Business entity assumption is required to maxim to record the building at $500,000.
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What is Business entity assumption?</h3>
Business entity assumption, also known as separate entity assumption or the economic entity concept, is an accounting principle that argues that all businesses must maintain their financial records independently of their owners and other businesses. All revenue generated by the company's operations must be reported as revenue, and all expenses must be those directly related to the maxim. Any owner's personal expenses shouldn't be charged to the business. Due to the precise separation of the Business entity assumption, the firm may be examined for tax and profitability using accurate financial data rather than a maxim combination of personal and business money.
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<span>The ease with which people perform transactions and find information.</span>
Answer:
b.to verify that the ledger is in balance at the beginning of the next period.
Explanation:
Post-closing trial balance: In this trial balance, there is no role of net income as the temporary accounts are already closed and the net income is already transferred to the retained earnings account.
It is used to check that the debit balance and the credit balance is equal and balanced. Only the balance sheet item is displayed in this trial balance.
Thus, option b is correct as it carries forward the balance to the beginning of next period
Answer:
E)
Explanation:
It was prepared for this because Starbucks tracked, as part of its ongoing environmental scanning activities, the percentage of households with single-cup brewers. The data that they managed to gather through this study allowed them to quickly determine that there was a large percentage of households with single-cup brewers and therefore the customer base was there. Having a large customer base would drastically increase their chances of obtaining massive profits by simply providing the necessary product to those households, which they plan to do with this partnership.
Global trade is trade that happens across international borders. Rather than one country buying and selling things, goods and services are traded between countries across the globe.