Difference between Periodic and Perpetual Inventory System

Difference between Periodic and Perpetual Inventory System A periodic inventory system is an inventory system that records inventory levels at specific points in time. These points in time are usually at the end of accounting periods. Periodic systems use physical count audits, where employees actually count each and every item in the store to get an […]

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Difference between Capital And Revenue Expenditure

Difference between Capital And Revenue Expenditure Capital expenditure includes costs incurred on the acquisition of a fixed asset and any subsequent expenditure that increases the earning capacity of an existing fixed asset.The cost of acquisition not only includes the cost of purchases but also any additional costs incurred in bringing the fixed asset into its […]

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Difference between Accounts Payable and Notes Payable

Difference between Accounts Payable and Notes Payable   An accounts payable is a liability that is short term, usually between two weeks and one month, while notes payable is a liability that has a longer term, the shortest of which is six months.Accounts payable is based on good faith and requires no written agreement other […]

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Process Of Memory | General Psychology

Process Of Memory | General Psychology Memory is essentially the capacity for storing and retrieving information. Three processes are involved in memory: encoding, storage, and retrieval. All three of these processes determine whether something is remembered or forgotten. 1) Encoding Processing information into memory is called encoding. People automatically encode some types of information without being […]

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