I think what you're saying is that accounting is necessary to keep the company's books and records straight ... but auditing is a luxury as it is just validation of the accounting (as well as some other checks around fraud, internal controls, etc.)
accountancy is necessity. it may be treated as a necessity because of the following reason. it helps us to know if the firm is suffering from loss or profit, any small firm can get take the help of a person having knowledge of accountancy and does not have to pay large amount it helps us to know the real position of the business auditing as luxury whereas to get our accounts audited we have to pay good amount of money to auditor . only those firm whose transaction are in large amount can bear the cost of auditing it is also a waste of time for small business because it involves at alot of time more over employees efficiency are decreased because even for small things they are called and questioned about those things azmat(9852419025)
Luxury products are elastic, in comparison to necessity products which are inelastic. Luxury goods are elastic because for a change in price there is a more than proportionate change in quantity. e.g. If the price of a luxury good increases, less people will purchase the good because it is not necessary in their lives - they can do without it.
No, the noun luxury is a common noun, a word for any luxury of any kind.A proper noun is the name of a person, place, thing, or a title; for example:Luxury Street, Moreno Valley, CALuxury Circle, Jackson, NJLuxury Drive, Concord, CALuxury Row (designer shops), Honolulu, HI"Luxury Liner", 1948 movie starring Jane Powell"Deluxe: How Luxury Lost Its Lustre" by Dana Thomas
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