What type of expense is rates and taxes?
direct expenses Rent, rates and taxes is an example of direct expenses. What is rates and taxes in accounting? Rates and Taxes are the charges or fees whi...
What are the objectives of international public sector accounting standards?
Objective. IPSAS aims to improve the quality of general purpose financial reporting by public sector entities, leading to better informed assessments of t...
Is stockholder equity an expense?
An expense will decrease a corporation’s retained earnings (which is part of stockholders’ equity) or will decrease a sole proprietor’s capital account (w...
What does cash balance mean?
Cash balance is the amount of money on hand. You get that by taking the previous month’s cash balance and adding this month’s cash flow to it — which mean...
What is virtual agents in AI?
A virtual agent is a contact centre capability that uses a virtual character, created through computer generation, animation and artificial intelligence (...
What debt is created when a business makes a purchase on account?
The debt created by a business when it makes a purchase on account is referred to as an: account payable. What is a debt that a business owes? Liabilities...
What is the full meaning of assumption?
1 : a taking to or upon oneself the assumption of a new position. 2 : the act of laying claim to or taking possession of something the assumption of power...
Is business accounting a good major?
Yes, an accounting major is a good major for many undergraduate students. The Bureau of Labor Statistics is projecting 5% job growth in business and finan...
What is purchases in accounting terms?
Definition: A purchase means to take possession of a given asset, property, item or right by paying a predetermined amount of money for the transaction to...
What is a marginal benefit in economics?
A marginal benefit is the maximum amount of money a consumer is willing to pay for an additional good or service. The marginal cost, which is directly fel...
