All commercial companies operate primarily to earn profits for their owners. In a company structure, the owners are in the form of shareholders. They can be as little as two in a private company and as many as hundreds and...
Read MoreGoods 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 MoreTrade transactions in commercial entities, especially those of high volume and high value, often take place on credit basis. Sellers extend credit period to their customers, allowing them a specified time period to make payment...
Read MoreIn commercial businesses, sales and purchases of goods and services are among the most frequent transactions. The larger the business, the higher the volume and value of such transactions. While small-value retail transactions...
Read MoreThe capital and drawings are both well known and generously used terms within the business world. However, they are often misunderstood by those with less familiarity to business terms and concepts. Every business, be it a...
Read More