Describe account receivable?

Correct Answer: financial protection to surviving dependents after the death of an insured

Explanation:

The primary purpose of life insurance is to provide financial protection to surviving dependents after the death of an insured.

Correct Answer: Indirect

Explanation:

The tax that is paid to a third party is Indirect tax.

Correct Answer: Total

Explanation:

Standard deviation measures total risk in stocks.

Correct Answer: A company may also have various company codes across the different locations There will be exchange of services between these company codes These goods and services which are shared or exchanged between these company codes are bring to terms during the month end process The exchange difference has to be settled by a company code in the way of money transfer This process is known as Intercompany Settlement

Correct Answer: A pro forma invoice is a price quote and subject to change Accounts Payable Services does not pay from pro forma invoices, statements, quotes or estimates

Correct Answer: Accounts Receivable department is very important department of the company The responsbilities of the department is approval of credit limit to the customer study the past history of customer credit sending invoices to the customer updation of the customer credit data factoring contacts with the factoring agents follow up of customers motivating the customers to pay the dues intime and communicating the information to the management Credit sales data estimation of credit sales for the future period request for funds to finance department whenever they required follow up of customers receivables management

Correct Answer: Debenture holder are those who provides long term loan at specific interest rate in term of cash and creditor provides only short term credit in term of cash for purchasing of goods

Correct Answer: You should have recorded in your cash books all amounts you?ve actually received and payments you?ve actually made However, the cash books may be incomplete as your bank may have put extra transactions through your account, such as: bank fees or interest charges direct debits (payments) and direct credits (receipts) Doing a regular bank reconciliation will allow you to: take into account any extra transactions your bank puts through your account, and check and record any errors or omissions By regularly doing a bank reconciliation (say monthly) you can be more confident that your records contain all the information you need to prepare your income tax return and activity statements reconciliation- This is a statement prepared to find the reason for difference in any two balance eg 1)bank reconciliation is prepared to find the reason of difference between the passbook & cash book balance 2)Stock reconciliation is prepared to the reason of difference between the physical balance & book balance or to find the stock balance as on certain date etc

Correct Answer: Credit Management is the process of managing the outstanding receivables of the organistion as per the policies adopted by the organisation Companies might the approach of categorising the B/R by their ageing and provision for the same would be taken into account while preparing the financial statements for an organisation

Correct Answer: Selling the rights to the amounts owing by debtors to a finance company for an agreed amount (which is less than the figure at which they are recorded in the accounting books because the finance company needs to be paid for providing the service)