Author: Terms compared staff

Depreciation vs depletion

Fixed assets are those assets that are utilized by the business over a long period of time and generate long term benefits or revenue for the business. Fixed assets are capitalized in the books of accounts as their benefits are...

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B2B vs B2C

Business entities undergo different interactions with each other as well as with end users of their products. These interactions typically include purchase of merchandise or raw materials inventory from vendors, sale of goods...

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Provision vs reserve

Entities need to recognize their expenses correctly so that the books of accounts reflect the true financial condition of their business. Expenses which arise within a specific year are recorded in the books as and when they are...

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