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types of liabilities also used in accounting matter in business level accounting. when use this liabilities at money goes outside also get some types of loss but not actual loss of the company's accounting departmental also.
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Define the three components of the accounting equation?
The accounting equation is as follows: ASSETS = LIABILITIES + EQUITY
Define the term unlimited liability?
The term unlimited liability means that you are not protected from the liabilities of your company. To avoid this situation, you can start a corporation.
How would you define balance sheet?
A balance sheet is a statement of the financial posting of a business which states the assets, liabilities and owners' equity at particular point in time
Define debit and credit in accounting?
For P&L items Debit is what has gone and Credit is what is come. and for B/S items majorly Debits are our assets and Credits are our liabilities.
How can you define Journal Entry?
They are similar to short-term interest-bearing notes payable except that the term of the notes exceeds one year. a long term note is often secured by a mortgage that pledges title to specific assets... Yes they probably will. The only difference between them is that current liabilities are due within one year and non-current liabilities are due in more than one year. So unless a non-current on...Current liabilities are liabilities that the company will pay off in a short period of time, usually a year or less, such as accounts payable. Long term liabilities are liabilities that the company..
Define financial system?
Financial system is the processes and procedures used by a firm's management to exercise financial control and accountability. These measures include ecording, verification and timely reporting of transactions that affect revenues, expenditures, assets and liabilities.
Define the term unlimited company?
the company where in the liabilities of shareholders are unlimited means that in case heavy losses, the personal property of shareholders will also be sold for paying of the Debt's of the company if the assets are insufficient such companies are not found in the wold. the company where in the liabilities of shareholders are unlimited means that in case heavy losses, the personal property of shareholders will also be sold for paying of the Debt's of the company if the assets are insufficient such companies are not found in the wold.
What does the word define mean in spanish?
definir - to define defino - I define defines - you (singular, informal) define define - you (singular, formal) define, he/she defines definimos - we define defineis - you (plural, informal) define definen - you (plural, formal)/ they define.
What are the two situations that define bankruptcy?
To somewhat oversimplify: 1) You do not have the money to meet your financial obligations. 2) Your total assets are less than your total liabilities. 3) You have no immediate hope of being able to rectify that situation. And as I said, that is a bit of an oversimplification. Oh, and I guess that's three situations, isn't it?
What 6 things do protocol define?
Define processes on either end of communication. Define the types of messages. Define the syntax of messages. Define the meaning of any informational fields. Define how the messages are sent and the expected response. Define interaction with the next lower layer.
Define social construct?
define social constuction define social constuction
How do you define customer service?
define what customer service define what customer service
