction. Accounting heads segregate the monetary transactions of a
Depreciation is known as a reduction in the value of Tangible/ Intangible non-current assets over their useful life. It is calculated to keep non-current assets
Assets= Liabilities + Capital
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