The type of accounting information intended to satisfy the needs of external users of accounting information is the Financial accounting.
<h3>Financial accounting</h3>
Financial accounting is the field of accounting concerned with the summary, and reporting of transactions related to a business.
In comparison with other fields, Managerial accounting includes accounting of cost, and intended for the use of internal users of the business.
Tax accounting is specifically intended for tax.
Therefore, it is financial accounting that is intended to satisfy needs of external users in a business.
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When you have a gross income the expenses incurred are yet to be removed— it is just total sales less purchases. for net income the expenses are removed for the gross profit
Scarcity is relevant to Charles and Ebony's budget because it helps them make a decision on how to spend their money on the urgent needs while ignoring the other important things which comes with a burden of future cost.
Tradeoff decisions would help Charles and Ebony to analyze the amount of money that they must set out every month for essentials, and discretionary money which is the money left over.
Opportunity cost
Opportunity cost looks at affordability given the prices of goods and the individual's income. Opportunity cost measures cost in terms of what must be given up in exchange.
Therefore the factors of scarcity, tradeoff and opportunity cost will affect Charles and Ebony's budget because they have to factor in the effects of these economic forces on the budget.
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Answer:
Database
Explanation:
If we want to manage the information for more than one thing then the database is used. As it is a collection of the data which stores all the important and valuable information of the business organization.
The data is stored electronically if you want to edit, update or access then you can easily do it.
The examples are - Microsoft Access, Oracle, etc
So, the database can store much information as per your wants
Consistency: Your employees are guaranteed a certain amount every week or month excluding bonuses. ...
Additional perks: Salaried employees are entitled to a number of paid days off every year. ...
Higher wages: Salary workers generally have more responsibilities compared to their waged counterpart.
