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what is mean by accounts

Answers were Sorted based on User's Feedback



what is mean by accounts..

Answer / kalpna

ACCOUNTANCY IS A SYSTEM WHERE WE KEEP & SUMMREISED DETAILS
OF DAY TO DAY TRANSACTIONS OF THE BUSINESS.

Is This Answer Correct ?    6 Yes 1 No

what is mean by accounts..

Answer / kolawole

Accounts is the way of keep records of money spent and recieved

Is This Answer Correct ?    3 Yes 0 No

what is mean by accounts..

Answer / ram

accounts is a process.
which one is involves in all business or company
transactions called accounts.

Is This Answer Correct ?    3 Yes 0 No

what is mean by accounts..

Answer / shankar_285

accounts is mean by maintain books,p&l accounts,balance sheet, schedule etc......,

Is This Answer Correct ?    5 Yes 3 No

what is mean by accounts..

Answer / anchit saxena

accounting is the requirement for all of the business
entity so every business entity keeps maintain their books
of accounts on accrual basis without maintaining of
accounts we can't get a clear picture of the concern.

Is This Answer Correct ?    1 Yes 0 No

what is mean by accounts..

Answer / riyasdeen

accounts means recording of company transaction records
like expenses and losses

Is This Answer Correct ?    1 Yes 1 No

what is mean by accounts..

Answer / banoj kumar swain

IT IS A STATEMS WHERE ALL THE TRAANSACTION WERE EXPLAINED
IN TERM OF DEBIT AND CREDIT

Is This Answer Correct ?    1 Yes 2 No

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5 Answers  


My company was granted a bank facility of 750,000 for guarantee, performance bond, advance payment, retention guarantee and 100,000 bank overdraft. These facility amount was never added to the company account. a. What is the entry? b. Lien over fixed deposit for 50,000 to be brought upfront c. Lien over gradual buildup for fixed deposit 50,000 by transferring 10,000 monthly from customer's account to separate call account. d. After a month, we had an overdraft of 22,000. What will be my entry? e. After 3 months, we have a construction project and was asked for advance payment of 24,000 with a 25% margin? f. Another company asked for performance bond of 44,200 with 25% margin.

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