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Consignor is the person who is the holder of the goods and who distribute the goods to the consignee.
Consignee is the person who takes the goods and he just possesses the goods and not the holder.
WHAT IS ACCOUNTING
Q. General accepted accounting principles? In general accepted accounting principles (GAAP) set forth standards or methods for presenting financial accounting information. A
What are the issues related with Accounts receivable? Ans) As the Accounts Receivable, you will: ? Oversee and determine all issues related to cash application to make sure
Which of the following about debits and credits is false? A. Credits increase revenues, gains and bonds payable B. Debits increase salaries expense and prepaid expenses (prepayment
difference between credit and debit
Q. What is classified balance sheet? The balance sheets we presented thus far have been unclassified balance sheets. An unclassified balance sheet has three major categories li
Q. What is Accounts Receivable account? Envisage a company with an Accounts Receivable account and an Accounts Payable account in its general ledger as well as no Accounts Rece
Personal Account is an account for use by an individual for their own requirements. It is a relative term to distinguish the said accounts from those accounts for corporate or busi
How vital does Accounts receivable for small business and why? Ans) Accounts Receivables help small businesses by giving short-term liquidity. Also continued sales on cre
Q. Explain about cash discount? In a few industries credit terms include a cash discount of 1 percent to 3 percent to induce untimely payment of an amount due. A cash discount
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