This article throws light upon the four main types of taxes charged on taxpayers. the types are: 1. Direct and Indirect Taxes 2. Proportional, Progressive, Regressive and Degressive Taxes 3. Specific and Ad-Valorum Duties 4. Value Added Tax (VAT). Type # 1. Direct and Indirect Taxes: On the basis of assessment, rather than on the point of assessment, taxes are [...]
The following points highlight the six main types of current liabilities. The types are: 1. Accounts Payable 2. Bills (Notes) Payable 3. Interest Payable 4. Wages and Salary Payable 5. Current Portion of Long-Term Debt 6. Advance from Customers. Current Liabilities: Type # 1. Accounts Payable: Trade accounts payable are debts owed to trade creditors. They normally arise from the [...]
After reading this article you will learn about classification of distributing the financial services. Distributing the Services: The classification which is based on the distributing the services is actually depends on the Sources and Application of funds. Thus, the supplier of financial services has to play a dual role: (i) The sources of funds; and (ii) The borrower who uses [...]