Distinguish between :
(a) Commercial and Non-commercial activities
(6) Book keeping and Accounting
(c) Saving and Fixed deposit
(d) Journal and Ledger
(e) Wholesale and Retail trade
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Answer:
(a) Non-commercial use encompasses a wide range of exciting possibilities—including artistic, educational, scholarly, and personal projects that will not be marketed, promoted, or sold. ... Commercial use is any reproduction or purpose that is marketed, promoted, or sold and incorporates a financial transaction.
(b) Accounting is the process by where a company's financials are recorded, summarized, analyzed, consulted and reported on. Bookkeeping is the recording part of this process, in which all of the financial transactions of the business (consisting of income and expenses) are entered into a database.
(c) In savings account there are no limits on the amount of money which can be deposited and the amount which can be maintained in the account. Which means the account holder can deposit as much as they want. There is no restriction on it. Whereas in FD the money deposited will be under the terms and condition of the Bank.
(d) The difference between journals and ledger is that the journal book is the entry book of all transactions and the ledger is the recording process of the journalize entry. In the double entry accounting system, every transaction has two effects and equal..
(e) When buyers buy a product and sell it to the final customers for their consumption, and not for any resale, this is known as Retail. The retailers are the mediator between wholesaler and customers. They purchase goods from the wholesaler and sell them to the ultimate customers in small quantity.
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Answer:
wholesale And traders