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What are the Differences between hire purchase system and credit sale?
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∙ 12y ago
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∙ 12y ago
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What is credit liabilities?
A liability is something you "owe" another person or company. A credit liability "usually" refers to a credit you owe, for example, an account payable may be classified as a "credit liability". Let's say your company purchased a computer system on credit, the balance you owe for the purchase is your "credit liability."This is a distinction between other liabilities the company owes, such as Salaries Payable, Income Taxes Payable, etc, as these "payable accounts" are generally not of the "credit line", just a debt owed. Credit Liability is generally something the company owes by way of "credit", this does not include other operating expenses.
What you mean by account?
Account means a single entry in double entry system such as i purchase some thing for business i recorded for example Land debit and money credit these debit and credit are called accounts in accounting
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Difference between purchase day book and sales day book?
The purchase day book is the book of original entry in respect of credit purchase, including both invoices and credit notes. This is the book where credit purchase transactions are recorded. Like Sales day book, purchase day book also maintain in a manual accounting system.
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Differences between the bookkeeping system of the informal sector and the formal sector?
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In order to accept credit cards you need to have a credit card system built in. You have to purchase the proper equipment and sign up for service.
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Solaris is a Unix system.
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