Explain the following terms and give example also:
B.Goods
Answers
Answer:
The commodities which are bought to resale or for packing and selling or for production to produce final goods for sale are called goods. It is basically things in which sellers trade. For example, for a seller of furniture goods are wood that he will purchase to make furniture.
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Answer:
A) Assests: property of an kind owned by a business man. The ownership of the asset must be with the business unit. Eg: Plant, Machinery, land & buildings.
B) Capital: The total amount invested by the owner in the business.Examples of consumer goods include food, appliances, clothing and automobiles.
C) Goods: The commodities or articles in which the trade deals. For example, to a consumer making a purchase of a satisfying product. A common distinction is made between goods which are transferable, and services, which are not transferable.