Why we debit money instead of crediting

Q: What is the use of payment request forms?

A: Payment request form a requisition form used for the request for payment. This request is a non…

Q: What is easy-access credit?

A: Introduction: The ability to borrow cash or obtain goods or services with expectation of repaying it…

Q: Which of the following is NOT commonly regarded as being a credit policy variable? * Collection…

A: “Since you have asked multiple question, we will solve one question for you. If you want any…

Q: What factor does not go into determining your credit score

A: credit score is very important in getting loan and credit and it shows the ability and history of…

Q: When can we used credit union?

A: Credit unions are the institutions or co-operatives that give banking services. These unions are…

Q: Why are credits and debits different for banks compared for personal finance usage?

A: In personal account, all expenses, assets, and losses will be debited. All incomes, liabilities, and…

Q: What is unsecured borrowing?

A: Definition:   Liabilities: The claims creditors have over assets or resources of a company are…

Q: What makes a nominal account different from a real one?

A: SOLUTION ACCOUNTING CYCLE IS A COLLECTIVE PROCESS OF IDENTIFYING , ANALYZING AND RECORDING THE…

Q: desrcibe credit card security and why its imporant

A: Credit Card Security: A form of credit card known as a secured credit card is one that requires the…

Q: How Do We Manage our Credit Card Debt?

A: There are many ways to manage the credit card debt. Some of them are below: Pay more than the…

Q: what is the difference between co-pay and coinsurance

A: Coinsurance and copays are different variants of cost sharing arrangement between health insurance…

Q: Which type of information asymmetry explains why bad credit risks are more likely to seek bank…

A: Adverse selection, as a rule, alludes to a circumstance where dealers have data that buyers do not…

Q: Why can't Accounts Receivable ever have a credit balance? Why can't Accounts Payable ever have a…

A: Whenever goods are sold on account that is cash to be received in future from debtor we get an…

Q: What costs are associated with carrying receivables?

A: Cost Accounting -Cost accounting is a commercial activity in which we track, analyze, compile, and…