Business Entity concept

May 19th, 2015
Studypool Tutor
Norwich University
Price: $25 USD

Tutor description

The business entity concept holds that a business is a separate entity from its owner or owners, whatever the legal status of the enterprise may be.

Word Count: 427
Showing Page: 1/3
What is Capital Account?The amount of cash goods or any other asset which is bringby owner of company while starting the business with cash or furniture.What is drawing?Drawing is an amount withdrawn by businessman or owner ofcompany for his personal use,For example: - Goods withdrawn for personal useWhat is a debtor?A person who owes something is called as debtor, Debtormeans account receivable,For example: - A businessman sales goods on credit basis toMr. Sunil, in this case Sunil is debtor of company.What is Creditor?A person to whom something owing is called as creditor,Creditor means account payable,For example:- From Anil, Business have purchased goods oncredit that Anil is Creditor of company.What is Capital expenditure?Capital expenditure is such an expenses paid for purchase oflong term asset which is use fo

Review from student

Studypool Student
" excellent work as always thanks for the help "
Ask your homework questions. Receive quality answers!

Type your question here (or upload an image)

1819 tutors are online

Brown University

1271 Tutors

California Institute of Technology

2131 Tutors

Carnegie Mellon University

982 Tutors

Columbia University

1256 Tutors

Dartmouth University

2113 Tutors

Emory University

2279 Tutors

Harvard University

599 Tutors

Massachusetts Institute of Technology

2319 Tutors

New York University

1645 Tutors

Notre Dam University

1911 Tutors

Oklahoma University

2122 Tutors

Pennsylvania State University

932 Tutors

Princeton University

1211 Tutors

Stanford University

983 Tutors

University of California

1282 Tutors

Oxford University

123 Tutors

Yale University

2325 Tutors