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Ymorist [56]
3 years ago
11

What are two advantages and two disadvantages of the informal economy

Business
1 answer:
AnnyKZ [126]3 years ago
4 0

Answer:

Advantages of Informal Sector employment:

Some employers pay well because company owners do not have many tax obligations. Employee effort is directed towards achieving profit rather than satisfying irrelevant routines.

There can be a close and direct relationship with the employer, therefore making it easy to get permission when in need of time off.

You are saved the hassle of paying Pay As You Earn tax.

There’s no red tape when it comes to dealing with personnel issues which are expressly handled either by the employer him/herself, or a senior manager.

Sometimes employment is done on the spot with little emphasis on attending lengthy job interviews and countless aptitude tests.

Sometimes one is employed because of one’s personal relationship with the employer rather than on merit.

Disadvantages of Informal Sector employment:

Little or no job security.

Unprotected by labour laws.

Odd working hours.

No pension, insurance or health insurance scheme.

Summary dismissals.

Difficult to make any savings due to low wages.

A brief illness or injury or injury can mean no financial means to survive.

Explanation:

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Fitz Company reports the following information.
Paha777 [63]

Answer and Explanation:

The preparation of the operating activities section is presented below:

Cash flows from operating activities

Net income  $374,000

Adjustments made  

Add: Depreciation  $44,000

add: Amortisation expanses  $7,200

Add: Accounts receivable decrease  $17,100

Add: Inventory decrease  $42,000

Less: Prepaid expense increase  -$4,700

Less: Accounts payable decrease  -$8,200

Add: Wages payable increases  $1,200

Less: Gain on sale of machinery  -$6,000

Net cash provided by operating activities  $466,600

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3 years ago
What is the principle of the law of supply?
seropon [69]

B. The higher the price, the larger the quantity produced.

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3 years ago
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Reynolds Manufacturers Inc. has estimated total factory overhead costs of $136,400 and expected direct labor hours of 12,400 for
Helga [31]
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8 0
3 years ago
Which three activities are part of the function of accounting?
IgorC [24]

The 3 activities which are part of the function of accounting includes:

  • Classifying financial transactions
  • interpreting financial transactions
  • Recording financial transactions

Accounting (<em>including bookkeeping</em>) refers to the process of recording, preparing, analyzing and interpreting financial information or statements for future purpose.

As regards the options, 3 activities which are part of the function of accounting includes:

  • Classifying financial transactions
  • interpreting financial transactions
  • Recording financial transactions

In conclusion, the process of accounting helps to identifies, records, classifies and communicate the company's economic events to interested users.

Missing word includes <em>"1. prioritizing financial transactions 2. classifying financial transactions 3. planning financial transactions 4. interpreting financial transactions 5. recording financial transactions"</em>

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2 years ago
Katie is a supervisor at a fast food restaurant. Every week, she submits a progress report to Molly, the restaurant manager, to
GarryVolchara [31]

Answer: Upward communication

Explanation:

Upward communication can be defined as the communication process that occurs from the lower levels to higher levels. In other words, communication flows upwards. Communication is a fundamental aspect of every workplace since it allows us to express everything that is happening at work. When communication occurs effectively, work can be done better and thus give better results. When there is communication, it is also easier to identify possible problems that may arise.

Staying in constant communication helps to make the work environment more comfortable for both, it is important to be able to express everything related to work and receive feedback that only has the intention that everything can go better.

7 0
3 years ago
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