All categories

3 years ago

What is the difference between the public sector and the private sector?

Business

2 answers:

sattari [20]3 years ago

7 0

Explanation:

difference between the public sector and the private sector

The private sector is comprised of companies that are owned, maintained and regulated by individuals.Whereas the public sector includes different business operations that are owned and controlled by the Government.
Companies in the public sector get financial support from the government whereas companies in the private sector get no financial support from the government.

Example of the public sector: National Thermal Power Corporation, State Bank of India, Indian Oil Corporation Limited, Highway Authority Limited, Bharat Petroleum Corporation Limited, National.

Example of the private sector: Reliance Industries Limited, ICICI Bank, HDFC Limited.

zepelin [54]3 years ago

3 0

Public sector refers to government-owned organizations and government-provided services. Private sector refers to 1) organizations that are not government owned, and 2) the goods and services provided by organizations outside of the government. For example, companies owned by individuals are part of the private sector.

-https://www.accountingcoach.com/blog/public-sector-private-sector

You might be interested in

Consider the market for mobile applications, smartphones, and conventional phones. For each pair, identify whether they are comp

Bogdan [553]

Answer and Explanation:

The complementary goods are those goods which are used together while on the other hand the substitute goods are those goods that are used in place of one another

Based on this, the classification is as follows

1. Complementary goods

2. Substitute goods

3. Substitute goods

The above represents the classifications

8 0

3 years ago

Required information [The following information applies to the questions displayed below.] The following events occur for Morris

Gekata [30.6K]

Answer:

Journal 1 : February 2, 2021 Provide services to customers on account for $26,000

Trade Receivables $26,000 (debit)

Revenue $26,000 (credit)

Journal 2 :July 23, 2021 Receive $17,000 from customers on account.

Bank $17,000 (debit)

Trade Receivables $17,000 (credit)

Journal 3 :December 31, 2021 Estimate that 20% of uncollected accounts will not be received

Profit and Loss $ 1,800 (debit)

Allowance for Doubtful Debts $ 1,800 (credit)

(26,000-17,000)×20%

Journal 4 :April 12, 2022 Provide services to customers on account for $39,000

Trade Receivables $39,000 (debit)

Revenue $39,000 (credit)

Journal 5 :June 28, 2022 Receive $6,000 from customers for services provided in 2021.

Bank $6,000 (debit)

Trade Receivables $6,000 (credit)

Journal 6 :September 13, 2022 Write off the remaining amounts owed from services provided in 2021.

Bad Debts $3,000 (debit)

Trade Receivables $3,000 (credit)

(26,000-17,000-6,000)

Journal 7 :October 5, 2022 Receive $35,000 from customers for services provided in 2022

Bank $35,000 (debit)

Trade Receivables $35,000 (credit)

Journal 8 :December 31, 2022 Estimate that 20% of uncollected accounts will not be received.

Profit and Loss $800 (debit)

Allowance for Doubtful Debts $800 (credit)

39,000-35,000×20% = 800

Explanation:

"Services to customers on account"

Recognise an Asset - Trade Receivables and also Recognise Revenue

"Receipt of Cash from Receivables"

Recognise the Assets of Cash and De-recognise the Trade Receivable

"Estimate of uncollected accounts"

Recognise an Expense in the Profit and Loss and recognise a Contra - Account Allowance for Doubtful Debts to De-recognise the Trade Receivables

8 0

3 years ago

The Ann Taylor chain of stores has a problem with ________ from its sister chain Ann Taylor LOFT, whose sales have surpassed the

Mamont248 [21]

The losing of sales by Ann Taylor in this scenario is known as cannibalization.

<h3>What is cannibalization?</h3>

It should be noted that cannibalization simply means the reduction of the sales of a company.

This reduction simply occurs when the company introduces another similar product just as illustrated by Ann Taylor.

Learn more about sales on:

brainly.com/question/9437038

7 0

3 years ago

Reasons as to why we carry out stovk taking<br>

Schach [20]

Answer:

The importance of stocktaking is clear. It allows you to regularly monitor and increase gross profit, reduce loss, improve control of allowances, and reduce waste

Explanation:

5 0

3 years ago

Read 2 more answers

Suppose that Home has 20% of the world's capital, 10% of the world's skilled labor, and 30% of the world's unskilled labor and p

zimovet [89]

Answer and Explanation:

Home country has 20% of the world's capital , 10% of the world's skilled labor and 20% of the world's GDP. This means that the GDP of the home country is proportional to its capital possession. As GDP is more dependent on its capital input and less on labor input, home country can be said to be capital intensive

8 0

4 years ago