Answer:
Information Age and labor saving innovation in manufacturing.
Explanation:
The Service economy can be defined as the economy which centers at giving the service than producing goods. A country that provides a service economy is able to earn more from the service sector than other sectors such as manufacturers.
The investment in the service economy is cheaper than other sectors and is comprised of <u>freelancers and entrepreneurs such as doctors, lawyers, professors, etc.</u>
<u>The factor that has led to this shift in countries to a service economy is because of the increase in demand for services in education and Information Technology. And also because of the labor-saving innovations</u>.
Thus the correct answer is the first option.
Answer: Accrual accounting
Explanation: Under the accrual method of accounting, the entity records the revenues and expenses in the period of their occurrence, regardless when the cash is exchanged.
In the given case, Porite is recognizing revenues in the same period for the account receivable of asset from which that revenue is generated. Hence, the receiving of revenue is not taken into consideration.
Hence, from the above we can conclude that the practice of Porite is an example of accrual accounting.
<span> Strong emotions or feelings are necessary</span>
C actions the federal reserve takes to influence the economy
Answer:
Explanation:
Sole proprietor: The sole proprietor is the owner of the company which runs the business individually without involving any other member.
Limited liability Company (LLC): The LLC is the company which has limited liability towards everything like - business expenses, obligations, etc.
The difference between these two is as follows:
1. Liability: The sole proprietor has unlimited liability whereas the LLC has limited liability
2. Ownership control: In the sole proprietorship, the single owner is there who is responsible for all the things but in the LLC it includes various employees, members, outsiders who are responsible for their task and control the business activities together.
3. The Number of owners: In a sole proprietorship, only one owner is there but in LLC, many owners can be there.
4. Existence of the entities: If the business owner dies than the proprietorship is not in existence whereas in the LLC the company is in existence whether someone dies or not because other peoples are there to take their position.
