Its gross profit could be identical to its net revenue. There might not be a cost of goods sold in a service business. There is no distinction between net revenue and gross profit in this instance.
<h3>What are businesses?</h3>
- The practice of earning a living or generating revenue via the production, acquisition, and sale of items is known as business (such as goods and services).
- Additionally, it includes "any activity or enterprise undertaken for profit."
- The owner of the business is responsible and liable for any obligations made by the business since the business entity is not legally distinguished from the owner by the use of a business name.
- If a firm accrues debt, creditors may seize the owner's personal property.
- Corporate tax rates are not permitted in a firm structure.
- All business income is subject to personal taxation for the proprietor.
<h3>What is Management?</h3>
- Management (or managing) is the process of overseeing the operations of a company, nonprofit, or governmental entity.
- It is both the science and the art of managing a company's resources.
- Setting an organization's strategy and managing employee (or volunteer) efforts to achieve goals through the use of available resources, such as financial, natural, technological, and human resources, are included in management.
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Answer:
C. as the supply for milk increases, the price of milk will also increase
Answer:
Liquidity of an asset refers to how easily convertible the asset is to cash or so called liquid money.
Most Liquid - A $5 bill
This is already cash so it is the most liquid there is.
Second-Most Liquid - The funds in a money market account
Funds in a money market account are the second most liquid because most often they can simply be withdrawn from the fund. There might be limits on the number of withdrawals allowed though within a period.
Third-Most Liquid - A share in a publicly traded company
A share in a publicly trade company ranks here because to realize the cash, one would need to sell the share first.
Least Liquid - Your house
Your house will be the most difficult of these to liquidate as it will involve a much longer process to eventually get it sold and realize cash. The process will include but will not be limited to, advertising, hiring realtors, inspection etc.
Answer:
$785.34
Explanation:
The computation of the seller's share of the tax bill is shown below:
= Expected estate taxes for the year × number of days of the tax year ÷ total number of days in a year
= $31,50 × 91 days ÷ 365 days
= $785.34
We simply applied the proportionate method so that the approximate value could be arrived by taking all the information which is mentioned in the question.
Answer: Option E
Explanation: In simple words, the group of factors outside the organisation that are not in the control of the management are called external environment. The legal-political dimension refers to the rules and legislation passed by the authorities for effective operating of the society as a whole.
In the given case, the inspection leading to safety upgrade was done done by the govt. Such requirement depicts that the safety structure was not as per the law passed or rule made.
Hence, from the above we can conclude that the correct option is E.
