Entering advance entry in the books without paying them
Querist : Anonymous
Just had a query, a company is entering advances in the name of vendor without intention to pay them off, what that means. the entry they are passing in books
Advance - Dr
To, Creditors.
Is this something suspicious
Querist : Anonymous
This is a typical case of window dressing. If the intention is not to pay then the company is building its assets may be with the intention of getting bank finance or with the intention of luring some equity investor since the balance sheet looks strong with big assets figures.
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