What is CC and OD in banking?
CC and OD are two different forms of credit that are offered by banks to their customers. CC stands for... View Article
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What’s the difference between equity and shares?
Equity refers to the capital that is invested in the business by the owners while shares are portions of the... View Article
How many intermediaries are involved in the issue of IDR?
Intermediaries involved in the issue of IDR are as follows: Overseas custodian bank Domestic depository Merchant banker Also read: Difference... View Article
What is the minimum issue of IDR?
The minimum size of an IDR issue should not be less than ₹50 crores. Also read: Difference Between ADR and... View Article
What are the features of IDR?
The features of IDR or Indian depository receipts are as follows: It is an instrument for foreign companies to raise... View Article
Who can issue ADR?
ADR or American Depository Receipts can be issued by a US depository bank. Also read: Difference Between ADR and GDR... View Article
What is a sales ledger?
Sales ledger is the ledger in accounting that contains a record of all the accounts of customers and it records... View Article
Are there rules in recording business transactions?
The following are some of the rules when recording a business transaction in the form of a journal entry: There... View Article
What are the different types of provisions in accounting?
The different types of provisions in accounting are as follows: Provision for bad debts Restructuring of liabilities Provision for depreciation... View Article
What is the entry of provision for bad debts?
The following journal entry needs to be passed for provision for bad debts Profit and loss A/c Dr. Provision for... View Article
What are the six steps for recording a business transaction?
The six steps for recording a business transaction are: Analysing the transactions. Recording the transaction in journal Posting of debit... View Article
What is the process of recording business transactions called?
The process of recording business transactions is called journalising. Also read: Cash Book Purchase Book Sales Book and Sales Return... View Article
What are the tax advantages of a sole proprietorship?
The tax advantages of the sole proprietorship form of business is that in a sole proprietorship business, the owner has... View Article
What are 5 characteristics of a sole proprietorship?
The five characteristics of sole proprietorship are as follows: Sole owner of the business Unlimited liability No legal entity Sole... View Article
What are 3 sole proprietorship businesses?
The examples of 3 sole proprietorship businesses are as follows: Grocery store owner Freelance writer Pharmacy owner Also read: Sole... View Article
What are the disadvantages of a sole proprietorship business?
The disadvantages of a sole proprietorship business is: Unlimited personal liability It is difficult to raise money Less efficient and... View Article
What are 3 advantages of a sole proprietorship?
The 3 advantages of sole proprietorship are as follows: Very easy to set up with minimum requirements. It is possible... View Article
Does a sole proprietorship owner have limited liability?
No, a sole proprietorship owner has unlimited liability towards the business. Also read: Sole Proprietorship Difference Between LLP and Partnership... View Article
What is a sole proprietorship example?
Sole proprietorship examples can be a computer shop owner, small restaurant owner, pan shop owner etc. Also read: Sole Proprietorship... View Article
Do sole proprietorship owners need to pay income tax on behalf of their businesses?
No, sole proprietorship owners need to pay personal income tax on the amount of profits earned by the business. Also... View Article
