1⃣ Business : business is an organisational activities concerned with manufacturing and services of products to meet customer need
3⃣ Profit : Profit is reward for the risks and efforts undertaken by a business firm
4⃣ Objectives : The objectives are the aim that an organisation and personally which to achieve over a period of time
5⃣ AOA: Articles of Association
A Document containing rules for the internal management of a company
A Document containing rules for the internal management of a company
6⃣ MOA : Memorandum of Association
Document filed by a public limited company with the Registrar of Companies containing-
(i)The Name and address of the company It's objective
(ii)The extent and limitations of liability of its members
(iii)Details about share capital
Document filed by a public limited company with the Registrar of Companies containing-
(i)The Name and address of the company It's objective
(ii)The extent and limitations of liability of its members
(iii)Details about share capital
7⃣ Power of attorney :
Legal document authorising a person to Act on behalf of another person totally or to a certain extent as stayed by the person signing the document
Legal document authorising a person to Act on behalf of another person totally or to a certain extent as stayed by the person signing the document
9⃣ Amortization : Decrease in the value
The writing off periodically of capitalised expenditure.
It is the write off of Intangible asset
The writing off periodically of capitalised expenditure.
It is the write off of Intangible asset
🔟 Depreciation : Decrease in the value
The writing off periodically of capitalized expenditure.
It is the write off of tangible assets.
The writing off periodically of capitalized expenditure.
It is the write off of tangible assets.
What is Credit Note and Debit Note ?
A Statement claim for goods returned to a person to whom some reduction in rates has been given
An intimation sent to a debtor stating the items and the account with which he has been debited
A Statement claim for goods returned to a person to whom some reduction in rates has been given
An intimation sent to a debtor stating the items and the account with which he has been debited
What is Circular Note ?
A form of letter of credit, usually with cheques attached, provided by bankers to customers to make travel convenient.
A form of letter of credit, usually with cheques attached, provided by bankers to customers to make travel convenient.
What is mean by Moratorium ?
An extension of time allowed by the government during which the debtor need not meet his repayment obligations when they fall due.
An extension of time allowed by the government during which the debtor need not meet his repayment obligations when they fall due.
What is meant by Quorum ?
Minimum number of member who are required to meet, to transact business according to the constitution of an organisation.
Minimum number of member who are required to meet, to transact business according to the constitution of an organisation.
What is Discount ?
Reduction in regular price given to a person for payment before the due date.
Reduction in regular price given to a person for payment before the due date.