Of paper for your answers.
Directions: IDENTIFICATION. Read and understand each statement carefully. Choose yo
inside the box. Write your answer on the space provided.
Unions Trade Magazines Technology
1. It is an excellent source of information about job vacancies, work
obligations and entitlements
2. It can be purchased from newsagents or obtained via subscription.
3. It helps food manufacturers to produce more efficiently for a growi
4. Learn new techniques and integrate fresh knowledge and
5. Public libraries and training institute libraries are a great source o
don't have to pay for.
The correct answer among the listed choices is letter b. Fixed Assets normally falls under the category of non-current assets since these assets not included in the current assets. Therefore, fixed assets will form part of non-current assets since these are long-term assets and not readily are convertible to cash.ASSETS
In accounting, assets are any resources with value owned by the business, company, entity or person. These are legally owned by the business or entity. Assets have two categories, these are:Current AssetsNon-current Assets1. Current Assets
-these are assets that can be readily convertible to cash in a normal operating cycle of a business. Normal operating cycle is within 1 year.Some Examples of Current AssetsCash and cash equivalentsAccounts ExpensesMarketable Securities/ Short-term Investments2. Non-current Assets
-these are long-term assets or long-term investments that have a longer useful life that is usually more than 1 year. Not easily convertible to cash.Some Examples of Non-Current AssetsLandProperty, Plant and EquipmentTrademarksLong-term InvestmentsGoodwillOther Assets
All fixed assets and intangible assets fall under the category of non-current assets.
Further related topics about assets and liabilities
What is the opposite of assets
For related topics about fundamental accounting equation
In accounting, prepayments are payments made in advance just like prepaid rents where the prepaid resource will be consumed later on by the business. It is usually classified as a current asset as most of prepayments are consumed within 1 year or the normal operating cycle of the business.
To know more about asset, just continue reading.Assets
In accounting, assets are the resources that a company owns and has monetary value.Two types of asset:
Current asset - assets that are usable or convertible to cash within a year or operating cycle of a business.Non-current asset - assets that can't be used or converted to cash within a year or operating cycle of a business.Examples of current asset:Cash and cash -on- of non-current asset:LandEquipment/MachinesIntangible assets
Red-tape. Despite of the Anti-red tape law in the Philippines, too much bureaucracy in the government is still palpable.
Poor public utility services.
Lack of financial support.
Lack of marketing skills.
Inability to innovate.
Lack of customer care.
Lack of self-growth
In an ideal society, taxation should not affect people who are dependent on the income of others or people who are not yet of legal age, this includes students.
While students in the Philippines are not taxed and are also given special discounts in certain establishments and public transportation, they are still affected by taxation. We have what is called the Value-Added Tax.
This tax is placed on all products and services available in the country if the business is earning more than 1 million pesos in a year. That means large establishments and businesses are required to pay the Value-Added Tax after a year of operation. These businesses pass on the tax to consumers by increasing the price of the goods or services they are selling.
Imposed tax on other things and the continually rising prices of consumer goods also leads to a tighter household budget when a country such as the Philippines does not have the best labor and employment laws in force. Since there is a massive income inequality in the Philippines, very low minimum wage rates, continuous inflation, the income of breadwinners and working students may not be of massive help.
Are you wondering about this hashtag? When you use this hashtag in your answers, you help us plant more trees for the Philippines.pledges to plant 1 tree for every 100 answers tagged with #answerfortrees.
Directions: IDENTIFICATION. Read and understand each s...