Question

Define
solvents and insolvents (in accountancy)
Revenue

Answer 1

Answer :

Solvents

》 In accounts Solvent is referred to a person who is in a position to pay it debts which he had taken.

Insolvent

》Insolvent is just the opposite of it. It is referred to a person who is not in a position to pay it debts which he had taken.

Revenue

》In accounts Revenue means as the income of a recurring (regular) nature from any other source. It consists of the amount received form sale of goods and from service provided to the customers.