A brief description of various types of assets and liabilities is given below: Types of Assets 1. Current Assets Current Assets are those assets which are converted into
Obligations of Bankers towards Customers The relationship that arises between banker and customer, in conducting, various businesses involve certain obligations and rights on the banker as well as
Purchase returns Sometimes, goods purchased are returned back to the suppliers for various reasons such as goods are not as per sample, inferior quality of the goods, etc.
Duties of Auditor regarding the distribution of dividends The auditor should perform the following duties regarding the distribution of dividend: 1. The auditor should examine the Memorandum of
Important differences between Interim dividend and Final dividend An interim dividend differs from a final dividend in the following respects: 1. The Board of Directors declares an interim
Rights of Partners in a Business Partnership 1. Right to Take Part in the Conduct of the Business Sec. 12(a) stipulates that each partner in a business partnership
7 Important differences between Pvt Company and Public Ltd company Following are the important points of distinction between a private company and a public company: 1. Transferability of
Issue of Bonus Shares The issue of bonus shares refers to a good method of capitalizing huge profits or reserves with the company, However, the company may capitalize
Members of a Company In the ordinary commercial usage, the term ‘Member‘ denotes a person who holds shares in a company. The members or the shareholders are the
Important Steps in Planning Process Planning involves a number of steps ranging from determining the objectives to follow-up action as detailed below. The main steps that are taken