Business term as part of our Accounting
"Business term is the part of our Accounting". Illustrate this statement.
Expert
Business term is the part of our Accounting. We can state business with the following way:
Business is all actions whose purpose is to earn money. A teacher teaches his own son or daughter is not business since he is not teaching his child for the aim of earning money. However similar teacher executes his private coaching center for offering coaching services. This coaching center is his business since he wants to earn money from that coaching center. He takes risk of his investment and as well interested to acquire high return on his investment.
For doing business, businessman has to give services or goods to customers. After taking risk, doing hard-work and giving goods or services, businessman gets return in the form of gain. However it is his risk. At time, he can too suffer loss in such activities.
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The following information is taken from the financial statements of an entity: 20x4 20x3 Property, plant and equipment $4,600,000 $4,200,000 Accumulated depreciation (1,800,000) (1,350,000) Depreciation expense 560,000 Gain on disposal of PPE 65,000 The asset disposed of had a cost
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Calculation of weighted average cost of capital: Under this following steps are undertaken: 1. Record amount in respect of various long term resources of firm. 2. Add up the amo
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