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is bringby owner of company while starting the business with cash or furniture.What is drawing?Drawing is an amount withdrawn by businessman or owner ofcompany for his personal use,For example: - Goods withdrawn for personal useWhat is a debtor?A person who owes something is called as debtor, Debtormeans account receivable,For example: - A businessman sales goods on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
" Wow this is really good.... didn't expect it. Sweet!!!! "
Ask your homework questions. Receive quality answers!

Type your question here (or upload an image)

1824 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