Identify any five important points for Studying the concept of Business Law.

Q: Identify three types of services typically offered by accounting professionals.

A: Introduction: Accounting is considered as a language which is used for communicating to persons…

Q: Explain the relevance of law to accountants in their capacity as business owners. Include any…

A: The importance of the role of professional accountants in business in ensuring the quality of…

Q: Briefly describe the two major fields of accounting.

A: Accounting: Accounting is the process of recording, summarizing, and examining the business events…

Q: Accounting information should have some qualitative characteristics in order to facilitate efficient…

A: Accounting information: Accounting is the process to record, analyze, summarize, and interpret…

Q: What are the three principal forms of business organization? What are theadvantages and…

A: Answer: The three major forms of business organizations are: 1) Sole proprietorship 2) Partnership…

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: What three roles are played by accountants with respect to the information system?

A: Accounting information System:   It is a system adopted by an organization to store and process the…

Q: Discuss the principal factors to consider in selecting a form of businessorganization.

A: There are many business forms such as sole proprietorship, limited liability, partnership,…

Q: Which of the following factors should influence business and accounting decisions?a. Economicb.…

A: Accounting: Accounting is a system, or a process of collecting and organizing economic transactions,…

Q: Explain the three principles guiding thedesign of management accounting systems.

A: Management accounting: It is the process of preparing the reports of a business operation helping…

Q: What is the so-called BUSINESS JUDGMENT RULE? Discuss

A: Business Judgment Rule:- The business judgment rule is a presumption that in creating a business…

Q: Identify each of the following terms/phrases as either an accounting (a) principle, (b)…

A: Accounting assumption: These are the accounting practices or principles which are considered to be…

Q: Describe the three major types of business structures and give some pros and cons of each structure.

A: Business organization: Business organization can be defined as an entity established by one or more…

Q: The business research process involves a series of steps that systematically investigate a problem…

A: Business research process involves steps to investigate a problem or opportunity to a business. The…

Q: Describe the five key forces to consider when analyzing an industry.

A:

Q: prudence concept a

A: Prudence concept is a fundamental accounting concept.

Q: Which of the following is one of the four major categories that define the business market? O a.…

A: A business market is such where people are allowed to do business by performing economic activities…

Q: Explain the three broad areas in which the Financial Manager must make decisions

A: Financial management refers to the efficient acquisition, allocation and usage of funds of the…

Q: The rules that govern management and legal issues of a business are called A. ordinances B. bylaws…

A: Introduction: Business law, also known as commercial law or mercantile law, is a system of rules…

Q: The importance of research on accountancy and business

A: Accounting is the process of recording the monetary transactions and prepare the financial…

Q: What are the five fundamental principles of accounting information systems?

A: Accounting information systems collect data from different events and associated transactions across…

Q: A business opportunity must be identified and analyzed

A: It is possible to comprehend business opportunities by analyzing their meaning, aims, and different…

Q: Explain the importance of a business report.

A: A business report is a report or a document which is essentially includes an array of data and…

Q: What distinguishes accounting and business administration from each other?

A: Despite the fact that business administration and accounting are closely related, they have distinct…

Q: Describe the similarities and differences among the four different types of business entities…

A: Business entity: A business organization which is created by one or more persons and governed by…

Q: List and describe three types of action that a firm’s stockholders can take to manage the modern…

A: Modern Agency problems arise when the act of agency are not in the best interest in regards to the…

Q: hematics

A: Given: To explain the business math's five objectives as,

Q: Describe all the segments of business plan?

A: Business plan is the blueprint which defines the strategies, nature and operating activities that…

Q: g and business adminis

A: Accounting: It is the process of recording any financial transactions incurred in the financial year…

Q: t is business law

A: Business Law: Business law is also referred to as mercantile law or the commercial law. It refers to…

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 various forms of business organization? What are the advantages and disadvantages of…

A:

Q: Identify each of the following terms/phrases as either an accounting (a) principle, (b) assumption,…

A: Principles are the rule made for every business.

Q: Question 4 a. Business decisions rely on certain characteristics which are based on intelligent and…

A: Introduction: A business decision, also defined as an operational decision, is that any choice made…

Q: Give an example of how cardinality relates to business policy.

A:

Q: Briefly explain the overall objective of a financial manager.  Include in your response any one of…

A: The overall objective of a financial manager is: Profit maximization Wealth maximization Creating…

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

A:

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: Explain the importance to understanding the business operation flow.

A: Definition:   Business: Business can be defined as a work that includes exchange or production of…

Q: As a business professional what are the different types of information are required at various…

A: The question is based on the concept of decision making and level of information needed for decision…

Computerized Accounting System

The Computerized Accounting System is generally a system of maintaining accounts using computers. In this method of accounting system, the accounting transactions are processed through the use of hardware and software to generate the reports such as journals, ledgers, trial balance, trading account, P/L accounts, balance and other reports.