17:33 Feb 14, 2005 |
English language (monolingual) [PRO] Bus/Financial - Accounting | |||||
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| Selected response from: Deborah do Carmo Portugal Local time: 23:46 | ||||
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SUMMARY OF ALL EXPLANATIONS PROVIDED | ||||
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5 +2 | rental of leased premises |
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4 | property? |
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4 | physical location >>> |
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1 | presumption |
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Discussion entries: 6 | |
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property? Explanation: "premise" alone would be basis of a proposition, as Debbie states. In a profit & loss account i would expect to see "premises", meaning property, land or buildings. Reference: http://dictionary.reference.com/search?q=premise |
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physical location >>> Explanation: if premises is the word what you are looking for and not premise, premises is land and the building on it or part of a building. In accounting is ment for tax purposes, which would be considere as expenses or minus,debit on landlords? sheet. Somebody already mentioned that. Premise - the underlying rationale for an argument or proposale Reference: http://www.investorwords.com |
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presumption Explanation: the presumption made, ie the premise relied upon, in making a statment, conclusion, or evaluation. maybe. |
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premises rental of leased premises Explanation: As an expense entry in a profit and loss account this would almost certainly related to the rental costs for leased premises. The company for which you are translating is the lessee and they have a landlord to whom they pay rental every week/month/semester/year - normally monthly - to be able to operate from thse premises. The premises are most probably some form of office space or warehousing - depending on the type of business. Hope this helps -------------------------------------------------- Note added at 11 mins (2005-02-14 17:45:25 GMT) -------------------------------------------------- almost certainly relate to...... -------------------------------------------------- Note added at 55 mins (2005-02-14 18:28:37 GMT) -------------------------------------------------- In the context of a balance sheet - which sets out the assets and liabilities - the relevant entry is normally land and buildings I the contest of a profit and loss account (also known as an income statement) you are dealing with income and expenditure. If premises is listed an an EXPENSE - it must relate to the rental of premises. If the property is owned by the company in question it could conceivably refer to maintanance or other property-related expenses but this is highly unlikely as normally that would be under it\'s own listing Repairs and Maintenance. PREMISES - in this content means a place of business. If it\'s an expense, then it must be because it\'s rented. -------------------------------------------------- Note added at 55 mins (2005-02-14 18:29:11 GMT) -------------------------------------------------- In the context - spelling!!!!! -------------------------------------------------- Note added at 1 day 20 hrs 24 mins (2005-02-16 13:58:10 GMT) -------------------------------------------------- rental is most certainly NOT a debit on a balance sheet as pretty has just suggested. It is an expense item and features in the profit and loss account (UK=income statement) With all due respect pretty is not distinguishing between an expense and a liability. A balance sheet reflects assets and liabilities at a particular date. A profit and loss account )income statement) reflects income and expenditure over a stated period. Rental is an expense item!!!!! |
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