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The items that a business owes are typically referred to as liabilities. These include debts such as loans, Accounts Payable (money owed to suppliers), and other financial obligations such as leases and accrued expenses. Liabilities can be classified as current (due within a year) or long-term (due beyond one year). Managing these obligations is crucial for maintaining the financial health and stability of the business.
What else can I help you with?
What term describes any supplier to whom the business owes money?
debtor
What term describes any company or person who owes money to the business?
The term that describes any company or person who owes money to a business is "debtor." Debtors may include individuals, businesses, or entities that have received goods, services, or money from the business but have not yet paid for them. In accounting, these amounts are typically recorded as accounts receivable on the company's balance sheet.
Distinguish between a debtor and a creditor?
a debtor is someone who owes you money and a creditor is someone who gives you credit for a service or supply of items
What types are items are tax exempt for a business?
Items that a business buys with the intention of reselling them are exempt from sales taxes. However, the business has to charge sales tax when it does resell that item.
What is tangible items that business sell?
goods
How can you find out if a business owes back taxes?
To find out if a business owes back taxes, you should contact the IRS. The business tax number to call is (800) 829-4933.
Is it public record what a business owes in back taxes?
No.
Increased participation in small business exporting owes credit to?
Increased participation in small business exporting owes a lot of credit to the Internet and technology. An example would be something like PayPal.
What term describes any supplier to whom the business owes money?
debtor
The accounts payable account in the general ledge is?
What the business owes another company (on credit)
The theory of business social responsibility that holds that a business owes duties solely to produce the highest return for its shareholders is?
It is called a "fiduciary" responsiblity.
What is a debtor ledger?
its a ledger which contains a personal account for every debtor who owes some money to a business
Any good sites for buying business items?
There are many websites for buying business items. You can usually find business items at websites such as officedepot.com or bestbuy.com. They carry good quality items such as computers, printers, copiers etc.
What best describes an asset anything of value owned by the business always equal to the liability listed of the right had side of a balance sheet something that a business owes?
Anything of value owned by the business.
What term describes any company or person who owes money to the business?
The term that describes any company or person who owes money to a business is "debtor." Debtors may include individuals, businesses, or entities that have received goods, services, or money from the business but have not yet paid for them. In accounting, these amounts are typically recorded as accounts receivable on the company's balance sheet.
What is a subsidiary debtor ledger?
its a ledger which contains a personal account for every debtor who owes some money to a business
Distinguish between a debtor and a creditor?
a debtor is someone who owes you money and a creditor is someone who gives you credit for a service or supply of items
