Goods is a very wide term in economics and they can be any product or resource that has utility to a user or consumer. From an accounting perspective, however, goods typically include raw materials and supplies used in the...
Read MoreThe house owner hired an estate agent to appraise the value of his home. He was shocked when the agent apprised him that due to COVID crisis the value of his estate had fallen. The words ‘appraise’ and ‘apprise’ can be mistaken...
Read MoreAs he woke up from his siesta, the caring husband realized that his wife still wasn’t home so he presumed she must be busy at work. The wife who was a little self-centered assumed that her husband did not care about her because...
Read MoreThe college administration decided to form a council of students to sort small matters and bridge the gap between students and teachers. Teachers were directed to counsel the council members on how to perform their duty. The...
Read MoreGenerating revenue is essentially the key business activity because without sufficient revenue an entity would not earn enough profit and thuse would not be able to fulfill its commercial objectives. Sale of products is...
Read More