Answer: Amounts owed to suppliers for products and/or services purchased on credit.
Explanation: Account payable as a liability arises on account of credit purchases and therefore, are amounts owed to suppliers for products and/or services purchased on credit. While accounts payable can be either a short-term or a long-term liability based on the duration available to pay the same, they are typically paid within thirty or sixty days which makes them current liabilities. However, the duration of credit that is available to companies making such purchases are based on both the credibility of such companies, the history of past purchases and how timely they repay their debts.
Answer:
Sole proprietorship
Explanation:
The sole proprietor is a single owner of a business. He bears the loss of From the business alone and also enjoys gains from the business alone. There is no distinction between the business and it's owner. Such a business is easy to form and dismantle because the government has no involvement in it.
From the question since Andrews business was dissolved when he because there was no plan for control after his death, this signifies a sole proprietorship.
<span>The goal is, of course, the consumer's need, desire or demand for the product. This is one of the "what" questions of economics. What to produce, when to produce, for whom to produce etc. Producers need to first understand what consumers want, their needs and desire, then produce the product, they would have to convince them to buy the product. Understanding consumer's needs/ wants is very important. Good product wrong audience wouldn't make a sale. Bad product, wrong audience (some people may be bent on a product even if it's of inferior quality or there may have to settle for that because there's no other alternatives around ) would still make sales. The customer is king and the producer would do well to put that in mind.</span>
Start up businesses can rely on owners savings, borrowing from family members and friends, business angels and venture capitalists and bank loans are some of sources of funding used
Answer:
Business cycle
Explanation:
The business cycle also refers to as the rise and fall of economic activity through periods of expansion and recession.
