4
Q:

What is STPI ? why STPI knowledge required in Accounts Payable? 

Answer:
Q:

what is the difference between the terms 'credit' and 'debit' from the customer point of view?

Answer

 From the customer point of view, credit is the amount which is deposited into her or his account. And debit refers to that amount which is taken from the account of the customer.

Report Error

View answer Workspace Report Error Discuss

0 28
Q:

what type of account appear on a post closing trial balance?

Answer

The types of accounts that appear on the post-closing trial balance are the permanent accounts, Assets, Liability and Owner's capital. Permanent accounts is also called real accounts.

Report Error

View answer Workspace Report Error Discuss

18 603
Q:

What entry is recorded when $75.00 worth of supplies are purchased on account?

Answer

Purchasing good two kinds of entry 


Either Cash or Credit 


 


If Cash


Purchase A/c ------ Dr  xx  To Cash A/c


(Being good purchase on cash)


 


If Credit 


Purchase A/c ---- Dr  To Supplier A/c


(Being goods purchase on Credit)

Report Error

View answer Workspace Report Error Discuss

11 1049
Q:

What is the full form of the trem WIRE in wire payment ? Explain the process for making and receiving the payment through WIRE?

Answer

There is no specific abbreviation for the term WIRE because when the payment is being made using this option, you will not see the physical movement of funds. It is all electronic. It is just like a current passes through Wire. 


Therefore Electronic movement of funds is campared with WIRE.

Report Error

View answer Workspace Report Error Discuss

11 2149
Q:

What is the difference between billable and non-billable expenses?

Answer

The terms Billable and Non-Billable expenses are normally associated with say a consultancy company where they bill consultants out to their clients. Therefore Billable expenses will be paid by the client whereas Non-billable will be paid by your employer. What's included in both is subject to the contract your company has with their client.

Report Error

View answer Workspace Report Error Discuss

5 602