Tag Archives: businesses

Define bills of exchange

Define bills of exchange A written order to pay a sum of money on a given date to the drawer or to a named payee; a promissory note Or A written, unconditional order by one party (the drawer) to another (the drawee) to pay a certain sum, either immediately (a sight bill) or on a fixed date (a term bill), …

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What is Business?

What is Business? A person’s regular occupation, profession, or trade Or An activity that someone is engaged in Or An organization or economic system where goods and services are exchanged for one another or for money. Every business requires some form of investment and enough customers to whom its output can be sold on a consistent basis in order to …

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Define capital receipt

Define capital receipt Capital receipts are the funds received into the businesses that are not part of the operating activities of the establishment. Capital receipts primarily include external assistance, market loans, small savings, principal investment in bonds, and Government provident funds. Capital Receipt in not taxable as on date. Source: http://in.answers.yahoo.com/question/index?qid=20090606173943AAh9I2T Or CAPITAL RECEIPTS Receipts derived from activities which are …

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Define Net Loss

Define Net Loss Amount by which total of costs and expenses exceeds total revenue in an accounting period. Source: http://www.businessdictionary.com/definition/net-loss.html#ixzz2XFgVSa61 Or The result that occurs when expenses exceed the income or total revenue produced for a given period of time. For tax purposes, net losses in one time period can be used to counteract the income/gains generated in another time …

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