The wages are given to the people who are involved in manufacturing activities, technical, manual and physical activities. The salaries are given to the people who are involved in administrative work like office jobs, etc.
Member of Legislative Assembly (MLA) is only responsible for a single constituency and is elected by the people. Member of Parliament (MP) is usually responsible for 7 to 9 constituencies in the district.
Employee Training Programmes are mainly designed for technical employees in the organization. Employee Development programs mainly designed for higher level executives………..
Goggles give complete protection to eyes from the dust, water, snow, debris, etc. Sunglasses are mainly designed to protect the eyes from sunlight and UV rays present in the sunlight.
The depreciation amount provided on the asset using Straight Line Method is constant every year. Under Diminishing Balance Method, the profits earned on the asset during the earlier is less when compared to later years.
The Provisions refers to the money which is set aside for a known liability or expense. The Reserves refers to the money which is kept aside for future needs of the company.
Warranty is given only to the products offered for sale by the seller. The guarantee is given on both products and services offered by the seller. the difference between warranty and guarantee is…
Sometimes the accountant forgets to record the transactions which are called as Errors of Omission. Errors of Commission occurs when the accountants commit errors in recording the transactions by posting one transaction in the other account.
Advertising is a long-term strategy used by the organization to increase the brand reputation of the company. Publicity is a short-term strategy for achieving the very short or immediate goals.
In Journal, transactions are recorded in a sequential order and is a book of daily records. In ledger, all the transactions relating to the similar transactions are recorded at one place.