Explanation

Postage stamps on hand are considered as Prepaid expenses. Prepaid are any expense the business pays for in advance, such as rent, insurance, office supplies, postage, travel expense, or advances to employees.

Explanation

Working Capital Management is short-term financial planning.

 This is the set of tactics employed by Treasury to meet an organisation's cash needs.

Explanation

An intangible asset is an asset that is not physical in nature.

computer software, licences, trademarks & films etc. are called Intangible Assets.

Explanation

Drawings accounts will be debited if the business's owner withdraws cash from business for personal use.

Goods withdrawn for personal use by the owner of a business reduce inventory and are recorded on a drawings account.

Explanation

Debit increases the capital account balance statements is incorrect regarding capital account. It decreases the capital account balance.

Explanation

Posting refers to the process of transferring entries in the journal into the accounts in the ledger.

Explanation

Amortization is the process of expensing the cost of an intangible asset over the projected life of the asset for tax or accounting purposes. 

Explanation

A perpetuity is a type of annuity that lasts forever, into perpetuity.

Explanation

Historical cost of inventories may be determined by using FIFO & LIFO.

FIFO stand for First In, First Out.

LIFO stands for last in, first out

Explanation

Fixed Assets are items that have a life span of one year or longer.