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Illustrate Sales returns.
Credit -- an accounting entry on the bottom or right of a balance sheet. Generally an increase inliabilities or capital or a reduction in assets. Opposite of credit is debit. Every
Q. Show types of activities performed by business organizations? The forms of business unit examined in the previous section are classified according to the type of ownership o
Profitability refers to a company's ability to obtain profits and positive cash flows and to its ability to obtain an adequate return on invested capital or a company's ability to
Q. Define about Assets and Liabilities? Assets are feasible future economic benefits obtained or controlled by a particular entity as a result of past events or transactions.
Q. What is Intangible Assets? Intangible assets consist of the nonmonetary, noncurrent, nonphysical assets of a business. Companies should charge the costs of intangible assets
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accounts show the amount of money owed to the firm by customers. A. Supply B. Prepaid C. Receivables D. Payables
Consumers and others: Consumers' organizations, welfare organizations, media and public at huge are also interested in condensed accounting information so as to appraise the effic
An accounting ledger that reveals the transaction history and amounts owed independently for each supplier from whom the business gets credit for purchases. The balance in the cust
Q. Define Auditing? Auditing A business in quest of a loan or attempting to have its securities traded on a stock exchange typically must provide financial statements to suppor
A sales return or return inwards arises when goods previously sold by a business are returned by a customer. The return of the item reduces the income of the business in receipt of the returned goods. Alternatively, they experience an increase in an asset as their stock has increased. The business returning the goods experiences a decrease in asset and there is a decrease in liability to the business selling the goods.
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