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the sole purpose of a business is to generate a profit/make money.
Legally business can be broken into 'for profit' vs. 'non profit'.
for profit - shareholders value/profit, earnings, making a buck. If a business is not generating profit, it will cease to exist as a business.
'non profit' - not driven by ownership rather managed around central problem/purpose.
for profit companies are owned by shareholders. shareholders can act 'hostile' and acquire as many shares as they can afford to purchase. (i.e. one person could control the majority voting interests). shareholders hire an executive director/president. some times they approve specific budgets/strategic plans.
non profits are managed ('owned') by membership, with no threat of hostile take over as all memberships (regardless of dollar value) carry the same weight in voting interests.
A business is an entity able to make/buy/sign contracts, carry credit, and a like. Most Security of States will issue a Certificate when a business is incorporated (created, born). The IRS will give you a free EIN which will be 10 digits long. the certificate looks similar to a birth certificate, the EIN to a Social Security Number).
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What is the primary goal of the business?
Profit earning
What are primary and secondary objectives of a business?
The primary objective of any business are the long term goals that are set. The secondary objective of a business is the meeting the preset set daily goals that will keep the company running.
What activity involves collecting funds to support the business?
financing
What is primary business address?
The address of place of business where business is conducted and in case of business is conducted at many places the address where the head office of business is located.
Why business is an economic activities?
Firstly, it's very much important to be aware about the term business which is signified as an organization involved in the trade of goods, services, or both to consumers. It may be owned by multiple individuals and may be referred as a company. It may also be a non-profit or state owned business that can be signified as in the form of the economic activity as it is related to production, distribution, exchange and consumption of goods and services.The primary aim of any business activity is the production of goods and service and to move them from the place of production to the place of consumption.In other words, business as an economic activity are those efforts which are undertaken by the employees for the purpose of earning maximum profit by increasing productivity and ultimately resulting into the increment in the sales volume of the organization.
Is rent expense an other expense?
If rent is paid for any activity which is directly related with the primary business activity then rent is not other expense, but if rent is paid for activity which is not directly related to primary business activity then it is other expense.
Give the type of business activity?
Primary sector secondary sector tertiary sector
What is the primary classification of business activity for the Maryland region?
agriculture and miningfinancial businessmanufacturersreal estateretailers and distributorsservice businessestransportationutilities
What is nature of business?
According to "Business is an enterprise engaged in the production & distribution of goods for sale in a market or the rendering of services for a price. L.R. Dicksee, "Business is a form of activity pursued primary with the object of earning profits for the benefit of those on whose behalf the activity is conducted".
Nature of business in the Philippines?
According to "Business is an enterprise engaged in the production & distribution of goods for sale in a market or the rendering of services for a price. L.R. Dicksee, "Business is a form of activity pursued primary with the object of earning profits for the benefit of those on whose behalf the activity is conducted".
Which activity is a primary economic activity?
susbsistance farming
Why has decline in the primary sector?
mining is a primary activity
What is the primary economic activity of the outback?
The primary economic activity of the outback is agriculture, both livestock and crops.
Define what is a business activity?
Business activity refers to transactions that move the business forward. Sales, customer service and shipping products are all aspects of business activity.
Is a florist a primary business?
Yes florist is the primary business.
Why is owner of a business is interested in the activity of a business?
The activity of the business is what generates money for the business and the owner will want to maximize income.
Why has mining declined in the primary sector?
mining is a primary activity
