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LoginAccountancy Secondary School in Accountancy 11 months ago
omic activity: Business is an economic activity of production and distribution of goods and services. It provides employment OPPORTUNITIES in different sectors like banking, insurance, transport, industries, trade etc. it is an economic activity corned with creation of utilities for the satisfaction of human wants.2. Buying and Selling: The basic activity of any business is trading. The business involves buying of raw material, plants and machinery, stationary, property etc. On the other hand, it sells the finished products to the consumers, wholesaler, retailer etc. Business makes available various goods and services to the different sections of the society.3. Continuous process: Business is not a SINGLE time activity. It is a continuous process of production and distribution of goods and services. A single transaction of trade cannot be TERMED as a business. A business should be conducted regularly in order to grow and gain regular returns.4. Profit Motive: Profit is an indicator of success and failure of business. It is the difference between income and expenses of the business. The primary goal of a business is usually to obtain the highest possible level of profit through the production and SALE of goods and services. It is a return on investment. Profit ACTS as a driving force behind all business activities.
Posted on 08 Oct 2024, this text provides information on Accountancy related to Secondary School in Accountancy. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.
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