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When a debtor lends money to someone else, he becomes a creditor.
noura.
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∙ 11y ago
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What is the difference between sundry suppliers and creditors?
supplier means who is provided for the material and other goods,human related services to the organization he is a supplier. creditor means who is money related services provided to the organization. he is a creditors
Who is a connected stakeholder?
Connected stakeholders are closely related to business core marketing, economic functions. e.g. customers, Creditors, distributors, suppliers
What is the difference between trade creditors and trade debtors?
Trade creditors are suppliers who Êare allow by a Êbusiness to acquire products , and receive the payment for those products on a later date. On the other hand, trade debtors are Êpeople or organisations or are allowed to buy products from a business and make payment on a later date
What are some examples of liabilities?
a bank overdraft;a loan (short or long term);a mortgageany money you owe to your suppliers (creditors), (eg; an unpaid bill)in company law, "liability" can be "limited" or "unlimited"
Why a business need creditors?
Why a business have creditors
What is external reporting?
stockholders creditors suppliers and employees
What is financial report?
stockholders creditors suppliers and employees
What is external financial reporting?
stockholders creditors suppliers and employees
What is Creditors Collection Period?
The creditors' payment period is an activity ratio. It measures the average amount of days the business takes to pay its creditors i.e. suppliers. The more days available to pay the better.
What is the Difference between account payable and sundry creditors?
Accounts payable are usually the suppliers to a company who are providing credit terms on purchases. Sundry creditors are any other creditors which dont fall into the usual categories on the balance sheet.
A firm's accounts payable ledger may include accounts for creditors who are not suppliers of merchandise True or False?
fales
Importance of accounting information to government?
shareholders,creditors,suppliers,managers,investors,public and customers need accounting information for?
What is the difference between sundry suppliers and creditors?
supplier means who is provided for the material and other goods,human related services to the organization he is a supplier. creditor means who is money related services provided to the organization. he is a creditors
Why does accounting exist?
Accounting exists to report financial numbers of a business to external users like creditors, shareholders, and suppliers.
What is a market stakeholder?
Market stakeholders are those that engage in economic transactions with the business. (For example stockholders, customers, suppliers, creditors, and employees)
What are market stakeholders?
Market stakeholders are those that engage in economic transactions with the business. (For example stockholders, customers, suppliers, creditors, and employees)
Who are the primary stakeholders in a public company?
Primary stakeholders of a public company would include stock holders, investors, owners, creditors, suppliers and others whom have something to lose in the company. Primary stakeholders of a public company would include stock holders, investors, owners, creditors, suppliers and others whom have something to lose in the company.
