Accrual accounting is the recording of a financial transaction by a firm at the time a sale takes place, not when the money reaches the bank account. Learn more.
importers account, reflecting the decrease in its correspondent bank account 16、balance.5. What is meant by a currency trading at a discount or at a premium in the forward market?Answer: The forward market involves contracting today for the future purchase or sale of foreign exchange. The ...
柯林斯英语释义:If you say that something is bound to happen, you mean that you are sure it will happen, because it is a natural consequence of something that is already known or exists.at some point:在某个时候;迟早在第一集也出现过这个习语,是Beth Ann邻居的台词:“At some point, they are...
Explain what is meant by a current account surplus and a current account deficit in terms of the trade balance. How does the balance of trade differ from the balance of payments? Explain and illustrate the deposit creation pro...
a. Of what is the current account generally composed? b. Of what is the capital account generally composed? Balance of Payment: Balance of payment has a record of monetary transactions that take place between the residents of the country with the rest of...
When you open a savings account, you deposit your money into the account, and the bank pays you interest on the balance. The interest rate is typically higher compared to a current account because the funds in a savings account are not meant to be accessed frequently. Instead, they are int...
As current account is not meant for regular saving, interest on deposit in current account is not paid. More than one current account should not be opened for the same business entity. Account holder is required to maintain Minimum Average Balance (MAB) as prescribed by the bank. ...
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What Is Meant by Net Realizable Value of Accounts Receivable? NRV for accounts receivable is a reference to the net amount of accounts receivable that will be collected. This is the gross amount of accounts receivable less any allowance for doubtful accounts reducing the total amount of A/R by...
A closing entry is a journal entry that’s made at the end of the accounting period that a business elects to use. It’s not necessarily a process meant for the faint of heart because it involves identifying and moving numerous data from temporary to permanent accounts on the income stateme...