Now I taking preparation for my class exam. Today I have read some important definition in chapter 5- Financial appraisal of suppliers , They are following
Assets : An assets is something which is owned by the business and use for achieving the business objective .
Liability : Liability is a sum owned by the business to outsiders ( eg amount owning the trade and outstanding load , overdraft , tax and wages.)
Income or revenue : this is the amount earned by the organization .
eg from sales, interest of deposit , dividend of investment
Expenditure : The amount spend by the organization .
Assets = Fixed assets + current assets
Net Current assets = Total current assets - total current liability
Turnover : Turnover means what amount of good sold during the year, whether or not the cash was actually received during the year.
Assets : An assets is something which is owned by the business and use for achieving the business objective .
Liability : Liability is a sum owned by the business to outsiders ( eg amount owning the trade and outstanding load , overdraft , tax and wages.)
Income or revenue : this is the amount earned by the organization .
eg from sales, interest of deposit , dividend of investment
Expenditure : The amount spend by the organization .
Assets = Fixed assets + current assets
Net Current assets = Total current assets - total current liability
Turnover : Turnover means what amount of good sold during the year, whether or not the cash was actually received during the year.
