All categories

3 years ago

What is the definition of business

Business

1 answer:

tester [92]3 years ago

7 0

Answer:

See below

Explanation:

Business refers to the practice of producing or purchasing goods and services for sale to make a profit. It is the act of engaging in commercial activities of buying and selling products and services for profits.

Business entails individuals and companies' activities of supplying desired products and services to customers with profit motives. A businessperson identifies a need in the community. He or she sells to the community goods or services that satisfy that need a higher price to make a profit.

You might be interested in

A firm has earnings before interest and taxes of $27,130, net income of $16,220, and taxes of $5,450 for the year. While the fir

grin007 [14]

Answer:

The correct answer is e. -$4,940.

Explanation:

This problem requires us to calculate the amount of the cash flow to creditors. The cash flow to creditor means all payment made to creditors in form of interest payment or principal payment. The amount borrowed is deducted from it. The detail calculation is given below.

Interest = Earning before interest and taxes - Net income - Taxes

Interest = 27,130 - 16,220 - 5,450

Interest = $ 5,460

Cash flow to creditors = 31,600 + 5,460 - 42,000 = -$ 4,940

6 0

3 years ago

Which of the following best describes how consumers make financial decisions in a market economy? A. The media forces consumers

notka56 [123]

Answer:

B. They make choices based on their self-interests.

Explanation:

A market economy can be defined as the economy of a country where by the government has a minimal influence or intervention on how the market operates.

A market economy is regulated by the individuals that owns the businesses in that economy. These individuals have the ability to direct resources that they need from production to their firms and businesses.

A market economy is largely or greatly influenced and regulated by the rate of supply and demand. Consumers in a market economy have to sometimes paid a high price for the goods and services that they require. Consumers make financial decisions in a market economy by making their choices based on self interests.

A market economy is a very competitive economy because

a. the demand of goods and services by consumers have increased therefore this results in an increase in production of goods and services.

b. The producers tend to high innovative when producing this goods and services required by the consumers.

In a market economy, businesses and firms tend to have an increased of a very high rate of efficiency when producing goods and services such that they minimise or lower the cost of production while ensuring that they make high or huge amounts of profits.

4 0

3 years ago

On January 1, 2020, Beyonce Co. purchased 25,000 shares (a 10% interest) in Elton John Corp. for $1,400,000. At the time, the bo

Drupady [299]

Answer: $‭4,688,250‬

Explanation:

Carrying value on Jan 1, 2021:

= Interest + share of net income Dec 31,2020

= 1,400,000 + (10% * 700,000)

= $1,470,000

Carrying value, June 2021:

= Carrying value + share of net income

= 1,470,000 + (10% * 500,000)

= $1,520,000

Carrying value, July 2021:

= Carrying value + Net stake purchased

= 1,520,000 + 3,040,000

= $4.560,000

Carrying value, December 2021

= Carrying value + share of net income - share of dividends

= 4,560,000 + (30% * 815,000) - (1.55 * (25,000 + 50,000 shares))

= $‭4,688,250‬

8 0

3 years ago

g Oregon Corp. prepares its financial statements annually and has a calendar year end. The adjusted trial balance ( NO MORE ADJU

Semmy [17]

Answer:

$1,700,000

Explanation:

The computation of the NET accounts receivable (the cash realizable value) at December 31, 2019 is shown below:

= Account receivable - allowance for doubtful debts

= $2,000,000 - $300,000

= $1,700,000

By deducting the allowance for doubtful debts from the account receivable we can get the net account receivable or the cash realizable value

Therefore we ignored the bad debt expense

5 0

3 years ago

A map from trade development commissions or chamber of commerce can be more useful that google maps for identifying

Marrrta [24]

A map from trade development commissions or chamber of commerce can help identify <em>major areas of commerce and location.</em>

Explanation:

Google map helps with location of building but will not give information about the commerce aspect of the building.

But since the Trade Development Commission has exclusive responsibility to provide that, then it will be more useful to identify major areas of commerce and their locations.

#learnwithbrainly

8 0

3 years ago