A profit-seeking commercial company that deals with money and credit?

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 breifely about the theories of accounting regulation – public interest theory, capture…

A: The four theories of accounting regulation are: Public interest theory, Capture theory, Economic…

Q: What is financial reporting and why it is important for business organisation?

A: Financial Reporting:   Financial reporting is the financial results of an organization that are…

Q: What is financial service corporation?

A: Financial services sector refer to the services provided by the finance market. Their role is mainly…

Q: what makes credit important to the business?

A: Credit can be the amount of money a business can borrow or can be termed as the ability of that…

Q: Explain different types of financial services with examples.

A: Answer 1: Types of financial services: Banking Banking service provides services like a savings…

Q: What is the impact of the credit and collection functions on the other parts of a business (or on…

A: Credit refers to the debt and loan that is provided by the company to others at a certain rate of…

Q: When it comes to financial accounting, what is the most important function?

A: The most important function of financial accounting is to provide financial statements to the users…

Q: What is profit, how is it earned? Explain its effect on businesses.

A: The income statement is prepared to find net income or losses incurred during the period. This is a…

Q: Why is Financial Status very essential for Businesses?

A: The Financial position definition of an organization's monetary prosperity status is significant for…

Q: w will accounting affect the stability of a business?”

A: Step 1 Accounting is important in running a company because it enables entity  to monitor revenue…

Q: What is accounting in business

A: Accounting: Accounting is the process of recording, summarizing, and reporting all the financial…

Q: How is finance related to other functional areas in a business organization (marketing, production,…

A: The question is based on the role of finance and its application in the business house. Finance is…

Q: 1. Besides earning a profit, what other objectives might a business have? How can Accounting play an…

A: Accounting: It can be defined as a process that helps companies to maintain their large numbers of…

Q: g known the major functionalities of the financial system how do they perform their roles in the…

A: Step 1 The financial system acts as an intermediary, which facilitates the transfer of funds from…

Q: What are the benefits of financial reporting?

A: Financial reporting is a detailed record of all corporate activities, including costs and profits,…

Q: What is an externality, and why do financial accounting practices typically ignore externalities?

A: Externality is the benefit or the cost caused through the producer that is not incurred financially…

Q: What account impacts the equity of a business?

A: The Equity of the business is effected by following accounts, with the transactions mentioned as…

Q: How do you value a business

A: In the world of finance, we often see that a business is being valued. The valuation might be done…

Q: Liabilities a. possess service potential. O b. are things of value used by the business in its…

A: Liabilities: A person or corporation may be said to have a liability if they owe anything to another…

Q: What is finance?  How does it relate to accounting?   What is the objective(s) of the financial…

A: Time value of money Time value of money The main concept of finance is related to the time value of…

Q: How does net income affect the operation of the business?

A: The bottom line of income statement is net income. It’s the outcome of sales and gains minus the…

Q: Why is treasury considered a profit centre. What are the revenues and expense

A: In finance profit center refers to that branch or division that adds, in a direct manner, to an…

Q: Why is financial planning an important business activity?

A: Financial planning is the process of understanding the financial needs of a business. It helps in…

Q: Why do you think providers of finance are interested in a company's accounting information?

A: Finance means a money management system like Borrowing money, investing money, expenses money,…

Q: Which of the following is related to conditions of credit? a. Competition b. Integrity c. Management…

A: Meaning of Credit -It is a term used in the contract that states a person provides a loan or advance…

Q: What is meant by “economic Consequences” in accounting standard-setting

A: Definition: Financial accounting standards board (FASB): This is the organization that creates,…

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: How does the accrual basis of accounting provide different results when compared with the cash…

A: Cash Basis of accounting- Under cash basis, accounting entries are recorded as and when there are…

Q: What is income statement in business finance

A: One of financial statements of company & shows company’s revenues & expenses during…

Q: Why Are Financial Accounting and Bookkeeping So Different?

A: The bookkeeping is recording the transactions and accounting is process to classify, record the…

Q: Why is financial information very important in business?

A: The importance of financial information an organization is given below as, Financial Information…

Q: What are financial accounting's two main functions?

A: The answer:

Q: what is professional judgement in financial accounting ?

A: Financial accounting is that branch of accounting which deals in recording of transactions,…

Q: What is your primary objective in choosing a company in which to invest money? What key items or…

A: Any person needs to clearly define their investment objectives before choosing their avenues of…

Q: What are the strategies of Accounting Theory?

A: It involves the assumptions that guides the reporting and recording.

Q: Is accrual accounting more closely related to a company’s goal of profitability or liquidity?

A: ACCRUAL CONCEPT - generally, the accrual concept recognizes revenue as and when it is accrued or…

Q: How do you find total sales in financial accounting?

A: Total sales in accounting: It refers to the net revenue of the organization that is reported in the…