Answer:
Any commodities which are produced at home and yield utility to the family
Explanation:
Household production occur when member of a household produce goods and service for their own personal consumption or for their own personal use, using their own capital as well as their own unpaid labor .
In another word in HOUSEHOLD PRODUCTION the member of the household are both the producers as well as the consumers of the goods produce by them.
Example of these household consumption are: Foods, Clothes Acommodation among others. Therefore we can vividly say that HOUSEHOLD PRODUCTION consists of Any commodities which are produced at home and yield utility to the family.
Motorcycle loan, car loan, credit card bill, mortgage.
If you own your home, that would be considered an asset. Liabilities are financial obligations, or things that you will be required to pay.
Answer:
True.
Explanation:
Managerial accounting involves managers using accounting information to better inform themselves before making business decisions. It involves analysing, interpreting and communicating financial data to managers to aid in achievement of organisation's goals.
Managerial accounting is for internal use in the business. Data is modified to meet specific need of the end-user. For example a manager may want to see sales figures for a quarter compared to business target. This will give an idea if the business is meeting it's objectives.
Purpose was to lower trade barriers, such as high tariffs on
imported goods and restrictions on the number of imported items that inhibited
the free flow of goods across borders. Refers to manufacturers'
of goods and services from around the globe to take advantage of national
differences in the cost and quality of various factors of production (land,
labor, energy, capital) is called Globalization of production (off-shoring).
