Define refunding operation

Q: Explain receivables conversion period

A: It is the time interval connecting the sale of the last item using a credit card and cash receipts…

Q: Define the term Approval of payment requests?

A: The payment is an amount of money paid by the customer to the seller in exchange of goods and…

Q: narginal revenue produc

A: A bag of fertilizer has marginal revenue of product $ 100 and its current price is $ 150

Q: Describe how to report and analyze receivables.

A: Receivables are the assets for the company and may include trade receivables, other debtors or bills…

Q: reimbursement plan

A: Those Expenses will be reimbursed by Business to their Employees which are related to business. In…

Q: Explain promissory notes?

A: Promissory note refers to a signed written document that contains an unconditional promise to pay…

Q: Define stretching accounts payable

A: Accounts Payable are the money owed by the company, wherein this comprises short-term loans from…

Q: Revenue Realization and Matching principles

A: Option 1 is wrong because the statement is true. Revenue should be recognized when the process of…

Q: Define receivables and explain issues related to their recognition.

A: Accounting: Accounting is a system, or a process of collecting and organizing economic transactions,…

Q: Define Expense recognition.

A: Accounting is primarily concerned with identifying, recording, measuring, summarizing transactions…

Q: Define disbursement float

A: Disbursement float is a technique by which entity manages the cash as when a firm disburses the…

Q: Define receivables and understand issues related to their recognition.

A: Accounting: Accounting is a system, or a process of collecting and organizing economic transactions,…

Q: entory Expens

A: Current ratio is ratio of current assets to current laibilties.

Q: Identify and explain the techniques and methods to manage receivables.

A: Accounts receivable management is critical for any firm, as day-to-day operations rely heavily on…

Q: Explain payment (PMT)

A: Payment is the transfer of money, goods, or services in exchange for goods and services in…

Q: Define expense recognition principle

A: Expense recognition principle says that all expenses for the particular period must be recognized in…

Q: Define Deferred Payments.

A: Liabilities:   Liabilities are referred to as the obligation of the business towards the creditors…

Q: Define Debit

A: Accounting depends on double entry system. As per dual aspect principle of accounting, each and…

Q: State the meaning of Receipt and Payment Account.

A: Receipt and Payment Account: Receipt and payment Account is a summary of Cash book. Only…

Q: Define compensating balance (CB)

A: Compensating balance is a minimum amount a borrower has to maintain with the lender. This is very…

Q: Distinguish between substantive tests of transactions and tests ofdetails of balances. Give one…

A: Distinguish between substantive tests of transactions and tests of details of balances.

Q: Explain payment date

A: Whenever firms have the excess cash, either they can distribute it as dividend or can retain that…

Q: Distinguish between Income and Expenditure Account and Receiptand Payment Account.

A: Difference between income and expenditure account and receipt and payment account:

Q: Give differences between Revaluation account and Realisation account.

A: Revaluation account: The revaluation account is a nominal account opened to assess the values of the…

Q: Appropriation account

A: Appropriation accounts keep aside money/ profits for various specific purposes. For example dividend…

Q: Define Current Receivables.

A: Current receivables are recorded under current assets of the company.

Q: Explain payables deferral period (PDP)

A: Payable deferral period (PDP) is a period or number of days that firms take to pay their creditors…

Q: on remeasurement nvestment is

A: Given as, To find the gain on the investment as,

Q: Explain consignment arrangement with example.

A: Goods in transit: Goods in transit can be described as the inventories which are shipped by the…

Q: Explain the accounting issues for recording goodwill.

A: Definition:   Goodwill: In terms of accounting, goodwill may be defined as an intangible asset that…

Q: Define Accretion expense.

A: Accretion expense is incurred due to the effluxion of time which is calculated on the basis of…

Q: Define transactions balance

A: Definition: Working capital: The measure which evaluates the ability of a company to pay off the…

Q: Define a compensating balance

A: Definition: Compensating balance: A compensating balance is a minimum amount of cash that must be…

Q: onvention formula

A: A day-count convention is used to calculate the interest accrues on different investments such as…

Q: Define Advance payments.

A: Advance Payment : Advance Payment is a payment made before goods or services are provided. Advance…

Q: Give one example for refunds?

A: The meaning of a refund is an amount of money given back to an individual or organization. In a…

Q: Define Interest revenue.

A: Revenue: Revenue is earnings from the operations of a business. The operating activities are the…

Q: Define account receivable

A: The formula to compute accounts receivable turnover ratio as follows: Accounts receivable turnover…

Q: Define the term service revenue.

A: Revenues: Revenues are earnings from operations of a business. The operating activities are sale of…

Q: ll informtion of recievable analysis and example

A: Answer: Receivables are those assets that represents the money that the customers have to pay off to…

Q: appropriation account?

A: Appropriation represents the profit distribution of the company for shareholders and reserves.

Q: Define revenues

A:

Q: Describe the expense recognition principle (matching principle).

A: The expense recognition principle states that expenses should be recognized in the same period as…

Q: Define clearing (payment process)

A: Checks: Checks refer to the written document which is dated and signed which directs a bank to pay a…

Q: Define Securitization.

A: