explain two functions of the credit uniom

Q: Define letter of credit.

A: Credit refers to the concept, is defined as the financial agreement where the borrowers receive…

Q: DEFINE credit policy

A: Credit policy is the set of policies governing a company’s credit sales, outstanding amounts;…

Q: Define the following using your own words and give examples To credit Debit Credit

A: Introduction:- Debit column is on the left and the credit column is on the right. Every transaction…

Q: What is the difference between Accounts Payable and Accounts Receivable? Explain each in generic…

A: Financial Management: Financial management comprises of two words i.e. Finance and management.…

Q: What is easy-access credit?

A: Introduction: The ability to borrow cash or obtain goods or services with expectation of repaying it…

Q: What is a credit memo? Why it is used? Give an example?

A: Credit Memorandum: This is a document by the seller for the reduction in the amount owed by the…

Q: Accounts receivable can be classified as ____

A: Introduction: Balance sheet: All Assets and liabilities are shown in Balance sheet. It tells the net…

Q: Define discounts (in credit terms)

A: Discount in credit terms is a method utilized to understand receivables for deal with cash flow…

Q: What is a line of credit? Give three examples?

A: Line of credit is the borrowing limit available to a customer by the bank. The customer can borrow…

Q: Define Accounts payable.

A: Accounts payable refer to money owed by a entity to its creditors or suppliers from whom the entity…

Q: Give an example of accounts receivable.

A: The account receivables are also known with the name of debtors. These are the values due to a firm…

Q: What are credit terms?

A: Credit terms or terms of credit It is the vender purchaser agreement that rundowns the planning and…

Q: Describe the relationship between debit balances and credit balances when it comes to “t graphs”?

A: T-graph or T-accounts: T-account is the form of the ledger account, where the journal entries are…

Q: What should be in the credit file

A: Following is the contains in credit file

Q: Give a definition of “Receivables”. Give two examples.

A: In accounting, Receivables means amount to be received from outside of the company. It includes…

Q: Credit scoring is the:

A: Credit scoring: It is a statistical analysis done by financial institutions and lenders to decide a…

Q: Where i can used credit union

A: Whenever a group of people collect deposits and use those deposits to give loans, it is known as…

Q: Define credit enhancement

A: Borrowings are the liability of the company which is used to finance the requirement of the funds.…

Q: What is the  basic differences between transferable letters of credit and back-to back letters of…

A: These are two types of credit given to businesses.

Q: What is the differ

A: A credit memorandum stand for credit memorandum when a contributor's withdrawal from his bank…

Q: Define credit union

A: Credit Union is a not for profit entity that provides financial services to its members.

Q: Credit and collection management is also known as RCM. What is RCM and its meaning

A: credit and collection management is that term mostly used in the accounting for goods and services…

Q: Difference between a debit and a credit.

A: Debit and credit are the two aspects of a transaction and a ledger account. The short form used for…

Q: Define each of the following terms: l. Stretching accounts payable; free trade credit; costly trade…

A: Trade credit is the outstanding due arising from sales or purchases made on credit. Accounts Payable…

Q: In your own definition what is credit and what is collection

A: The businesses tend to conduct their operations not only on a cash basis but also on a credit basis.…

Q: What is meant by a line of credit?

A: Credit refers to the concept is being defined as the financial agreement where the borrowers receive…

Q: Define the term credit revenue.

A: Credit Revenue: When goods or services are sold on credit, they are recorded as revenue, but since…

Q: EXplain the loan structuring?

A: Loan restructuring is designing of loan according to the requirements of the borrower and also to…

Q: what is credit transactions?

A: credit transactions:-    Credit transaction is a transaction of which the repayment of money loaned…

Q: What are the 5 C’s of credit?

A: The 5 C's of credit is used by rhe lender to measure the credit worthiness of potential borrowers.

Q: what is credit

A: Finance refers to the management of money and includes activities like lending, budgeting,…

Q: describe in detail credit unions

A: Financial institutions: A corporation engaged in the business of handling financial and monetary…

Q: What are the basic inputs to recognize an account receivable?

A: Accounts receivable can be defined as the money that is owed to the firm on the sale of goods or…

Q: Define account receivable

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

Q: ring is/are categorized as open account credit?

A: Open account credit refers to a pre-approved loan between a lender/retailer and a borrower. This…

Q: Diffrence between debit and credit ?

A: Debit and credit are two sides of general ledger account. For some accounts, debit means increase…

Q: Explain and expand the three sources of credit

A: Sources of credit means the places from where a person can borrow money. Every sources has its own…

Q: Okay credit is between

A: A credit score is a three-digit figure that varies between 300 and 900. The credit reporting…