Accounting and Finance Questions

A savings vehicle is a bank account that's used to hold your savings.

The basic saving vehicles include :

Savings accounts,

Money market accounts,

Certificates of deposit, and

Stock market.

The fixed cost per unit decreases when volume increases is the correct statement regarding fixed costs.

Purchase return and allowances is a contra account to purchases.

Depreciation is a process of cost allocation, not valuation. In accounting, the term depreciation refers to the allocation of cost of a tangible asset to expense to the periods in which the asset is expected to be used to obtain the economic benefit.

In brief, Depreciation is fall in the value of assets due to wear and tear over a period of time, it is a loss.

The chart of accounts is designed to to meet the information needs of a company and other financial statement users.

Payroll Transaction is nothing but the calculation of salary for a month / week / day of an individual / group of employees depends upon the attendance / variable inputs / other benefits / salary component and generate the reports for IT / Statutory / PT payments.