Pay example sentences

Marine insurance policy: It is a certificate of insurance contract whereby the insurance company agrees in consideration of a payment called premium to indemnify the insured against loss incurred by the latter in respect of goods exposed to perils of the sea.Similarly compare, items on the payments side of the Receipt and Payment Account with expenditure side of the Income and Expenditure Account.Thus, Receipt and Payment Account gives summarised picture of various receipts and payments, irrespective of whether they pertain to the current period, previous period or succeeding period or whether they are of capital or revenue nature.Secured debentures refer to those debentures where a charge is created on the assets of the company for the purpose of payment in case of default.But in some cases, to avoid any possibility of delay or default, an instrument of credit is used through which the buyer assures the seller that the payment shall be made according to the agreed conditions.On the other hand, the households do receive interest payments from private firms or the government on past loans advanced by them.The total amount of debenture liability is divided by the number of years it is to 114 Accountancy : Company Accounts and Analysis of Financial Statements last and the actual debentures redeemable are identified by means of drawing the requisite number of lots from out of the debentures outstanding for payment.” The amount received will be adjusted towards the payment of calls as and when they becomes due.According to Income Tax Act 1961, a company must deduct income tax at a prescribed rate from the interest payable on debentures if it exceeds the prescribed limit.The work relating to sanction and payment of drawback is, however, looked after by the Commissioner of Customs or Central Excise Incharge of the concerned port/ airport/land custom station from where the export of goods is considered to have taken place.High inflation rates generally result in constraints on business enterprises as they increase the various costs of business such as the purchase of raw materials or machinery and payment of wages and salaries to employees.For this purpose, a Realisation Account is prepared to ascertain the net effect (profit or loss) of realisation of assets and payment of liabilities which may be is transferred to partner s capital accounts in their profit sharing ratio.Accountants are now capable of working in exciting new growth areas such as: forensic accounting (solving crimes such as computer hacking and the theft of large amounts of money on the internet); ecommerce (designing web-based payment system); financial planning, environmental accounting, etc.This is because it borrows by issuing bonds to the people living at present but may decide to pay off the bonds some twenty years later by raising taxes.The company redeems the debentures by paying the whole amount in one lump sum to the debenturesholders at the expiry of the agreed time or earlier at the option of the company.