5 Questions
What are manufacturers, wholesalers, and suppliers of goods or materials collectively referred to as?
Trade creditors
Why do business firms extend credit to customers for trade purposes?
To promote future sales
What is the main difference between shares and debentures?
Shares represent ownership, debentures represent a loan
In trade credit, what happens when goods are delivered by a supplier to a customer?
Payment is made after some time
Why do suppliers often offer discounts for early bill payments under trade credit?
To encourage prompt payments
This quiz elaborates on Rule 2(1)(c) of the Companies (Acceptance of Deposits) Rules 2014, defining 'deposit' and what it does not include such as amounts received from government entities or banking companies.
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