For it to be fun. No competition means no fun in the environment.
Answer: To meet all consumer needs
Explanation: In a socialist economy good and services are produces for direct use. Unlike a capitalist economy where goods and services are produced to earn profits. The purpose of producing goods in a socialist economy is to utilise the economy's scarce resources in a way that maximum consumer needs can be satisfied.
Thus, option D- to meet all consumer needs is the correct choice.
Kata ganti dan nama orang.
<span>Inflation is good because it keeps the economy growing as wages increase and demand for goods goes up, but if inflation gets high then the economy can become overheated when prices go up too fast and people can't afford goods. The Federal Reserve Bank, if you're in the USA, will then raise interest rates to make loans more expensive and rewarding people for not spending money, which slows down the economy back to a healthy state.</span>
Answer:
The complete answers are below.
Explanation:
a) The main difference between Financial Accounting and Managerail Accounting is its purposes and the stakeholders who make use of the information that each one provides.
While financial accounting refers to the aggregation of accounting information in the financial statements, management accounting refers to the internal processes used to account for business transactions.
For instance: Financial accounting reports on the results of an entire business, Managerial accounting reports at a more detailed level. Financial accounting must comply with various accounting standards, whereas managerial accounting does not have to comply with any standards when information is compiled for internal consumption.
b) The financial statements most frequently provide are: Balance Sheet or Financial Position, Income Statement, Statement of cash flows and Statement of Changes in Equity.
c) In general, financial reports and financial statements differ in the formal status of financial statements in business and accounting, and these respond to standards such as GAAP and IFRS. While the financial reports have a format or presentation rules given by management, the financial statements, in the other hand, are prepared on regular basis as specific entities are required to do so according to applicable laws. It can be said that financial accounting provides financial statements and managerial accounting is responsible for financial reports.
