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What is the meaning of sundry debtors in accounting?
What is the meaning of sundry debtors in accounting?
- Sundry debtors are customers who make frequent credit purchases of significant amounts.
- Sundry debtors are individuals who owe small, insignificant amounts to a company.
- Sundry debtors could refer to a company's customers who rarely make purchases on credit and the amounts are not significant. (correct)
- Sundry debtors are creditors who provide goods and services on account with a postponement of payment.
What does the term 'sundry' mean in accounting?
What does the term 'sundry' mean in accounting?
- Sundry indicates large and infrequent purchases.
- Sundry means various, miscellaneous, or diverse. (correct)
- Sundry refers to significant and regular transactions.
- Sundry signifies urgent and high-priority transactions.
Why was the term 'sundry' more common in manual bookkeeping?
Why was the term 'sundry' more common in manual bookkeeping?
- Manual bookkeeping required the use of the term 'sundry' by law.
- The term 'sundry' was easier to use in manual bookkeeping.
- Sundry transactions were more profitable in manual bookkeeping.
- Adding a new page for occasional customers could result in an unwieldy subsidiary ledger book. (correct)
What has eliminated the need for classifying customers and accounts as sundry?
What has eliminated the need for classifying customers and accounts as sundry?
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What do sundry creditors and sundry debtors refer to in accounting?
What do sundry creditors and sundry debtors refer to in accounting?
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