Answer:
It improves employee retention and performance motivation.
Explanation:
There are few factors that keep employee motivated and loyal toward organization. The basic factors are career path and monetary benefits that keep the energy flow in the employee.
A formal succession plan is a human resource management strategy for identifying the potential successor, it reduces the confusion for the organization and employee in the method of hiring and promotion. These strategies also keep an employee motivated, improve performance and retention in the organization as they find growth and security in the organization.
Answer: $85,000
Explanation:
Drawings are debited/deducted from the Equity account to reflect that the owner's holdings in the business has reduced.
Profit is added to the Equity account in the form of Retained Earnings.
The closing Balance on Equity is;
Closing Balance = Opening Balance + Profit - Drawings
Profit = Closing Balance - Opening Balance + Drawings
Profit = 175,000 - 120,000 + 30,000
Profit = $85,000
MICROeconomics refers to the effects and purchasing decisions of individuals.
This differs from MACROeconomics which focuses on large scale views of things that affect the economy as a whole like inflation and interest rates.
<span>External users are people outside the business entity (organization) who use accounting information. Examples of external users are suppliers, banks, customers, investors, potential investors, and tax authorities.</span>
