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What term describes any supplier to whom the business owes money?
debtor
Distinguish between a debtor and a creditor?
a debtor is someone who owes you money and a creditor is someone who gives you credit for a service or supply of items
What types are items are tax exempt for a business?
Items that a business buys with the intention of reselling them are exempt from sales taxes. However, the business has to charge sales tax when it does resell that item.
What is tangible items that business sell?
goods
If you inherit your fathers small business when he dies and and you take over the business are you resposible for his credit card debt?
If the credit card is drawn against the business, that is if it is a business account, then yes. If the card is a personal card, then his estate is responsible for payment of any outstanding debt. Since the business is part of his estate, if in probate it is determined that the business owes the debt, then yes, you or rather the business is responsible.
How can you find out if a business owes back taxes?
To find out if a business owes back taxes, you should contact the IRS. The business tax number to call is (800) 829-4933.
Is it public record what a business owes in back taxes?
No.
Increased participation in small business exporting owes credit to?
Increased participation in small business exporting owes a lot of credit to the Internet and technology. An example would be something like PayPal.
What term describes any supplier to whom the business owes money?
debtor
The accounts payable account in the general ledge is?
What the business owes another company (on credit)
The theory of business social responsibility that holds that a business owes duties solely to produce the highest return for its shareholders is?
It is called a "fiduciary" responsiblity.
What is a debtor ledger?
its a ledger which contains a personal account for every debtor who owes some money to a business
Any good sites for buying business items?
There are many websites for buying business items. You can usually find business items at websites such as officedepot.com or bestbuy.com. They carry good quality items such as computers, printers, copiers etc.
What is the role of debit and credit?
increase items in business we use debit. decrease items in business we used credit
Distinguish between a debtor and a creditor?
a debtor is someone who owes you money and a creditor is someone who gives you credit for a service or supply of items
What best describes an asset anything of value owned by the business always equal to the liability listed of the right had side of a balance sheet something that a business owes?
Anything of value owned by the business.
What is a subsidiary debtor ledger?
its a ledger which contains a personal account for every debtor who owes some money to a business
