Public Sector: the part of an economy that is controlled by the government.
( The government controls the income, and everything part of a business)
Private Sector: the part of the national economy that is not under direct government control.
( Sometimes referred to as " a citizen run business" in which a citizen makes all the choices and decisions for what is best for their business)
Answer:
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Explanation:
D........A complete set...
Answer:
Explanation:
The journal entries are shown below:
On July 1
Prepaid insurance A/c Dr $9,400
To Cash A/c $9,400
(Being the prepaid insurance for cash is recorded)
On December 31
Insurance expense A/c Dr $2,350
To Prepaid insurance A/c $2,350
(Being the insurance expense is recorded)
The computation is shown below:
= Prepaid insurance amount ÷ number of years × number of months ÷ total number of months in a year
= $9,400 ÷ 2 years × 6 months ÷ 12 months
= $2,350
A written document prepared by an entrepreneur that describes all the relevant external and internal elements involved in starting a new venture is known as a(n) business plan.
in the field of business, an idea or strategy that you formulate in order to set up a business is referred to as a business plan.
Based on these ideas, a written document is made in which all the ideas and strategies for the business are expressed.
A business plan describes all the factors and elements that will be required in the new business.
A business plan makes it easier to execute the plans made for a business or a new venture.
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