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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.
Who owes china money?
America
What is the term for the amount of money that the buisness owes to others?
The term for the amount of money that a business owes to others is "liabilities." Liabilities represent the obligations that a company must fulfill, including loans, accounts payable, and other debts. They are recorded on the balance sheet and are essential for understanding a company's financial health.
What do you call someone who owes you money?
borrower
If money intended for you is paid into the wrong bank account what can you do about it?
If someone owes you money but they accidentally paid someone else, then that person still owes you that money. You shouldn't have to do anything about it, since it was not your mistake. The person who made this incorrect payment is free to either ask the person or business entity whom he mistakenly paid to return the money to him, or he can see if the bank would be willing to reverse the transaction.
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.
Which term describes the amount of money the nation owes?
Debt
Mean of liability and ten examples?
a liability is what the business owes e.g. loans, bank overdraft, owing a supplier for inventory
What does it mean when you have a negative supplier balance?
A negative supplier balance indicates that a company has overpaid its supplier or has a credit balance with them, meaning the supplier owes the company money. This can occur due to returns, discounts, or prepayments for goods or services not yet received. It is important for the company to review its transactions to ensure accuracy and to communicate with the supplier regarding the balance. If unresolved, it can impact cash flow and supplier relations.
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 is a debtor ledger?
its a ledger which contains a personal account for every debtor who owes some money to a business
Do debtors and accounts receivable mean the same thing?
No. A debtor is someone who owes money, and the debt is the money he owes. An account receivable is an amount of money due to a business arising in the course of the business. Accounts receivable are debts and the people who are bound to pay them are debtors. However, debts can arise in circumstances that have nothing to do with the operation of a business. In such a case, the term "account receivable" which is only applicable to business accounting does not apply. The money owed is a personal debt.
What is a subsidiary debtor ledger?
its a ledger which contains a personal account for every debtor who owes some money to a business
Person who owes money?
A person who owes money is a debtor. To owe money means that you must pay someone else.
Can you sue a bankrupt who owes rent?
Yes, you can sue anyone who owes you money
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.
The tooth fairy owes you money how do you get it back?
Since the tooth fairy owes you money talk to you mom and dad about it and ask why that is.
