A Money Service Business is a non-depository and non-lending institution, whilst a Bank is allowed to retain customer deposits and is allowed to do commercial lending based on that money.
The term "money services business" includes any person doing business, whether or not on a regular basis or as an organized business concern, in one or more of the following capacities:
(1) Currency dealer or exchanger.
(2) Check casher.
(3) Issuer of traveler's checks, money orders or stored value.
(4) Seller or redeemer of traveler's checks, money orders or stored value.
(5) Money transmitter.
(6) U.S. Postal Service.
No activity threshold applies to the definition of money transmitter. Thus, a person who engages as a business in the transfer of funds is an MSB as a money transmitter.
Revenue is all the money a business brings in. Net income is revenue minus all the expenses of the business. Net income is profit.
Cash is liquid asset - it is the money we received not what we are promised for . Cash can also flow out of business while profit is earned by business and is represented on paper ( in the accounts ) .
A partner loan is money borrowed by a partner from the partnership, which needs to be paid back with interest. A capital contribution is money or assets invested by a partner into the business, which becomes part of the partnership's equity.
Capital icome is the money invested by the owners or other investors that is used to set up a business or buy additional equipment.when setting up a busniess , capital income might also be used to buy opening stock, but as the business develops, stock should be paid for by sales income (revenu income) Revenue income is the money that comes into the business from performing its day-to-day-function - selling goods or providing a service
:)Am beginning with a smile because i asked the same question to my business teacher when i was in form 4 and i will answer you exactly as she answered me.The difference between business (transaction) and business organization can be understood by defining business and an organization.A business - is a process of going into a transaction with a customer (either buyer or business partner), to purchase your good or services. it can also be defined as an exchange that occurs between a manufacturers and customer, where the manufacturer provides the customer with goods or services in return for the customer's money (value of goods or services sold).An organization - is an established entity, with the sole purpose of selling good and services, or serving as a distribution network for goods and services.therefore, the difference between business and business organization is that, business is the process of engaging in transaction or negotiating a deal of exchange between a customer (either individual or company) and seller (either individual or company), while a business organization is an a firm established for the sole purpose of undertaking a business activity.so business is an exchange or transaction between a customer and seller, while business organization is a firm that sell business (goods or services) to people.
Profit is what you made after the costs of material for a product or labor for a service. Could be you sold a product or service. Profitability is what you could make. Is that there is a need that needs to be filled or replaced and you can make money doing it.The difference is very important when your planning out location of business, target market, labor any expenses that go into the product or service Or even what your company wants to provide.A business that is not making profit will eventually run out of money and go out of business.
profit
job is doing for a money not a passion but service define your passion, courage, braveness.
Kgb costs money. ChaCha is a free service. :)
Business is the organization which accumulates labor and capital in such a way that some product or service is created that can be exchanged either for other such productions or an intermediary (such as money or credit). Labor refers to human capital that is "put to work."
The term nonprofit or not-for-profit does not mean there is no money in the organization, in fact most organizations deal with very large amounts of money flowing through out the organization. In fact when you look at the difference between how a NPO's money is handled and how a for profit enterprise handles their money you will see that the only difference is that there are no stock holders and the money is generally donated to NPO's and earned by for-profits.
Commercial: a commercial service is where its main intention is to make money e.g McDonalds. Service: where things such as cafeterias are supplied and not for making money e.g. a hospital cafeteria or a prison cafteria
A venture capitalist invests the money to fund the entrepreneur. The entrepreneur is typically the person with the idea and the business plan, but they often don't have the money to start the business to carry out their idea.
Revenue is all the money a business brings in. Net income is revenue minus all the expenses of the business. Net income is profit.
Accountant keeps track of business records, Controller decides where money should be spent.
Cash is liquid asset - it is the money we received not what we are promised for . Cash can also flow out of business while profit is earned by business and is represented on paper ( in the accounts ) .
Direct sale is nothing but exchange of product with money but retail is deals also with service!!