Mayank's latest activity

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    Mayank replied to the thread Is audit compulsory for all business?.
    No, audit is not compulsory for all businesses. It depends on the business type, turnover, and legal structure. Small businesses below...
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    Mayank replied to the thread Is Accounts Receivable an Asset?.
    Yes, accounts receivable is an asset. It represents money owed to a business by customers for goods or services delivered on credit. It...
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    Mayank replied to the thread What are Wages Payable?.
    Wages payable are the amounts a company owes to employees for work performed but not yet paid. They are recorded as a current liability...
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    Mayank replied to the thread what is a bank statement?.
    A bank statement is an official document issued by a bank that summarizes all account transactions, including deposits, withdrawals...
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    Mayank replied to the thread what is an american penny made of?.
    An American penny is primarily made of 97.5% zinc and coated with 2.5% copper. Since 1982, this composition replaced the earlier...
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    Mayank replied to the thread Days Inventory Outstanding.
    Days Inventory Outstanding (DIO) measures the average number of days a company takes to sell its inventory. It indicates inventory...
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    Mayank replied to the thread What is Account Management?.
    Account management is the process of building and maintaining strong relationships with clients, ensuring their needs are met. It...
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    Mayank replied to the thread What is progressive tax?.
    A progressive tax is a tax system where the tax rate increases as the taxpayer’s income rises. Higher earners pay a larger percentage of...
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    Mayank replied to the thread What is tax cuts?.
    Tax cuts are reductions in the amount of taxes individuals or businesses must pay, aimed at increasing disposable income, encouraging...
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    Mayank replied to the thread What are the latest IRS tax changes for 2025.
    In 2025, the IRS introduced several tax changes: Standard Deductions: Increased to $15,000 (single), $30,000 (married), and $22,500...
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    Mayank replied to the thread Who is sutton bank affiliated with.
    Sutton Bank is affiliated with several financial technology companies and payment platforms. It partners with Cash App, PayPal, Square...
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    Mayank replied to the thread What is a bank check?.
    A bank check is a written, signed document directing a bank to pay a specific amount of money from the issuer’s account to a designated...
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    Mayank replied to the thread What is a blue collar job?.
    A blue-collar job involves manual or skilled labor, often in industries like construction, manufacturing, maintenance, or...
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    Mayank replied to the thread Tx audit date extension 2025.
    The Central Board of Direct Taxes (CBDT) has extended the deadline for filing income tax audit reports for the Financial Year 2024–25...
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    Mayank replied to the thread How to explain basic accounting?.
    Basic accounting is explaining how businesses track money. It involves recording transactions, understanding income and expenses...
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