TRADE DEBTORS Definition

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TRADE DEBTORS represent amounts of money owed by customers who have purchased goods/services from the company.

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LEASE is a contract where a party being the owner (lessor) of an asset (leased asset) provides the asset for use by the lessee at a consideration (rentals), either fixed or dependent on any variables, for a certain period (lease period), either fixed or flexible, with an understanding that at the end of such period, the asset, subject to the embedded options of the lease, will be either returned to the lessor or disposed off as per the lessors instructions.

COMPANY LIMITED BY SHARES is where the members' personal liabilities are limited to the par value of their shares. a company limited by guarantee.

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