what are the three main financial needs of business

Q: How does accounting provide useful information about economic activities?

A: Whenever a company wants to make decisions that include money that decision comes under the economic…

Q: Explain what a business transaction is and provide two examples of a business transaction affecting…

A: Accounting equations are on the basis of the dual aspect concept of accounting. It means that every…

Q: Are financial statements accurate to evaluate business?

A: Financial statements refer to the written records that tell the financial performance and position…

Q: three forms of business organization

A: Business is conducted by the owner in order to earn profit. The business is the activity that…

Q: Going from general to specific, what are the three primaryobjectives of financial accounting…

A: Financial Accounting is the process by which an organization's revenue, receivables and expenses are…

Q: What is accounting? Explain FOUR functions of accounting

A: Accounting plays an important role for managers to analyze the financial resources of the company.

Q: What is a Balance Sheet and why is it important in a business?

A: Balance Sheet is a financial statements prepared for assessing the financial position of a company.…

Q: What are the three primary forms of business organization? Name them.

A: There are three main types of business organizations: Sole Proprietorship, Partnership and…

Q: Explain the Financial Status for Businesses?

A: Financial status  It indicates the income level under which categorization of business is done for…

Q: Which one of the following is a characteristic of a valid business transaction? It is an event…

A: Business transaction is an event with an external party and that needs to be recorded in accounting.…

Q: What is the purpose of financial accounting? List at least three and explain why they are…

A: Introduction: Accounting is concerned mainly with recognizing, documenting, measuring, and…

Q: If you were assessing the value of a business which two factors would you take into account and in…

A: In management, business value is an informal word that encompasses all types of value that influence…

Q: What is the importance of financial statements in business? Mention what each financial statement…

A: Financial statements are imperative since they contain imperative data around the monetary wellbeing…

Q: The resources owned by a business are called:A. assets.B. liabilities.C. the accounting equation.D.…

A: To run a business many type of resources are needed. These can be in form of cash or in form of…

Q: Explain the following four Financial Statements as it relates to the Management of a Small and…

A: Financial statements includes all such statements which provides all necessary financial information…

Q: Write examples of each kind of business activity: (a) operating, (b) investing, and (c) financing.

A: Cash flow statement is a statement which is prepared to find out the cash comes in and goes out , by…

Q: Explain the following four Financial Statements as it relates to the Management of a Small and…

A: Introduction: Accounting: Accounting is an art of recording , classifying , summarizing and…

Q: economic

A: There are different factors affecting financial activities such as economic, political, etc.…

Q: Name and briefly explain the three major financial statements?  How does each relate to the…

A: The statement that reveals the financial activities of a business along with its financial…

Q: Which of the following types of businesses require financial information to operate effectively?

A: The following types of businesses require financial information to operate effectively are:(1)…

Q: What are the goals of financial accounting? Enumerate at least three and discuss why they are…

A: Accounting is primarily concerned with identifying, recording, measuring, summarizing transactions…

Q: sound financial management is the key to the prosperity of the business. Explain briefly any three…

A: Introduction: The corporate activity of using current financial resources to increase business…

Q: Identify and discuss the two key financial objectives of a business

A: The accounting is the process to identify and record the financial transactions of the business.

Q: What are the three basic forms of business organization?

A: Business organization refers to a entity which formed legally to carry on a business of…

Q: Describe the three major business activities in organizations.

A:

Q: One among the following are economic activities or events in the business that can be measured in…

A: The business report shows the information of the different activities. and financial information of…

Q: hat are the three types of financial management decisions? For each type of decision give an example…

A: In financial management there basically three decision in response to financial objective of wealth…

Q: Which one of the following elements of financial statement helps in understanding the financial…

A: Financial performance is a subjective indicator of a company’s ability to earn revenue from its…

Q: What are the three basic business activities that financial accounting seeks to measure and…

A:

Q: What is financial system? Explain the 3 functions of financial system?

A: Financial system is said to be a network of institutions, such as, insurance companies, banks,…

Q: Define the business finance and explain its function

A: Business Finance: Business Finance has the responsibility for the allocation of resources, producing…

Q: What are the three types of financial management decisions? For each type of decision, give an…

A: Capital budgeting decision: Capital budgeting decision is a decision concerned with the selection of…

Q: What are the two essential indicators of a business?

A: The question is based on the concept of indicators of a business. Setting and investigating…

Q: Identify the three common forms of business organization and the primary difference between the way…

A: Three common forms of business organization are:Sole proprietorship: It is one form of simple…

Q: Which of the following gives the details about the financial position of the business?

A: Finance - This is related to the Financing activities which includes borrowing money from the bank…

Q: What are three questions business owners and managers can answer by looking at accounting…

A: Management and other stakeholders such as suppliers form their financial decisions based on the…

Q: Describe the three major types of business organizations and how

A: Answer:Three main types of Business organizations are as follows:Sole Proprietorship: This business…

Q: what is the different information on the financial statement that will help you understand the…

A: In order to determine the financial position of the company, a financial statement is essential. It…