Contract of agency part -1
ACCOUNTING TERMS These are some common and important accounting term Business transaction :- Transactions of cash, goods, services and etc between two parties in a business is called business transaction. Account :- A statement of transaction affecting any particular asset, liability, expense, or income. Capital :- Amount which is invested by the owner in business is called capital. Drawings :- when businessman withdraws cash or gods from his business for personal use then it is called drawings. Drawings decrease the capital of the owner. Assets:- “Assets are the future economic benefits, the rights, which are owned or controlled by an organisation or individual.” Assets can be broadly classified as (a) Non-current assets :- Assets which were purchased for the production of goods or service and held by the business for the long term is called non-current assets. Example:- building, machinery etc. (b) ...
Very well explain komal....keep it up
ReplyDeleteNice notes keep it up
ReplyDeleteExcellent .. .. Bohtt ache se explain krte ho aap...thnku so much..
ReplyDeleteGood job Komal ji
ReplyDeleteThanks mam for explaine these terms..
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