A leader of a nonprofit organization is designing a new type of water purification system to improve living conditions for poor children. Which type of entrepreneurship is the leader demonstrating?
A. private
B. public
C. health
D. social
D. social
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Why is the time period assumption required?
a. Inflation exists b. External users of financial statements want statements that accurately reflect net income or earnings for a specific time period. c. The dollar is the monetary unit in the United States. d. The federal government requires it.
The term cash includes
A) coins, currency (paper money), checks B) money orders, and money on deposit that is available for unrestricted withdrawal C) short-term receivables D) both a and b
Facilitating goods, as part of a goods–service, include which of the following?
a. Bank building b. Transportation c. Convenience d. Food in a restaurant
An accountant buys a supply of pencils to be used in calculating the taxes of other business firms. Based on this information, pencils in this case would be considered what type of product?
A. Business B. Process materials C. Raw material D. Convenience E. Consumer