Describe Two Manifest Functions and Two Latent Functions of Education

question 66

Essay

Describe two manifest functions and two latent functions of education.

Identify and describe the key financial documents used by organizations.

Recognize the various types of expenses and their implications in financial management.

Comprehend the concept of owners' equity and its role in a firm's financial structure.

Explain the purpose and process of depreciation in accounting.

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Definitions:

Assigns

Individuals or entities to whom rights or properties are legally transferred.

Bank Draft

A payment instrument issued by a bank on behalf of its customer, directing the payment of a certain amount to a named individual or entity.

Certified Check

A check guaranteed by a bank, confirming that the drawer has enough funds to cover the amount.

Drawer

In financial terms, the party that writes or issues a check or draft instructing a payment to be made.