The executive summary is the part of formal business plan which discusses the industry, business structure, products and services and other plan to make the business successful.
The business plan is a formal and written document which outlines the goals of the company, shows tasks to be performed and shows the financial plans to be use to accomplish the outlined goals.
The part of the business plan includes:
- Executive summary shows the summary of key points in the business plan.
- Marketing plan shows the promotion and marketing plans of the business.
- Key management bios shows the planned management structure of the business
- Financial plan shows the finance plans of the business
Therefore, the executive summary is the part of formal business plan which discusses the industry, business structure, products and services and other plan to make the business successful.
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Answer:
c. Record no revaluations, bonus, or goodwill
Explanation:
As new incoming partner is giving more than the investment required it means there is some goodwill or revaluations or bonus involved which requires to be treated in the books otherwise it will be assumed that accounts are not properly reported and capital accounts will not be justified. Third option says no revaluations, bonus or goodwill will be recorded which is wrong.
Answer: social complexity
Explanation:
Social complexity simply relates to how the existence of human beings are being studied. The things that are studied include armed conflicts, marriage practices, emigration patterns, political movements, natural disasters, etc.
Therefore, array of firm resources includes interpersonal relations among managers in the firm, its culture, and its reputation with its customers and suppliers. Such competitive advantages are based upon social complexity.
The
necessary adjusting entry to record inventory shortage would be:
“Cost of
Merchandise Sold debit $5,000; Merchandise Inventory credit $5,000.”
Cost of Merchandise
Sold is the cost of goods and services that correspond to sales made to
customers. In this case, we need to decrease ending inventory by the quantity
of these goods ($5,000) that either were shipped to customers or assigned as
being customer-owned under a certain agreement. Meanwhile, the merchandise inventory is the cost of goods on hand and is available for sale ($5,000).
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