Accounting and Finance Questions

A debit can signify an increase in asset, an expense, and the owner's drawings. A debit can also signify a decrease in a liability, revenues and owner's equity.

Accounts receivable is listed as a current asset in the balance sheet, since it is usually convertible into cash in less than one year as it is the amount owed by the customer to the seller.

Direct tax is a tax directly paid to the government by the individuals or organizations on whom it is imposed. Sales Tax is paid for the sales of certain goods and services.

In the case of, "Price rises and demand is inelastic", the total revenue increases.

A 10 year, 5% coupon bond has the greatest interest rate price risk.

Bank credit balance meant that the banker is laible to paid us.

And if we have a credit balance accouding to bank statement is mean we have " cash at bank" and in our book we show in the assets side but bank show laiblities side.

Hence, The credit balance in the bank account is the amiunt we have in our account and we are eligible to withdraw that.

With the computerised payroll systems -

=>You saved a lot of your time,
=>Your accuracy and efficiency is increased by many times.
=>Your are free from small and small human mistakes in calculation and linking etc.
=>Once master data is updated(CTC,Reimbursement), rest is taken care by the systems once input is given as and when salary is processed.
=>Better control is exercised.