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Is debtors allowances an asset?
Debtors allowances, also known as allowances for doubtful accounts, are not classified as assets themselves. Instead, they are a contra asset account that reduces the total amount of accounts receivable on the balance sheet. This allowance accounts for the estimated amount of receivables that may not be collected, reflecting a more accurate value of the company's assets. Thus, while they relate to assets, they serve to adjust the net value of accounts receivable rather than being an asset in their own right.
Identify and state two generally accepted accounting principles that relate to adjusting the accounts?
The matching principle and the revenue recogntion principle.
Is fixtures real or nominal or personal account?
Fixtures are considered real accounts. They represent tangible assets that are fixed to a property, such as lighting, plumbing, and other installations that enhance the value of a building. Real accounts are used to track physical items and their value, distinguishing them from nominal accounts, which pertain to income and expenses, and personal accounts, which relate to individual entities or organizations.
State two generally accepted accounting principles that relate to adjusting the accounts?
I believe the answer is Revenue recognition Principle and Matching Principle. Can anyone confirm.
What is the different between trade and non trade account?
Trade accounts are directly linked to core business activity whereas non trade accounts are not. If you are a supermarket, a trade transaction would occur with a supplier, a non-trade transaction could relate to employee benefits.
Does accounts receivable go income statement?
Accounts receivables are on the balance sheet. They are an asset of the firm, that is they represent a future economic benefit. The income statement holds the revenues and expenses of the business.
How customer relate pricing to quality?
well, when the customer relate pricing to quality to get the price less than other competetors.
What does aged cts mean?
Aged CTS typically refers to "aged credit transfer service," which is a financial term related to the transfer of credit or funds that have been in the system for a certain period. In some contexts, it may also relate to aged accounts receivable or other financial instruments that have been outstanding for a specific duration. The aging of these accounts can affect interest, fees, and repayment terms. It’s important to clarify the context to fully understand its implications.
What are the good qualities OF SALESMEN?
Salesmen know how to identify and relate to the customer. It is all about trying to make the customer comfortable. A good quality of a salesman is that they know how to best appeal to what the customer wants or needs through understanding their body language.
Identify and state two generally accepted accounting principles that relate to adjusting the accounts?
The matching principle and the revenue recogntion principle.
What is the difference between customer service and sales?
the difference between customer service and sales is: in customer service you should be listening to your customer and be able to relate to anything they say or do, you should be able to help and understand the customer and know their needs. In sales your job is to be able to pitch anything to anyone whether they like or need it.
How do you relate your key competencies in associate in customer center?
customer centre deal the various customers and need to know how to make them happy. So first of all politeness, greetings and ask how can we help them.
What is the difference between sales and service?
the difference between customer service and sales is: in customer service you should be listening to your customer and be able to relate to anything they say or do, you should be able to help and understand the customer and know their needs. In sales your job is to be able to pitch anything to anyone whether they like or need it.
What is presentation step in sales?
In the presentation step, the sales representative should relate customer benefits for each product feature presented
Is fixtures real or nominal or personal account?
Fixtures are considered real accounts. They represent tangible assets that are fixed to a property, such as lighting, plumbing, and other installations that enhance the value of a building. Real accounts are used to track physical items and their value, distinguishing them from nominal accounts, which pertain to income and expenses, and personal accounts, which relate to individual entities or organizations.
State two generally accepted accounting principles that relate to adjusting the accounts?
I believe the answer is Revenue recognition Principle and Matching Principle. Can anyone confirm.
Do Hera and Demeter like each other?
Hera and Demeter are sisters, there are no accounts in myth that relate that they disliked each other, or liked each other.
