Size of the organization, business model, nature of business and location are key factors in determining an organization's structure.
Settings in which development occurs, which are influenced by historical, economic, social, and cultural factors, are called <em>context.</em>
<h3>What is development?</h3>
This is the term that is used to refer to all of the processes that are able to create the growth of a person. It has to do with the growth and the progress as well as the effective changes that are known to happen in a particular society.
Hence we can conclude by saying that Settings in which development occurs, which are influenced by historical, economic, social, and cultural factors, are called context.
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Answer:
The ansewr is a barter based economy.
In a barter based economy, goods are exchanged for other goods, because no good that takes the functions of money exists (unit of account, store of value, and medium of exchange).
Barter economies can work on a limited scope, but to a larger extent, they can become inefficient, because this type of economy requires a double coincidence of wants: both parties of the transaction must desire the other party's goods.
Answer:
The accrual principle
The main purpose of adjusting entries is to update the accounts to conform with the accrual concept. At the end of the accounting period, some income and expenses may have not been recorded, taken up or updated; hence, there is a need to update the accounts.
