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1.To get payment in the name of the business Firm.
2.Required by the sales Tax department when we apply for TIN NO.
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∙ 11y ago
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Is 1.26 current ratio good?
It depends on the nature of business as well as the capital intensity of the business if business is capital intensive the high current ratio required otherwise it is not required to maintain high current ratio
What are the benefits of business current account?
A business current account has several benefits including allowing the business to move money in and out of the account in real time. It allows the company to pay for things it buys and also to pay in income from things it sells.
Why do business people prefer a current account?
for regular transctions
Why do business people prefer the Current Account?
as there are no transaction limits, deposit limits as compared to savings account
Unearned revenue account is classified as a?
Unearned revenue account is classified as current liability as it is the revenue not yet earned by business.
What kind of information is usually required to open a business checking account?
Your social security number and tax ID are required to open a business checking account.
Is 1.26 current ratio good?
It depends on the nature of business as well as the capital intensity of the business if business is capital intensive the high current ratio required otherwise it is not required to maintain high current ratio
What are the benefits of business current account?
A business current account has several benefits including allowing the business to move money in and out of the account in real time. It allows the company to pay for things it buys and also to pay in income from things it sells.
How to arrive at core current asset?
it is minimum current assets required for business.
Is the interest on current account higher than that of the saving account?
Of course not,current account does not have any interest,due to the withdrawal of the money for business at any time.
Why do business people prefer a current account?
for regular transctions
Why do business people prefer the Current Account?
as there are no transaction limits, deposit limits as compared to savings account
Unearned revenue account is classified as a?
Unearned revenue account is classified as current liability as it is the revenue not yet earned by business.
How do you do export and import business from India?
You have to have a company in India which should have a reg. office. This will make you eligible for applying for IMPORT/EXPORT license. A current bank account is also required along with company details.
How long does it take for a check to deposit into a Wells Fargo account?
When one makes a deposit into a Wells Fargo account before the cut-off time on the current business day, the amount will be credited to the account on that same business day. If it was deposited after the cut-off, or on a non-business day, the amount will not be credited to the account until the next business day.
How do you write a resolution letter to open a business account?
because the account is owned by a separate legal entity. A resolution is required to indicate who can sign on its behalf
How long does it take for a refund to show up in a current account?
usually in about 2-3 business days!
