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What are the components or materials used by Accounts receivable departments?
Ans) Accounts Receivable department is very vital department of the company. The responsibilities of the department is approval of credit limit to the customer study the past history of customer credit transfer invoices to the customer updation of the customer credit data factoring contacts with the factoring agents follow up of customers motivating the customers to give the dues intime and communicating the information to the management. Credit sales data estimation of credit sales for the future period recommened for for funds to finance department whenever they needed follow up of customers receivables management.
budgeting?
Q. Show Transactions affecting the income statement? To continue to exist a business must be profitable. This signifies that the revenues earned by providing goods and services
What is the typical time span for long-range plans? A. More than 1 year C. 3-5 years B. 2-3 years D. About 25 years
Q. Explain about trade discount? A trade discount is a percentage deduction or else discount from the specified list price or catalogue price of merchandise. Companies utilize
A calculate of the wealth is earned by nations by economic activates all around the world. Gross National Income involves the total value of goods and services produced within a
Why to and by using in journal, trading a/c, p&l a/c and ledger?
Explain about the RECORDING PURCHASES Source document for recording a purchase of merchandise is purchase invoice. o An instance of a transaction of purchasing merchandise
Q. What is Accounts receivable? Accounts receivable as well called trade accounts receivable are amounts owed to a business by customers. An account receivable occurs when a co
Q. Economic substance of the transaction? In a few business transactions the economic substance of the transaction conflicts with its legal form. For instance a contract that i
“Ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account.” Elaborate and explain why journal is necessary.
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