Question

Voyage accounting is used to find financial results from the business of marine ship” Define the term incomplete voyage? What is the accounting procedure used for it?​

Answer 1

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Answer 2

The definition and uses of the incomplete voyage are given below.

Definition and uses of Incomplete Voyage:

Definition -

• The cruise may still be underway even after the maritime company's fiscal year has ended.
• This trip is known as an Incomplete Voyage.

Uses -

• The matching idea is used to account for incomplete voyages.
• It indicates a comparison between the current year's expenses and revenues.

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