Detailed information about the financial statement elements is maintained in records commonly called "Accounts'
An account in accounting is a general ledger entry that is used to categorize and record transactions. For example, businesses will have a Cash account where they may record each transaction that raises or reduces the amount of cash they have on hand.
Three different accounts exist.
Real account: It links assets and obligations; it excludes accounts for specific individuals. They continue every year.
Personal accounts link the accounts of people,
Businesses, and organizations. All accounts for income, spending, losses and profits are related by a nominal account.
If Mild's 20X4 operating income included no foreign exchange transaction gain or loss, then the transaction could have been denominated in U.S dollars.
Furthermore, if it was denominated in U.S. dollars, there is no foreign exchange gain or loss for Mild.
(B). Business writers should have a definite purpose to fulfill in each message.
Explanation:
Business writing is a form of communication used in professional settings or in a business environment to pass across a message. It may occur between businesses and their employees, customers, stakeholders or other businesses.
There are <u>different types of business writing all with different purposes</u>. Some examples are emails, reports, memorandums, letters.
In business writing, the writer has to take into consideration the type of audience being addressed and their needs while drafting the message.
Product differentiation is when a product is being distinguished from similar products in order to make it more appealing and therefore drive consumers choice.
It should be noted that critics of market-oriented economies may argue that product differentiation is socially wasteful.