Question

Explain the following terms : (a) Capital Expenditure (b) Debtors (c) Cost of goods sold (d) Insolvent (e) Vouchers (f) Current Liabilities​

Answer 1

Answer:

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CAPITAL EXPENDITURE-Capital expenditure or capital expense is the money an organization or corporate entity spends to buy, maintain, or improve its fixed assets, such as buildings, vehicles, equipment, or land.

DEBTORS-A debtor is a company or individual who owes money. If the debt is in the form of a loan from a financial institution, the debtor is referred to as a borrower, and if the debt is in the form of securities – such as bonds – thedebtor is referred to as an issuer.

Cost of goods sold-Cost of goods sold (COGS) refers to the direct costs of producing thegoods sold by a company. This amount includes the cost of the materials and labor directly used to create the good. ... Cost of goods soldis also referred to as "cost of sales.

INSOLVENT-Bankrupt.

VOUCHERS-A voucher is a document used by a company's accounts payable department to gather and file all of the supporting documents needed to approve the payment of a liability. Avoucher is essentially the backup documents for accounts payable.

CURRENT LIABILITIES-In accounting, current liabilities are often understood as all liabilities of the business that are to be settled in cash within the fiscal year or the operating cycle of a given firm, whichever period is longer.

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