ACG2021 10: 00a
1 . Precisely what is the objective of most businesses?
The purpose of most businesses is to increase profits.
2 . What is the difference among a making business and a service organization? Is a restaurant a production business, a service business, or both? The differences between a manufacturing business and a service business is the fact a developing business adjustments basic advices into items that are sold to individual clients and something business supplies services rather than products to customers. a few. Why are the majority of large businesses like Microsoft, PepsiCo, Caterpillar, and AutoZone organized as corporations? These companies are organized as organizations because control is broken into shares of stocks and in addition they can obtain huge amounts of resources by selling stocks. 4. Whom are normally included as the stakeholders of a business? The stakeholders of a business are usually are owners, suppliers, buyers, and workers. 5. Precisely what is the function of accounting in business?
Accounting provides details for managers to use in functioning the business. In addition , accounting supplies information to other stakeholders to use in examining the economical performance and condition of the business. 6. Rebecca Olson are the owners of Aquarius Delivery Service. Lately, Rebecca paid interest of $1, eight hundred fifty on a cash advance of $30, 000 that she utilized to begin the business enterprise. Should Aquarius Delivery Services record the eye payment? Explain No, Aquarius Delivery Assistance should not record the interest repayment because the financial loan was taken out of Rebecca's personal account and exactly how the GAAP say do not mix personal with business costs. six. On March 3, Dependable Repair Services extended an offer of $80, 000 to get land that had been priced available for sale at $90, 000. In March six, Dependable Fix Service approved the seller's counteroffer of $88, 000. Describe just how Dependable Fix Service should record the land....
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