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KengaRu [80]
2 years ago
5

1.What is business? Explain its characteristics.​

Business
1 answer:
jek_recluse [69]2 years ago
8 0

Answer:

Business is an organization where goods and services are exchanged for one another or for money to make a profit, every business needs some form of investment and enough customers to sell product to.

the major characteristics are:

1. Exchange of goods and services

2. Deals in numerous transactions

3. Profit is the main objective

4. Business skills  for economic success

5. risks and uncertainties

6. marketing and Distribution of goods

7. Sale to satisfy human wants

Explanation:

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Answer and Explanation:

The Journal entries are shown below:-

Interest expense Dr, $316,800

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Here we debited the interest expenses and premium on bonds as it increased the expenses and we credited the interest payable as it also increased the liabilities

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Hope this helps, HAVE A BLESSED AND WONDERFUL DAY! As well as a great Valentines Day! :-)  

- Cutiepatutie ☺❀❤

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