Tag: Types
Creditor: meaning, types and more
Who is a creditor? A creditor is an individual or organization that lends money or extends credit to another party. The term creditor is most commonly used in the context of financial transactions, such as loans, credit cards, mortgages, and lines of credit. In general, creditors are entitled to receive repayment of the money that …
Liquidation: meaning, types and more
What is liquidation? Liquidation is a term that is often used in business and financial contexts, but it can be confusing for those who are not familiar with the concept. At its most basic level, liquidation refers to the process of converting assets into cash in order to pay off debts or distribute funds to …
Takeover: meaning, types, impact and more
What is a takeover? A takeover is a process by which one company acquires another. Takeovers principally take place through the purchase of company’s stock, assets, or other securities of the company. The acquiring company becomes the new owner of the acquired company and assumes operational control. Takeovers can be initiated by the acquiring company …
Types of taxes in Nigeria for businesses
Running a business in Nigeria can be quite challenging, and one of the most significant challenges faced by entrepreneurs is navigating the complex tax system. Taxes are an essential aspect of every business in Nigeria, and understanding the various types of taxes is crucial to ensure compliance and avoid legal complications. In Nigeria, businesses are …
Turnover: meaning, types and more
Accounting is a significant part of a business. The balance sheet assist the business in knowing whether it makes profits or is drowning in losses. In this article, we will explore the meaning of turnover in accounting, its importance, and other related concepts. What is turnover? Turnover is a fundamental concept in accounting that refers …
Asset: Meaning, types, classification and more
Assets are a crucial aspect of any financial plan, and understanding their meaning and how to use them effectively can help you achieve your financial goals. In this article, we will explore the different types of assets, their meanings, and how they can be used to build wealth and financial security. What are assets? Assets …
Types of Business Ownership & the Pros and Cons of Each
There are many things to do when starting a new business, and one of them is choosing the right business structure. Mind you, a business structure depends on the type of ownership. In this post, we will explain the different types of business ownership and the pros and cons of each. The type of business …
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Non-disclosure agreement (NDA): meaning, types and more
In today’s business world, companies often have confidential information that they need to protect from being leaked to competitors or the public. One way they do this is by using non-disclosure agreements (NDAs). NDAs are legal contracts that prevent individuals from sharing confidential information with others without authorization. This article will provide a comprehensive understanding …
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Value: meaning, types, how to calculate and more
What is value? In the financial world, the term “value” is one of the most commonly used and widely understood concepts. It refers to the perceived worth or importance of an asset, investment or company, and is a critical consideration for investors and analysts alike. However, while the term may seem straightforward, its meaning and …
Elasticity: Meaning, types, examples and more
The theory of demand and supply influences economic decisions. This article provides an in-depth explanation of elasticity, including its meaning, types, and applications. The work explores the key factors that affect elasticity and how it can be calculated, as well as provide real-world examples to illustrate its importance in decision-making. What is Elasticity? Elasticity is …