Business

Card Index

Card Index

Card Index This is one of the methods of indexing. It is a file or catalog consisting of cards on which information has been entered so that desired items or data can be readily found. Under the system, a card containing the name, address and the holder number of the correspondent is kept in sepa.....

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Methods of Keeping Joint Venture Account

Methods of Keeping Joint Venture Account

Methods of Keeping Joint Venture Account A Joint Venture is a temporary form of business, where two or more persons join together to meet the short term objectives. Mainly there are two ways of keeping a joint venture account. Both base the need to consolidate an organization’s accounting books.....

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Cash on Delivery (COD)

Cash on Delivery (COD)

C.O.D – the abbreviation stands for cash on delivery. It is a type of transaction in which the recipient makes the payment for a good at the time of delivery. This signifies that the payment for the goods is to be made at the time of delivery. It is a payment method where you pay for [&hel.....

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Capitalization

Capitalization

Capitalization It is the act of converting revenue into capital. It is the recordation of a cost as an asset, rather than an expense. It refers to the valuation of the total business. If a company constructs fixed assets, the interest cost of any borrowed funds used to pay for the construction ca.....

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Co-ventures Account

Co-ventures Account

Co-ventures Account Like the capital accounts in partnership, the co-venture account is opened in a joint venture. Co-venture is a business project or enterprise undertaken jointly by two or more companies, each sharing in the capitalization and in any profits or losses. It is credited with the i.....

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Cost, Insurance and Freight (C.I.F)

Cost, Insurance and Freight (C.I.F)

Cost, Insurance and Freight (C.I.F) C.I.F. abbreviation stands for the words cost, insurance and freight. CIF is a conventional method of shipping goods for importers. These terms are used in quoting the prices of goods. The seller must pay the costs and freight includes insurance to bring the go.....

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Joint Bank Account

Joint Bank Account

Joint Bank Account A joint bank account functions just like a standard banking account, except that two or more people on the account. It is just like a cash book. It is simply an account that you can share with your partner, housemates, or family. It records all the cash and bank transactions. I.....

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Cost and Freight (C and F)

Cost and Freight (C and F)

Cost and Freight (C & F) C & F stands for cost and freight. It is a legal term in international trade. When used in quoting prices, it includes the price of the goods together with all possible charges up to the destination excepting insurance. It means that the seller must pay the costs.....

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Personal Account of Co-venture

Personal Account of Co-venture

Personal Account of Co-venture The co-venturers account is debited with goods and sales proceeds were taken over, remittance share of profit. Similarly, the personal account is credited with cash, goods supplied by the co-ventures. Co-venture is a business project or enterprise undertaken jointly.....

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A Broker

A Broker

A broker is an intermediary agent in the purchase and sale of goods. He is an agent who negotiates contracts of purchase and sale (as of real estate, commodities, or securities). He is a person who buys and sells goods or assets for others. He is an independent party, whose services are used exte.....

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Bottomry Bond

Bottomry Bond

Bottomry Bond This is an important document used in foreign trade. It is the contract for the loan of money on a ship. In the course of a voyage, the captain of the ship may be in urgent need of money. In such a case, he may raise a loan on the security of the […]

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Joint Venture Account

Joint Venture Account

Joint Venture Account This account is prepared to ascertain the profit or loss on a joint venture. This account represents the results of the business, that is, profit or loss. A joint venture account is debited and a bank account or credit account is credited on the account of goods purchased or.....

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