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What is a trust account used for?
When a bank or trust company holds money for a specific purpose this is called a trust account. A individual called a 'trustee' is accountable to administer the funds, in the manner legally described, to the beneficiaries.
What is the difference between a Debit and a Credit as it relates to Accounts Receivable?
Accounts Receivable is an account that holds what a person or company owes your business. For example you sold a computer to a customer on credit, this credit is listed in an Accounts Receivable and is an asset.Asset accounts maintain a Debit Balance, meaning that a debit to the account will increase the account (in other words increase the amount the customer owes the company).A credit to the account will decrease the balance of that account (in other words, it records payment or credit to that customers account and decreases the amount the customer owes the company).
How is ownership measured in a company?
Officially ownership is represented by who holds the equity of a company. Corporations have shareholders and they are the owners. Whomever holds more shares owns a greater portion of the company.
Is inventory a revenue account?
No, inventory is not a revenue account; it is classified as an asset on the balance sheet. Inventory represents the value of goods and materials a company holds for sale or production purposes. Revenue accounts, on the other hand, reflect the income generated from sales of goods or services. When inventory is sold, it then contributes to revenue, but until that point, it remains an asset.
What is a contra asset account?
A contra asset account is an account that reduces the value of a related asset account on a company's balance sheet. It typically holds a credit balance, which is opposite to the debit balance of standard asset accounts. Common examples include accumulated depreciation, which offsets the value of fixed assets, and allowance for doubtful accounts, which accounts for potential losses from uncollectible receivables. By using contra asset accounts, businesses can provide a more accurate representation of their financial position.
How can a person get a print out of their account balance?
You can get a print out of your account balance at the company that holds your account. Either you go to their website and log in or you go to their office.
What is a trust account used for?
When a bank or trust company holds money for a specific purpose this is called a trust account. A individual called a 'trustee' is accountable to administer the funds, in the manner legally described, to the beneficiaries.
Which Swiss bank holds indian black money?
HSBC Bank is one of the Swiss banks that holds indian black money.
What is the difference between a Debit and a Credit as it relates to Accounts Receivable?
Accounts Receivable is an account that holds what a person or company owes your business. For example you sold a computer to a customer on credit, this credit is listed in an Accounts Receivable and is an asset.Asset accounts maintain a Debit Balance, meaning that a debit to the account will increase the account (in other words increase the amount the customer owes the company).A credit to the account will decrease the balance of that account (in other words, it records payment or credit to that customers account and decreases the amount the customer owes the company).
Who signs a cheque?
The authorized signatory or signatories of the bank account. If it is a personal bank account this would normally be the owner of the account. For a company, it would be any authorised person, whose specimen signature the bank holds. Sometimes, cheques require more than 1 signature.
Is uninor company Pakistani company?
Uninor is an Indian mobile network operator based in Gurgaon, India. The company holds Unified Access Service(UAS) licences to offer mobile telephony services in each of India's 22 telecom circles, and has received spectrum to roll out services in 21 of these (excluding Delhi). The company is a joint venture between Telenor Group, a telecommunications company headquartered in Oslo, Norway, and Unitech Group, an Indian real estate company. Telenor owns a controlling majority stake in the company (67.25%), which has been branded Uninor in the Indian market.
Who holds the Indian record for high jump?
mahesh
What body holds the ultimate responsibility for federal Indian policy?
BIA, the Bureau of Indian Affairs.
How is ownership measured in a company?
Officially ownership is represented by who holds the equity of a company. Corporations have shareholders and they are the owners. Whomever holds more shares owns a greater portion of the company.
Who owns your money in a bank account you or the bank?
The person whose name is on the account owns the money. The bank holds it for them.
Is Viswanathan Anand a citizen of Spain?
No, Viswanathan Anand, although he has lived in Spain, holds an Indian passport and Indian citizenship.
Value of 2000 Indian lady 1.00 (one dollar) coin.?
The 2000 Indian one-dollar coin, also known as the "1 Dollar Coin" issued by the Reserve Bank of India, typically holds a nominal face value of one dollar. However, its actual market value can vary based on factors such as rarity, demand among collectors, and condition. Generally, such coins may be worth more than their face value to collectors, but they are not widely circulated, which can impact their value. For an accurate assessment, it's best to consult a numismatic expert or check recent auction prices.
