According to the Negotiable Instrument Act of 1881, a “negotiable instrument” means a promissory note, bill of exchange or cheque payable to the bearer. In other words, a bill of exchange is of the negotiable instrument; the amount mentioned on it must be paid to the bearer of the instrument or the order of the […]
According to the American Accounting Association, accounting is the procedure of identifying, measuring, and communicating economic information to permit informed judgments and decisions by users for information. It is a process that begins with the identification of transactions and ends with the preparation of financial statements. Manufacturing is the planning and processing of raw material
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Basic Concepts of Accounting, SSC