Answer:
Unit of measure concept
Explanation:
The definition for a unit of measure refers to a common principle used throughout accounting, whereby all activities should be reported uniformly using the same currency. For instance, a business that holds its documents in just the U.S. will report its whole dealings in U.S. dollars, whereas a German company will report all its payments in euros.
If a transaction includes transactions or transfers in another currency, the sum is translated until being registered to the domestic currency utilized by an entity. Without a specific standard unit, financial reports will be impossible to generate.
A liability (such as salaries payable) will be increased. Expenses are increased. Net income is reduced.
<h3>What is liability?</h3>
What a person or business owes is known as a liability, and the amount owed is typically monetary. The transmission of economic rewards, such as money, products, or services, settles liabilities over time. Having to pay anything to someone else under the law is known as having a liability. To pay for a business's continuous operations, liabilities are incurred. Accounts payable, accumulated costs, owed wages, and owed taxes are a few examples of liabilities.
What your business has that has the potential to generate future financial benefits are its assets.
What you owe other people is your liability. To put it simply, assets increase your financial security while liabilities decrease it.
Obligations aren't always a terrible thing. Some loans are taken out to buy new equipment, such as machinery or automobiles, which aids small businesses in running and expanding.
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The important consideration for this company is that they
should think or have at least the idea of the patents, trade secrets and
copyrights are being treated differently by the countries in which is one way
of helping them of how they should struggle or do their way of doing things.
Answer:
a global standardization.
Explanation:
Global standardization can be defined as the ability of an organization to use standard marketing techniques across the world with respect to the cultural factors.
Also, local responsiveness can be defined as the degree of requirements and conditions to which a manufacturing firm should significantly adjust their products and methods of production in a particular country to.
A firm that is facing both strong cost pressures and strong pressures for local responsiveness should follow a global standardization strategy.
Hence, when a firm follows the global standardization strategy, the quality of its goods and services is able to meet the needs of customers (people) all over the world because of the streamlining of its production processes, products design, and simplified supply chain management.
