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They are the people who credit others
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∙ 13y ago
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Why are goods likely to cost more at a store after it begins to extend credit?
Extending credit introduce the risk that the creditors may default and not pay their bills. A store would offset the potential risk by incressing prices.
Do creditors favor inflation?
no
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What are produce goods andconsumrr goods?
Consumer goods are market ready goods, producer goods are the input materials needed to manufacture consumer goods.
What is business climate?
A business that has stopped operating, with a loss to creditors.
What are the laws and requirements in new york state?
New York state repossession law state that creditors can repossess goods in default without going to court. If repossessing the goods is not feasible, the creditor can make the goods unusable instead. In addition, creditors do not have to give notice before repossessing secured goods. The only limitations creditors have on repossession are that they can't cause a disturbance, and they must proceed reasonably.
How do you do a turnover?
There are two ways to calculate Creditors Turnover. First is using the COGS (Cost of Goods Sold) as the basis. Creditors Turnover = COGS / Creditors (A/c Payables) . Second is the more common method which uses Sales as the basis. Creditors Turnover = Net Sales / Creditors (A/c Payables).
What is the definition of sundry debtors and sundry creditors?
The person to whom you have sold goods.(Consumer is the debtor.)
What are Trade Creditors?
Trade Debtors or Sundary debtors or accounts receivable is the person(s) to whom you sold goods on credit and agreed to receive payment in future.
How do you calculate creditor's turnover?
There are two ways to calculate Creditors Turnover. First is using the COGS (Cost of Goods Sold) as the basis. Creditors Turnover = COGS / Creditors (A/c Payables) . Second is the more common method which uses Sales as the basis. Creditors Turnover = Net Sales / Creditors (A/c Payables).
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
What is the difference between trade receivables and creditors?
Trade receivable is that amount which is receivable from customers to whom company sold goods on credit while credits are those from whom company purchased goods on credit.
How would you define money?
Money is any medium that is universally accepted in an economy by sellers of goods and services as payment and by creditors as payment for debts.
Can you repo a car in the state of Wisconsin?
Wisconsin Consumer Act (WCA) prohibited creditors from repossessing collateral or goods without first obtaining a court order, unless the consumer voluntarily surrendered or abandoned the goods.
Examples of creditors ledger and a creditors journal?
creditors journal
What are creditors in balance sheet?
Creditors in a balance sheet, are the companies, people etc... that you owe money to. They could be utilites, materials purchased, or anything that you have not yet paid for, but have received. This is the opposite of Debtors - people that owe you money.
Does an account payable ledger record credits or debits?
Accounts payable is created when goods purchased on credit so it records the credits that is how much amount payable to creditors.
