The process to identify potential events that may affect the entity, and manage risk to be within its risk appetite, to provide reasonable assurance regarding the achievement of entity objectives is called risk assessment.
An entity refers to someone or enterprise owning separate and wonderful prison rights, inclusive of an individual, partnership, or organization. An entity can, amongst different things, personal assets, engage in enterprise, enter into contracts, pay taxes, sue, and be sued.
The entity name is the call used by an enterprise to enter into contracts and make other criminal or administrative commitments. alternatively, the business name is the name your commercial enterprise operates under and shares with its clients, customers, and employees.
That which has a wonderful life as an individual unit. often used for businesses that have no physical shape. An existent something that has the houses of being actual, and having an actual lifestyle.
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Answer: Line of credit
Explanation:
The line of credit is one of the facility of the credit that is specifically provided by the bank and the other finance institute to the company and the government.
The main purpose of the line of credit is that it basically allow the borrowing process at the time of customer funds requirement.
According to the given question, the line of credit is one of the type of agreement where the small business borrow the needed amount from the bank or any institute. Therefore, Line of credit is the correct answer.
Answer:
the freedom for individuals to choose businesses, the right to private property, profits as an incentive, competition, and consumer sovereignty.
Explanation:
Statistics are used to describe the basic characteristics of study populations and other data sources.
Answer:
The net operating income increases by $11,000.
Explanation:
Data provided
Sales 3,000 units
Sales Price $70 per unit
Variable Cost $50 per unit
Fixed Cost $25,000
We can calculate the contribution margin as:
Contribution margin = sales price - variable cost = (70-50) = 20
The net operating income can be defined as:
According to the changes proposed in the problem
Contribution margin = 20 * (1+0.1) = 22
Fixed cost = 25,000 * (1-0.2) = 20,000
The new net operating income is:
Then
With these changes, the net operating income increases by $11,000.
