Answer:
I think the answer is B. If It's correct please give the brainliest award.
Answer:
D). Resale, Direct Use in Producing Other Products and Use in General Daily Operations
Explanation:
Business Groups represent a group of people who purchase goods and services for resell, new products and daily operations purposes.
Resale Purpose- This include wholesalers and retailers, they purchase these goods and services do not modify them but sell them in order to make profits. These are called Reseller markets
Use in Producing other Products- This include category of Producer markets. They include manufacturing and construction compaines, they buy goods and services for use in producing sellable products to consumers for profit making.
Direct use in General Daily Operations- Those who purchase goods and services for direct use are divided into two categories and they are not for profit making purposes.
- Government Markets- They buy goods and services through bidding processes and they include state, local and federal governments
- Institutional Markets- They include religious organisations among other NGOs who purchase goods an services to ensure community benefits.
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Answer:
The incurrence of a loss is reasonably possible.
Explanation:
A contingency loss is an expense charge on the financial statements for an event that may arise in future (a lawsuit).
If the amount of contingency loss can be estimated to a reasonable extent and the likelihood of the event happening is high, such loss will be recorded in the accounting records as an expense in the current accounting year. The loss has to be material enough for it to be recognized, although materiality is relative. What is termed "material" by one firm may be "immaterial" to another.
