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Businesses need accounts to control the money of the business.
For example, from the Financial Statement (Profit and Loss Statement, Owners Equity Statement, Balance Sheet, Cash Flow) the manager can see the strength and weaknesses of the business. Whether the business has a lot of debtors (account receivable) or creditors (account payable).
It is also important to plan for the business such as whether it is need to be expand or not. The decision can be make by knowing how much capital or cash that the business have.
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Why do businesses prepare control accounts?
don't know and what control of accounts do you need in a business
Why do we need financial accounts?
businesses need financial accounts so as to keep track of all their transactions,check progress(profits &losses) and to make decisons
Do you have to be in business to have hsbc business internet banking?
HSBC Business Internet Banking has accounts for people with businesses but they also offer accounts for people without businesses. Personal accounts and business accounts.
Do most businesses periodically remove bad accounts from their books?
True
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Popular businesses do not have to make their accounts open to the public if they are privately held, but publicly traded companies do. This allows investors to evaluate whether to invest in a firm or not.
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Trading accounts are used by businesses to manage their financial affairs and to keep the money all accountable and traceable. The use of them means that auditing accounts is easy.
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There is no direct taxation so they have developed into a thriving offshore financial center.
What are the new marketing realities and practices?
Marketing has changed a lot over the years. The new ways businesses market involve social media. It is now a common practice and reality for businesses to have websites, Facebook accounts, and Twitter accounts.
IS IT TRUE OR FALSE THAT Most businesses periodically remove bad accounts from their books?
false
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The purpose of the chart of accounts is so that the correct account is used within the accounting system of a business. Certain businesses may have different names for cash, capital, and other accounts.
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Businesses need people so they can sell their stuff and make money.Or they need people to work for them.
