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The differences between Lila and Jillian's businesses are based on what they offer to the public, since one offers products and the other offers services, which makes their businesses different.
<h3>What is a product-based business?</h3>
A product-based business is a type of business in which the main purpose is to offer a specific product to the public, for example:
- Beauty products.
- Sport products.
- School products.
- Construction products.
<h3>What is a service-based business?</h3>
A service-based business is a type of business in which the main purpose is to offer a specific service to the public, for example:
- Satellite television service.
- Legal advice service.
- Sports training service.
- Nutrition service.
Based on the above, it can be inferred that the discussions between Lila and Jillian can include very varied topics because their businesses are different because they involve different value chains.
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An organization of investors usually in the form of a limited partnership who have joined together for the purpose of pooling capital for the acquisition of real property interests is known as a Real Estate Syndicate.
An organization is a group of people working together, such as a neighborhood association, charity, union, or business. The word organization can be used to refer to a group or enterprise or the act of forming or establishing something.
An organization is an official group of people such as a political party, business, charity or club. Most of these vocational schools are provided by volunteer organizations. ... Reported by the International Labor Organization. Synonyms: Synonyms for groups, companies, associations, associations, and organizations.
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Answer:
$284,000
Explanation:
Movements in the retained earnings account are as a result of the payment of dividend and the addition of the income or loss for the year.
Given that
Baxter generated revenues = $40,000
incurred expenses = $24,000
purchased equipment = $10,000 and
paid dividends = $4,000
Net income/(loss) = $40,000 - $24,000
= $16,000
Retained Earnings at September 30, 2012
= $272,000 + $16,000 - $4,000
= $284,000