answersLogoWhite

0

The generally accepted accounting practice (GAAP) is followed. However when the business is too small, they practice cost accounting system or maintain rough accounts by themselves.

User Avatar

Wiki User

11y ago

What else can I help you with?

Continue Learning about Economics

What is the contribution of Raw Materials Research and development Council to the promotion and advancing of small scale business in Nigeria?

The Raw Materials Research and Development Council (RMRDC) in Nigeria plays a crucial role in promoting and advancing small-scale businesses by providing access to essential raw materials, technical support, and research services. It facilitates the development of local industries by encouraging the use of indigenous resources, thereby reducing dependence on imports. Additionally, RMRDC offers training programs and workshops to enhance the skills of entrepreneurs, fostering innovation and competitiveness in the small-scale sector. Through these initiatives, the council significantly contributes to the sustainable growth of small businesses in Nigeria.


The impact on small scale business in Nigeria economic?

The impact of small scale business in nigeria economic are much to the extend that a word can not describe it no matter how you want to classify it.The impact has created a lot of business to nigeria system, for instance, MTN Nigeria has contributed and invested much into the economy.


What are the concept of small scale business in Nigeria?

please answer the question


Disadvantages of small scale retail trade in Nigeria?

Small scale retail trade in Nigeria has been responsible for the lack of large scale investment which can lead to export promotion. In small scale retail, most people settle for imports and the sales of items similar to other global competitors.


Why is the Marginal cost curve U shaped?

because sophie went to Nigeria

Related Questions

Definition of small scale business in nigeria?

A small scale business in Nigeria is one that doesn't do as much business as a market leader. Typically, these businesses are locally owned businesses.


What are the roles of small scale businesses in the transformation agenda of the nigeria government?

To create employment To improve the standard of living of its citizen To provide innovation


What are the importance of accounting information in small scale enterprise?

what are the importance of accounting information in small scale enterprise.


How does government policy affect small and medium scale enterprises in Nigeria?

How does government policy affect small and medium scale enterprises in Nigeria


Which is most profitable small scale industry?

The most profitable small scale industry will vary from one region to another. Some of the common small scale businesses that are quite profitable include stationeries, export business, law firms, accounting services and health specialists.


What is the contribution of Raw Materials Research and development Council to the promotion and advancing of small scale business in Nigeria?

The Raw Materials Research and Development Council (RMRDC) in Nigeria plays a crucial role in promoting and advancing small-scale businesses by providing access to essential raw materials, technical support, and research services. It facilitates the development of local industries by encouraging the use of indigenous resources, thereby reducing dependence on imports. Additionally, RMRDC offers training programs and workshops to enhance the skills of entrepreneurs, fostering innovation and competitiveness in the small-scale sector. Through these initiatives, the council significantly contributes to the sustainable growth of small businesses in Nigeria.


Sources of finance for small scale business in nigeria?

sources of finance to small scale business


What are the Advantages of large scale industry in Nigeria?

In large scale industry the goodes will get in cheap rate


Important of smoll scale business in nigeria?

Examples of the small scale business in Nigeria includes the fresh fruit business, the food supply business, the retail shop business, and the carpet cleaning business. The other important small scale business in Nigeria includes web designing and forex trading.


The impact on small scale business in Nigeria economic?

The impact of small scale business in nigeria economic are much to the extend that a word can not describe it no matter how you want to classify it.The impact has created a lot of business to nigeria system, for instance, MTN Nigeria has contributed and invested much into the economy.


What are the concept of small scale business in Nigeria?

please answer the question


What is the most lucrative small scale business in Nigeria?

they varies