0
Want this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
Is a trade debtors asset or liability?
yes It is an Asset, not a Liability.
What does debtors mean in the balance sheet?
Assets
What is creditors for good assets or liability?
Liability
What are the advantages of being a limited liability company?
A limited liability company, or LLC, is its own entity and can possess assets, property, and liability. This allows you shield your personal assets from the assets of the limited liability company.
Does a debit decrease liability?
Yes, a debit decrease liability and a credit increase liability. if a debtors/customer make the repayment obligation, it will decrease debtors, meaning decrease in liability.
Is a trade debtors asset or liability?
yes It is an Asset, not a Liability.
Are trade debtors tangible assets?
Trade debtors are persons or organizations who allows others to buy items or goods with credit and to receive payment for such goods at a later date, and tangible assets include both fixed assets and current assets. The items or goods are the assets, not the trade debtors.
What does debtors mean in the balance sheet?
Assets
What is meant by debtors?
Debtors are those customers who purchases goods from company on credit so debtors are current assets of business.
What is creditors for good assets or liability?
Liability
What are the advantages of being a limited liability company?
A limited liability company, or LLC, is its own entity and can possess assets, property, and liability. This allows you shield your personal assets from the assets of the limited liability company.
Does a debit decrease liability?
Yes, a debit decrease liability and a credit increase liability. if a debtors/customer make the repayment obligation, it will decrease debtors, meaning decrease in liability.
Why sundry debtors is coming under current assets?
Sundry debtors come in current assets because normally goods are sold on credit for short term agreement for one month or for three months as amount is receivable from debtors within one fiscal year that’s why debtors arrive in current assets.
What are the components of current assets?
The components of current assets are creditors, cash, debtors and stock.
What are the assets?
debtors,stock,bills receivable etc
What are Trade Creditors?
Trade Debtors or Sundary debtors or accounts receivable is the person(s) to whom you sold goods on credit and agreed to receive payment in future.
Are debtor an asset?
No, debtors are not assets; they are liabilities. Debtor refers to someone who owes money to another party. In accounting, debtors are recorded as accounts receivable, which is an asset. However, from the perspective of the debtor themselves, the amount they owe represents a liability, not an asset. Assets are resources owned by a person or company that have economic value and can be used to generate future benefits. Liabilities, on the other hand, represent obligations or debts owed by a person or company to others.
