In Which Situations Would It Make Better Sense to Undertake

question 75

Essay

In which situations would it make better sense to undertake a part-time business? Explain.

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Definitions:

Revenues

Increases in owner’s equity as a result of providing services or selling goods to customers.

Budget Performance Report

A report that summarizes actual costs, standard costs, and the differences for the units produced.

Cost Centers

Parts of an organization to which costs can be allocated, but which do not directly generate revenues.

Operating Expenses

Costs incurred during the normal functioning of a business, excluding the cost of goods sold.