1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Lena [83]
3 years ago
5

Items that have a useful life of more than one year and used in the business

Business
1 answer:
djverab [1.8K]3 years ago
6 0

Answer:

They are non-current assets

Explanation:

Items that have a useful life of more than one year and used in the business are non-current assets.

<u>Non-current assets</u>

Non-current assets are assets which represent a longer-term investment and cannot be converted into cash quickly. They are likely to be held by a company for more than a year. They appear in the assets section of balance sheet.

Non-current assets include the following:

  • Land
  • Building
  • Property, plant and equipment
  • Machinery
  • Fixture and fittings

These are different from <u>current assets</u>.

<u>Current assets:</u>

Current assets represent all the assets of a company that are expected to be conveniently sold, consumed, utilized or exhausted through the standard business operations, which can lead to their conversion to a cash value over the next one year period. Since current assets is a standard item appearing in the balance sheet, the time horizon represents one year from the date shown in the heading of the company's balance sheet.

Examples of current assets include

  • Cash,
  • Cash equivalents,
  • Accounts receivable,
  • Stock inventory,
  • Marketable securities,
  • Pre-paid liabilities, and other liquid assets.

In a few jurisdictions, the term is also known as current accounts.

You might be interested in
The publisher of an economics textbook finds that, when the book's price is lowered from $70 to $60, sales rise from 10,000 to 1
ankoles [38]

Answer:

Price elasticity of demand = 2.6

Explanation:

Given:

Old price (P0) = $70

New price (P1) = $60

Old sales (Q0) = 10,000 units

New sales (Q1) = 15,000 units

Computation of Price elasticity of demand(e):

Midpoint method

e=\frac{\frac{Q1-Q0}{\frac{Q1+Q0}{2} } }{\frac{P1-P0}{\frac{P1+P0}{2} } }

By putting the value:

e=\frac{\frac{10,000-15,000}{\frac{10,000+15,000}{2} } }{\frac{60-70}{\frac{60+70}{2} } }\\e=\frac{\frac{-5,000}{\frac{25,000}{2} } }{\frac{-10}{\frac{130}{2} } }\\

e=\frac{\frac{-5,000}{12,500} }{\frac{-10}{65} }

e =  2.6

7 0
3 years ago
Which of the following is NOT an advantage of​ e-tailing over traditional​ brick-and-mortar retailing? A. The ability to offer a
Julli [10]

Answer:

D). Customers find it more comfortable to shop and easier to return unwanted items.

Explanation:

Electronic retailing or e-tailing offers the sale and purchase of goods and services online/internet while traditional mortar retailing proposed the goods and services to the customers through a street-side market and face-to-face medium. There are numerous advantages of the upheaval of online retailing like it offers convenient, and quick access to the stores at any time from any place of the world having internet. It saves the traveling time of the consumers and also reduces the infrastructural costs and develops competitiveness. Thus, as per the question, the option that does not display an advantage of e-tailing is option D as a return in brick-and-mortar was more convenient than e-tailing.

6 0
3 years ago
Forms of Business Organization
chubhunter [2.5K]

Answer:

<h2>Forms of Business Organization </h2>

1. The basic concepts of financial management are the same for all businesses, regardless of how they are organized. However, a firm's legal structure affects its operations.

The main forms of business organizations are: (1) proprietorships, (2) partnerships, (3) corporations, and (4) limited liability companies (LLCs) and limited liability partnerships (LLPs). In terms of numbers, most businesses are______proprietorships_. However, based on the dollar value of sales, most business is done by_corporations____.

Businesses are frequently started as__Limited Liability Companies____and then converted to_Corporations_____when their growth results in disadvantages outweighing advantages.

2. A proprietorship has three important advantages: (1) It is easily and inexpensively formed, (2) it is subject to_less____government regulations, and (3) it is subject to lower income taxes than are_corporations_____.

However, a proprietorship also has three important limitations: (1) A proprietor has_unlimited_____personal liability for the business' debts. (2) The life of the business is limited to the life of the individual who created it. (3) A proprietorship has difficulty obtaining large sums of capital so proprietorships are used primarily for small businesses.

3. A partnership has two important advantages: (1) It is easily and inexpensively formed and (2) its income is allocated on a pro rate basis to partners and taxed on a(n)_individual____basis so the partnership avoids higher_corporate____income taxes. A partnership has four important disadvantages: (1)_Unlimited_____personal liability, (2)_Limited____life, (3) difficulty of transferring ownership, and (4) difficulty of raising large amounts of capital.

4. A corporation has the following advantages: (1)_Unlimited____life, (2) ownership that is easily transferred through the exchange of stock, (3)_Limited____liability, and (4) can_easily_____raise large amounts of capital to operate large businesses. Its disadvantages are: (1) Corporate earnings may be subject to_corporate_____taxation and (2) setting up a corporation and filing required state and federal reports is complex. Large corporations are known as C corporations. However, as an aid to small businesses Congress created S corporations.

5. Limited liability corporations (LLCs) and limited liability partnerships (LLPs) have limited liability protection like_corporations_____but are taxed like__proprietorships____. Investors in an LLC or LLP have votes in proportion to their ownership interest. LLCs and LLPs have been gaining in popularity, but large companies still find it advantageous to be_formed into_____corporations because of advantages in raising capital for growth.

Explanation:

The above are forms of business organization through which investors can realize their investment dreams.

6 0
3 years ago
The ________ allows a company to capture the highest economies of scale.
Klio2033 [76]
It is the Continuous Flow Production Process. It is a stream creation strategy used to fabricate, deliver, or process materials without intrusion. Consistent generation is known as a persistent procedure or a nonstop stream process in light of the fact that the materials, either dry mass or liquids that are being prepared are constantly in movement, experiencing synthetic responses or subject to mechanical or warm treatment. Persistent handling is diverged from group generation.
3 0
3 years ago
Future economic trends are not influenced by economic theories. True or false?
nikklg [1K]
That statement is false.
Economic theories will determine how companies see the market and will somehow affect the decision that they will make for the market.
This decision will influence the future economic trends because these companies usually are really forward thinkers. From this, we could draw a correlation between future economic trends and economic theories
5 0
3 years ago
Other questions:
  • According to the spotlight on small business box titled "cutting back while cutting costs," overseas outsourcing is ____________
    15·1 answer
  • What is the name for a segment of a consumer market that has specialized product needs?
    12·1 answer
  • When a lender charges interest, it is known as:
    13·2 answers
  • You are interested in hiring an ergonomics consultant to evaluate your employees' desks and chairs. You research four consultant
    8·1 answer
  • Cyclical unemployment is the fluctuating unemployment over the business cycle that increases during​ _____ and decreases during​
    13·2 answers
  • Fulbright Corp. uses the periodic inventory system. During its first year of operations, Fulbright made the following purchases
    9·1 answer
  • In 20X4, Seda Corp. acquired 6,000 shares of its $1 par value common stock at $36 per share. During 20X5, Seda issued 3,000 of t
    7·1 answer
  • Identifying advantage of working in teams
    15·2 answers
  • Below is budgeted production and sales information for Flushing Company for the month of December. Product XXX Product ZZZ Estim
    5·1 answer
  • According to supporters of globalization,
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!