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What is meant by the term operating resources?
Operating resources are the resources required for a business entity to carry on its day to day work.
What is the use of solvency certificate?
A solvency certificate is a basically a representation as to the solvency of the entity which issues it.Although the solvency certificate has little use against the entity that issues it (either the entity is solvent or it is not - issuing a certificate which wrongly states the position will not change anything), a party relying upon a solvency certificate can sometimes protect themselves against third parties.For example, in many jurisdictions, if a company enters into an undervalue transaction whilst it is insolvent, the liquidator can subsequently apply to have the transaction set aside. However, if an individual demonstrated that they acted in good faith and did not know that the company was insolvent, the court may not be prepared to set the transaction aside. Showing that they relied upon a solvency certificate is a good way to demonstrate that they made proper inquiries and believed the company to be solvent.
Where do money orders go after they are cashed?
After a money order is cashed, it typically goes to the financial institution or cashing service that processed the transaction. The institution keeps a record of the transaction for accounting and fraud prevention purposes. The funds are then transferred from the issuer's account to the cashing entity, completing the payment process. Eventually, the money order itself is archived or destroyed, depending on the policies of the cashing entity.
Which groups use accounting information primarily to insure the entity is operating within prescribed rules?
Auditors use accounting information to ensure that a business is operating as it should. Many auditors working with the Securities Exchange Commission have the ability to fine companies that are not complying.
Who is required to sign personally on a business loan?
Normally, people who own 20% or more of the borrowing entity must sign personally on the business loan. This may vary depending upon the transaction type and the ownership structure.
Who is an individual consumer?
Is any person who participates in a financial transaction with another person or entity.
What is the definition of rate of change?
If an entiry is dependent on another entity in a certain way then the change in value of the dependent entity to an unit change in the value of the independent entity is the rate of change.
What is the definition for rate of change?
If an entiry is dependent on another entity in a certain way then the change in value of the dependent entity to an unit change in the value of the independent entity is the rate of change.
What is meant by the term operating resources?
Operating resources are the resources required for a business entity to carry on its day to day work.
Does revenue include accounts receivable?
Accounts Receivable is an asset since it is a resource controlled by the entity as a result of past transaction with the future economic benefit to flow to the entity.
What is an economic event or condition that directly changes an entity's financial condition or directly affects its results of operations?
A Business Transaction ;)
What is the meaning and origin of Share based payment?
SHARE-BASED PAYMENT is a transaction in which the entity receives or acquires goods or services either as consideration for its equity instruments or by incurring liabilities for amounts based on the price of the entity's shares or other equity instruments of the entity. The accounting requirements for the share-based payment depend on how the transaction will be settled, that is, by the issuance of (a) equity, (b) cash, or (c) equity or cash.
What is the difference between inter-company and intra-company?
Inter company transaction is between two or more related legal entities while intra company transaction is within the same legal entity.
What is the use of solvency certificate?
A solvency certificate is a basically a representation as to the solvency of the entity which issues it.Although the solvency certificate has little use against the entity that issues it (either the entity is solvent or it is not - issuing a certificate which wrongly states the position will not change anything), a party relying upon a solvency certificate can sometimes protect themselves against third parties.For example, in many jurisdictions, if a company enters into an undervalue transaction whilst it is insolvent, the liquidator can subsequently apply to have the transaction set aside. However, if an individual demonstrated that they acted in good faith and did not know that the company was insolvent, the court may not be prepared to set the transaction aside. Showing that they relied upon a solvency certificate is a good way to demonstrate that they made proper inquiries and believed the company to be solvent.
Objectives of cash flow statement?
Provide information about the operating ,investing and financing activity of an entity during a period
Do you need a credit repair license for a credit repair business?
It all depends on the state your legal entity is operating from.
Where do money orders go after they are cashed?
After a money order is cashed, it typically goes to the financial institution or cashing service that processed the transaction. The institution keeps a record of the transaction for accounting and fraud prevention purposes. The funds are then transferred from the issuer's account to the cashing entity, completing the payment process. Eventually, the money order itself is archived or destroyed, depending on the policies of the cashing entity.
