Main purpose of the business
Briefly describe the main purpose of the business?
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The major purpose of business is to make and keep a customer. The customer has always given the main source of revenue for a business; this has frequently been taken for granted. In the past, too many businesses have supposed that the customer would eagerly accept whatever services or products were on offer. When competition was weak and customers were passive, businesses could operate beneath this supposition and still make gain. Though, the era of weak competition has passed. Nowadays, customers have much greater choice and are much more assertive concerning their requirements. They demand higher quality goods and services at lower prices. They as well need that services and goods be delivered quicker with rising accent on the product being adapted to their individual requirements. If a business can’t meet such needs, a competitor business often can.
Unit Cost: The cost of a chosen unit of a good or service. Illustrations comprise dollar cost perton, machine hour, labor hour, and department hour.
Write a brief note on the things which Opportunities comprises?
Estimated Cost: The procedure of projecting a future outcome in terms of cost, based on information accessible at the time. The estimated costs, instead of actual costs, are at times the basis for credits to work-in-process accounts a
Activity-Based Costing: It is a cost accounting process that measures the cost and performance of process related activities and cost objects. It assigns cost to cost objects, like products or customers, based on their utilization of
Partnership Accounting: A business can be a firm, a partnership, or a solitary proprietorship. The corporation is incorporated at state level. The sole proprietorship is one person in business. A partnership is two or more than two persons with an agr
What is the maximum and minimum number of partners in each and every type of partnership? Answer: There must be at least two persons to build a Partnership. The maxi
Employee Stock Ownership: It is a qualified, defined contribution, employee benefit (that is, ERISA) plan designed to invest mainly in the stock of sponsoring employer. ESOPs are "qualified" in the logic that the ESOP's sponsoring company, the selling
Fixed Cost: The cost which does not differ in the short term with the volume of action. Fixed cost information is helpful for cost savings by regulating existing capacity, or by removing idle facilities. Also termed as Non-Variable Cost or the Constan
Support Costs: Costs of activities are not directly related with the production. Typical illustrations are the costs of automation support, postage, communications, process engineering, and purchasing.
Write down a brief note on the illustrations of unethical and unacceptable actions?
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