Because shares of stock can be bought in tiny increments, even novice investors can take part in corporate fund-raising efforts.
<h3>What do you mean by corporations?</h3>
A corporation is a business entity whose shareholders elect a board of directors to run its affairs. The corporation, not the shareholders, is in charge of the company's activities and financial situation. a large company run by a collection of companies as a single unit: a multinational corporation. UK Broadcasting Corporation
<h3>What is the importance of corporations?</h3>
In order to create value over the long term, a corporation must conduct legal, moral, profitable, and sustainable business practises. This necessitates taking into account the stakeholders who are essential to its success (shareholders, employees, customers, suppliers, creditors, and communities), as determined. A corporation protects its owners' personal assets from liability more than any other type of entity. For instance, even if a company's assets are insufficient to cover its debts, its investors will not be held personally liable in the event of a lawsuit.
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Answer:
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Explanation:
A black hole is a place in space where gravity pulls so much that even light can not get out.
Qualification of the audit report.
A refusal by a lawyer to furnish information related to litigation included in the letter of inquiry is likely to result in Qualification of the audit report.
<h3>What is Qualification of the audit report?</h3>
- When the scope of the auditor's job is limited or when there is a difference of opinion with management on the application, acceptability, or sufficiency of accounting policies, the auditor's report is qualified.
- For auditors, a report must qualify an issue as material or as economically worthwhile.
<h3>What is an audit report with qualified opinion?</h3>
- An auditor's qualified opinion states that, with the exception of a particular area, the financials are fairly reported.
- A qualified opinion is typically still acceptable to lenders, creditors, and investors, unlike an unfavorable or disclaimer of opinion.
<h3>What exactly is qualified reporting?</h3>
- An audit report that has qualifications is one that is not error-free.
- The auditor may qualify his report if he has any concerns about particular processes indicated in the financial statements.
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Over or under application of overhead should be corrected by closing it to Retained Earnings the Cost of goods sold as well Finished goods Work in process.
<h3>What is Retained earnings?</h3>
Retained earnings serves as the cumulative net earnings of a company after the accounting for dividends.
This can be used to correct the Over or under application of overhead.
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Answer:
A market economy is an economy that is primarly based on free markets, where consumers and producers meet to buy and sell goods and services, and prices are set according to the forces of supply and demand.
A Soviet-style communist economy, is also known as a planned economy or command economy. This is an economy where private property does not exist, the government owns all property, and plans the economy with years of anticipation. Prices are set by the government, as well as the quantities of goods and services that are produced and delivered.
The problem with planned economies is that it becomes too difficult for the government to coordinate economic activity. The government lacks a lot of vital information, and ends up assigning resources to activities that are not efficient. These economies also lack proper prices, which are the signals that coordinate economic activity.
For that reason, the market economies prevailed over the planned economies, they were simply more efficient: better at producing more goods and services, at cheaper prices, and using less resources.