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Personal Account of Co-venture The co-venturers account is debited with goods and sales proceeds were taken over, remittance share of profit. Similarly, the personal account…

Definition – Rose Quartz, translucent, usually turbid, very coarse-grained variety of the silica mineral quartz found in pegmatites. It is the name used for pink…

A broker is an intermediary agent in the purchase and sale of goods. He is an agent who negotiates contracts of purchase and sale (as…

Organic matter is a matter that has come from a recently living organism. Organic materials are composed solely of organic compounds. They are any type…

Bottomry Bond This is an important document used in foreign trade. It is the contract for the loan of money on a ship. In the…

Joint Venture Account This account is prepared to ascertain the profit or loss on a joint venture. This account represents the results of the business,…

Definition – Smoky Quartz is a color-variety of crystalline quartz. It is a grey, translucent variety of quartz that ranges in clarity from almost complete…

Book Debts Book debts are the amounts outstanding at a given date and owing to a trader by his customers as shown by the books…

Acetone, or propanone, is an organic compound with the chemical formula (CH3)2CO. It consists of three carbon atoms, six hydrogen atoms, and one oxygen atom.…

Foreign Branches Because of the rapid development of trade, commerce, and industries and with the growing tough competition, the business enterprises are opening their branches…

Bonus Shares Bonus shares are free shares issued to the shareholders out of accumulated reserves. These are additional shares given to the current shareholders without…

An inorganic compound is a chemical compound that is not an organic compound. That means it is not a carbon-based compound. Inorganics include salts, metals,…