Following the BRIE Model in Starting a Business,the Entrepreneur Creates

question 87

Essay

Following the BRIE model in starting a business,the entrepreneur creates a boundary within the environment,setting the firm apart from the rest of the environment.In doing this,the entrepreneur gives the firm an organizational identity.Define organizational identity and then elaborate on the components of the BRIE model and how they apply to a new entrepreneur.

Understand the concept and purpose of adjusting entries in accounting.

Distinguish between various types of accounts such as assets, liabilities, equity, revenue, and expense accounts.

Identify the principles of accrual accounting, including the recognition of revenues and expenses.

Recognize the definitions and treatment of prepaid expenses, accrued expenses, and deferred revenues.

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Definitions:

Standards

Agreed-upon norms or criteria used as a reference point for quality or performance.

Numbers

Numbers are mathematical objects used to count, measure, and label.

Percentages

Numerical values expressed as fractions of 100, used to describe proportions or ratios.

Dangling Modifiers

A word or phrase that modifies a word not clearly stated in the sentence, often leading to confusing or unintended meanings.