There Are Three Major Types of Business Activities

question 6

Short Answer

There are three major types of business activities. ________ activities involve the acquisition and disposal of resources that an organization uses to acquire and sell its products or services.

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Definitions:

Planning Budget

A planning budget is an outline of the expected revenues and expenses over a particular period, serving as a roadmap for financial management and operational goals.

Budgeting Formulas

Mathematical expressions or equations used to calculate, allocate, and manage financial resources over a specific period.

Direct Materials

Materials that become an integral part of a finished product and whose costs can be conveniently traced to it.

Units

A measure or quantity chosen as a standard to express the size, amount, or dimension of something.