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What else can I help you with?
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.
How can one determine and calculate economic profit in a business?
To determine economic profit in a business, subtract total costs (including both explicit and implicit costs) from total revenue. Economic profit is calculated by subtracting all costs, including opportunity costs, from total revenue.
How many sectors are there in economic activity?
Economic activity refers to all transaction between individuals/groups and countries make as well as investments/savings and consumption of those transactions. Therefore, there are literally billions of economic activity going on around the world. If you buy a cabbage in the supermarket, that's an economic activity If you put your money into a bank, that's an economic activity
What major economic events happened between the years 1997-1998?
all I can say is the Asian financial crisis in 1997
What term summarises transactions involving a country's international exchange of goods services and income?
The term that summarizes transactions involving a country's international exchange of goods, services, and income is "balance of payments." This financial statement records all economic transactions between residents of a country and the rest of the world over a specific period, including trade in goods and services, investment income, and transfers. The balance of payments helps assess a country's economic position and financial stability in the global economy.
The difference between event and transaction and why?
transactions is exchange of an asset with consideration of money value while events is any thing in general purpose which occur at specific time and particular place. all transactions are events but not events are transactions. this is due that in order events to be called transactions must involve exchange of values
What is meant by business intity concept?
Business intity concept is all transactions that affect the firm. The business intitly does not affect the ownerÕs private transactions and will be recorded.
Why there is a need to keep a written record of all business transactions?
secret
What is the process of assigning a monetary value to all business transactions?
Valuation
What are the benefits of an accounting policy manual?
Accounting policy manual makes sure that all business transactions are recorded in same way and all related transactions are provided in same code of account and accuracy of transactions is also assured.
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 the Philippine accountant considers peso as the common unit of measure for all business transactions?
The Philippine accountant considers peso as the common unit of measure for all business transactions. There are rare times that the US dollar is also used.
What is The process of conducting business worldwide is a part of .?
The process of conducting business worldwide is a part of international business. This encompasses all commercial transactions that occur between individuals or organizations from different countries, including trade, investments, and services. It involves navigating various factors such as cultural differences, legal regulations, and economic environments to successfully operate across borders. International business plays a crucial role in global economic integration and development.
Is it the Philippine accountant considers peso as the common unit of measure for all business transactions?
Yes
How can I use my personal bank account for business transactions?
Using your personal bank account for business transactions can be done by keeping detailed records of all business-related transactions, separating personal and business expenses, and being transparent with your accountant or tax advisor. However, it is generally recommended to open a separate business bank account to maintain clear financial boundaries and simplify accounting processes.
What is the purpose of the financial department?
To keep record of the financial transactions of a business. that is all now go away
Does domestic macro economic environment effect all business segment alike?
No, the domestic macro economic environment doesn't impact each business the same way. Since businesses have different business models, the results of the macro economic environment depends on the business.
