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Showing posts with the label Terminology of accountancy

Terminology of Accounting(लेखांकन की पारिभाषिक शब्दावली)

1) Trade(व्यापार) :-    Purchase and sales of products for motive of earning profit is known as Trade.(लाभ कमाने के उद्धेश्य से किया गया वस्तुओ का क्रय-विक्रय व्यपार कहलाता है।) 2) Profession(पेशा) :- Activities which requires special knowledge and skill to be applied by an individual in his work to earn a living is known as profession. Examples- lawyers are professionals,engaged in legal profession governed by bar council of india, Doctor are professionals who are in medical professions and are governed by Medical Council of india.(आय अर्जित करने के लिए किया गया कोई भी कार्य जिसमे प्रशिक्षण की आवश्यकता होती है उसे पेशा कहते है। जैसे वकील, डॉक्टर, चार्टर्ड अकाउंटेंट. इन कार्यो को करने के लिए प्रशिक्षण की आवश्यकता होती है।)  3) Business(व्यवसाय) :-  Bussiness refers to those economic activites which are connected with the production, purchase, sales or distribution of goods or services with the main objectives of earning profits. Examples- Fishing, mining, farming, manufacturi

What is Capital ? ( Meaning, Definition and Type of Capital)

Capital is an investment which invested by Partners, Proprietor, or an Entrepreneur, in their businesses. The capital may be introduced in business as both monetary or assets form. The main purpose behind the capital investment in the business is to start the business properly and run there business smoothly. Definition of Capital. Capital refers to the financial resources used in business to fund their operations like plant & machinery, cash, equipment, and other resources. These resources allowed to produce products or services to sell to the customer. Type of Capital. There different types of Capital 1) Fixed Capital:-    It refers to the durable capital goods, which used in the production of goods again and again until they wear out. Like machinery, tools, factory, building, etc are fixed capitals.  2) Working Capital:- It refers to the amount which helps to run the business. The funds being constantly used to pay for core business operations, which are an

Creditor (Meaning, Definition,Types of Creditor)

What is Creditor? Any person or organization who sales goods or services in credit or grant money on credit to the other person or organization is known as a creditor. A business that provides suppliers or services to companies or an individual and does not demand payment immediately is also considered as a creditor. Who is Creditor? The creditor may be a person, supplier, or Bank that has provided credit to the company. The amount owed to the creditor is reported on the company balance sheets as liabilities. Creditors can be classified as personal or real. People who loan money to friends or families are known as personal creditors. Real creditors have a legal contract with borrowers, sometimes granting the lender the right to claim any of the debtor real assets (For example, bank or finance company). Types of Creditor There are two types of Creditor 1) Secured Creditor      2) Unsecured Creditor 1) Secured Creditor The Creditor or Lender who gives credit to any Company,

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