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A current account deficit refers to a situation whereby a country imports more than they export.
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Define inward clearing?
Inward clearing refers to the checks drawn by a bank client on their account in favor of other parties. The accounts of the check issuer is debited to the account and the payment is made to the bank.
Define wages control account?
Wages control account is an account used in a management or cost accounting system, to record both direct and indirect labour cost. Using the traditional T accounts, it obviously has two sides; debit and credit. Direct labour cost are creditted to the wages control account and has its corresponding entry in the work in progress control account(debitted). Indirect labour cost will also be creditted in the wages control account and the corresponding entry in the production overhead control account.
What is overdrawn account?
Bank Overdraft is a facility wherein a bank customer can withdraw more money than what is actually available in his/her account. Let us say I have an overdraft account with ICICI Bank and have only Rs. 5000 in my account, I can withdraw even 15000 or 20000 from my account. I will have to repay this money that I took from them in future or else they will charge me an interest. The bank will also set an Overdraft limit which will define how much money over and above my bank balance I can withdraw. An account where the customer has used his/her overdraft facility is called an overdrawn account
Can proforma invoice be used in annual accounts?
Yes, Proforma invoice can be used in Annual Accounts to define the preliminary invoices with a quotation for each financial account in all companies.
Define branch account?
Account which are opened in the books of head office and branches, related to branches are called branch accounts. The main objective of these accounts is to know the working ability and profit and loss of branches. They also includes the final accounts related to them, by which their financial condition is known.
Define current account?
Current account is defined as the sum of the balance of trade, net current transfers, and net income from abroad. The balance of trade is services and goods exports less imports.
Define current account and call account?
Current Account is an all-in-one transactional account for your day-to-day business banking needs. Call accounts are ideal for funds you may need in the near future, as they combine easy access to your funds with competitive interest rates.
Define current in relation to coulumbs and time?
Current is coulombs per second.
To define current why do you use the term net charge crossing a plane?
We use the term net charge to define current due to unbalanced charges that flow.
Define latching current in scr?
Latching Current is the minimum current needed on the gate to fire or trigger an SCR.
How would you define the type of atom to account for isotopes?
You dont
How would you define a current cost?
Current cost. Replacement cost or net realizable value.
Define Statement of Accounts?
The transactions history of a person's bank account.
Define fusing current?
The fusing current of a wire is the current that will cause the wire to overheat and melt, which will break the circuit, acting like a fuse.
What is the term current mean?
it define electrons flow measured in ampere.
Define Conventional current?
Current as a transfer of (+) charge so thats its direction of flow is opposite to that of electrons which are (-) charged
Define work by force account contract?
Force Account work is work performed under contract that is billed as time and material
