Accounting in trade and catering -1
What is the main purpose of accounting?
To systematically record, report, and analyze financial transactions
What subject are you studying now?
Accounting in various sectors
What is internal trade?
Trade activities carried out within one country
Why is accounting important in trade and catering businesses?
For managing finances and ensuring compliance
What are merchandise transactions in trade enterprises?
Buying and selling of goods to generate revenue
What characterizes wholesale trade?
Selling large quantities of goods for commercial use or production
Which characteristic of accounting ensures financial statements are clear and understandable?
Transparency
What type of goods are typically sold by trade enterprises without modification?
Trading goods
Who can carry out trading activities as individuals?
Private entrepreneurs without legal entity status
How does accounting help with cost control in businesses?
By monitoring expenses to improve profitability
Which method can be used to value inventory?
FIFO, AVCO, LIFO
What is the purpose of account 2980?
To record trade markups
What is one challenge faced by trade and catering businesses in accounting?
High variability in costs
What should be specified in clear contractual agreements with suppliers?
Payment terms, delivery schedules, and product quality expectations
Full name of your teacher?
:D