Fabian inherited some money from his family and decided to open a hardware store on his own. He bought the entire inventory on credit from vendors with the promise of paying them later. He hoped to have good sales when he opened the store because there werenтАЩt any other hardware stores in the area. However, he couldnтАЩt sell most of his stock because there did not seem to be any demand. He knew he wouldnтАЩt be able to pay the creditors from the money the store made. What kind of ownership does Fabian have over his store? What kind of liability is Fabian open to regarding the money owed to his creditors? Fabian has over the store. He has with respect to the money owed to his creditors.
Answers
Answer:
As Fabian opened his store and made a purchase in credit, this made the asset as current assets and they are mainly getting converted to current liabilities as because he is liable to pay for the products he purchased but was unable to sell those items.
Explanation:
There are many ways of making money, but when there is a way of earning money which is not predictable, then it becomes very difficult to make decisions and analyze for anything,
Answer:
As Fabian opened his store and made a buy in credit, this made the benefit as present resources and they are for the most part getting changed over to current liabilities as in light of the fact that he is at risk to pay for the items he acquired yet was unfit to sell those things.
There are numerous methods for profiting, yet when there is a method for acquiring cash which isn't unsurprising, at that point it turns out to be exceptionally hard to settle on choices and dissect for anything.