Accounting and Finance Questions

Asset means anything that can be converted into cash. Here in banks, the loans disbursed by Bank to its customers is considered as assets because when they are cleared by them, then they are directly converted to cash.

Wage Revisions as per wage policy every finanical year means April of the every year will revised.

At the same time Basic is revised as per appointment order like we are given probation period to every employee after completion of the employee probation than basic also revised and depends upon Organisation Structure also.

Smart money is a term used for credit card.

The journal entry to record a credit sale is Accounts Receivable. Credit sale is nothing butthe customers pay at the time of buying.

Goods that are excludable include both private goods and natural monopolies.