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What is the amount owed to creditors called?
liability
If you have credit debt and that institution files bankruptcy do you still have to repay?
Yes. The bankrupt institution will pass your debt to its creditors that it owed money to.
What can occur when a person owes more money than he or she can earn or pay to creditors?
A person can lose everything he or she owns when creditors move in to collect what they are owed. A person might have to go through bankruptcy.
Can you place a lien against an executor of an estate in which they owe money to you?
If you are owed money by the decedent you must file a claim with the court during the time period allowed for claims by creditors.
What is money collected from or owed by customers called?
payment
What is the creditors?
money owed by the company
What is the creditors balance?
money owed by the company
What is the amount owed to creditors called?
liability
What is the definition of debtors and creditors?
Debtors are people who owe money to creditors. Creditors are people who are owed money by debtors. For example, the bank is a creditor allowing people to take out loans and the people taking out the loans are the debtors.
What stage of accounting is known as accounts payable?
Accounts payable is money owed by a company to its creditors.
What is the difference between outstanding expenses and creditors?
They are both liabilities and, therefore, represent money owed by the business. The only difference is that while creditors are owed money because you bought stock from them (the items you will either resell or use for manufacturing) and have not paid while outstanding expenses represent money owed for services (such as electricity) or other general expenses that have not been paid, even though they have now become due.
Why would debtors in the countryside who owed people money want more silver to be coined and more dollars to be printed?
The debtors owed money so they need money to pay back the money they owed so they wanted more silver coined and money printed. The creditors were against this because it was their jobs to lend money and if money was just printed they would lost money and eventually their job.
Difference between accounts payable and creditors?
Accounts payable are usually the suppliers to a company who are providing credit terms on purchases. Sundry creditors are any other creditors which dont fall into the usual categories on the balance...account receivable- money coming in for profit account payble-money going out for a expense .Accounts payable refers to liabilities owed to creditors from whom you've made a purchase. Notes payable refer to liabilities owed to investors from whom you've borrowed money by issuing a debt...
If you have credit debt and that institution files bankruptcy do you still have to repay?
Yes. The bankrupt institution will pass your debt to its creditors that it owed money to.
What can occur when a person owes more money than he or she earns or pay to creditors?
A person can lose everything he or she owns when creditors move in to collect what they are owed. A person might have to go through bankruptcy.
What can occur when a person owes more money than he or she can earn or pay creditors?
A person can lose everything he or she owns when creditors move in to collect what they are owed. A person might have to go through bankruptcy.
What can occur when a person owes more money than he or she can earn or pay to creditors?
A person can lose everything he or she owns when creditors move in to collect what they are owed. A person might have to go through bankruptcy.
