Explanation

When prices are rising, you prefer LIFO because it gives you the highest cost of goods sold and the lowest taxable income.

Explanation

Accounting Is The Process Of Identifying, Recording And Communicating Information.

Explanation

In terms of Rule 13 of the Public Procurement Rules 2004 the minimum response time shall not be less than fifteen (15) days for national competitive bidding and thirty (30) days for international competitive bedding.

Explanation

In terms of Rule 13 of the Public Procurement Rules 2004 the minimum response time shall not be less than fifteen (15) days for national competitive bidding and thirty (30) days for international competitive bedding.

Explanation

Bid Opening: Stage in project advertisement process where sealed bids, received by prospective bidders (Contractors) are opening and examined by the County. 

Explanation

Financial accounting is the process by which an organization's revenue, receivables and expenses are collected, measured, recorded and finally reported into a financial statement.

Explanation

Users of accounting information are internal and external.

External users are creditors, investors, government, trading partners, regulatory agencies, international standardization agencies, journalists and internal users are owners, directors, managers, employees of the company.

Explanation

Apportionment of cost refers to the distribution of various overhead items, in proportion, to the department on a logical basis. 

Explanation

Depreciation helps to tie the cost of an asset with the benefit of its use over time.

Explanation

Nominal capital is the aggregate par value of those shares that have been issued by a corporation.