pls tell me defination of accounting standards according to ICA?
2006-10-23 17:41:51 · 3 answers · asked by ash8489 1 in Education & Reference ➔ Higher Education (University +)
ACCOUNTING STANDARDS SIMPLE DEBIT CREDIT AND LEASE MEANS TO GIVE THE PROPERTIES FOR CERTAIN PERIODS AGAINST THE DEBIT. RENT MEANS RENTED THE PROPERTIES ON MONTHLY BASIS RENT.
2006-10-29 01:37:55 · answer #1 · answered by RAMAN IOBIAN 7 · 1⤊ 0⤋
Accounting standards r Debit & credit.
Rent is Monthly, Quarterly paid, where as Lease is letting out the property for some years to someone by taking consolidated amount. It can be for a year in small letouts or it may go upto 99 years in Govt, cases.
2006-10-24 00:50:07 · answer #2 · answered by ? 6 · 0⤊ 0⤋
Well a lease is a contract for a specified period of time. Rent isn't
here's a good webage for ya to peruse..
http://ez13.com/rules.htm
2006-10-24 00:52:34 · answer #3 · answered by dantheman_028 4 · 0⤊ 0⤋