0
Want this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
What are the differences between a business letter and a private letter?
The difference between a business letter and a private letter is the type of language used. In a business letter, more formal language is used, while in a private letter, the language is more relaxed.
Describe how accounting is the language of business?
Accounting helps people understand businesses based on the numbers associated with a business. Since the meanings of numbers are static, accounting is considered the language of business.
What is the role of accounts receivable in a business?
The role of accounts receivable in a business is to determine the amount of money owned to the business or company by debtors. This account is in the asset portion on a balance sheet.
What are the basic type of financial statmentsprepared by business enterprise?
Profit & loss account and balance sheet
What is the purpose of setting aims and objectives in business?
The reason you set aims and objectives in business is to give yourself and the other people you work with something to work towards. Without a destination, people will not stay focused.
What is destination sheet?
The destination sheet is the sheet that includes the cell or cells to which something is being pasted or moved. Sheets are identified by the tabs along the bottom of the workbook.
On the trial balance sheet AR is what?
AR related to accounts receivable in trial balance sheet of business.
How do you explain accounting as a language of business?
Accounting is often referred to as "the language of business."
What is a pro forma balance sheet?
Proforma balance sheet is a projected balance sheet to predict the future of business.
What is equity in balance sheet?
Equity in balance sheet is that account in which owner has invested money in business and business is liable to it's owner to return.
Where does cash go on balance sheet?
Cash is an asset of business and it is shown under current asset of business at asset side of balance sheet.
Where does cash go on a balance sheet?
Cash is an asset of business and it is shown under current asset of business at asset side of balance sheet.
Balance sheet of hypothetical business entity?
Prepare a Balance sheet for hypothetical company
Does balance sheet sHow is how much a business worth?
No, a balance sheet doesn't demonstrate how much a business is worth. The balance sheet only lists assets, liabilities and owners equity, but a business can be valued based on future potential for some investors.
Interest payable found on the balance sheet?
Interest payable is liability for business that's why shown under liability side of balance sheet of business.
Importance of balance sheet?
The balance sheet shows what the business has(assets) and what the business owes against those assets(liabilities). The difference between the assets and the liabilities shows the net worth of the business. The net worth of the business is important in that it is a measurement of the time the business is expected to stay in financial power. The balance sheet also provides the business with information on how best it is able to pay its debts. Underwriters also use the information in the balance sheet(working capital) to assess the business' ability to finance its operations. The balance sheet assists the managers of businesses in making decisions regarding purchasing of equipments for the business. Business managers depend on the balance sheet to analyze whether buying certain equipment on debt is the right move for the business at that time. Business managers need the balance sheet so as to decide the best source of credit for the business at that time. The balance sheet shows the accounting equation in a physical representation. The balance sheet also shows the owner's equity for example, it shows the value of the stock and the number of shares outstanding. The balance sheet is also used by the government agencies to make sure that the business is complying with the set laws. It also provides information to any potential lenders of the business on the credit worthiness of the business.
What is amalgamation of Balance sheet?
Amalgamation of balance sheet means to join together the balance sheets of two or more same size business or join the same size business as one business.
