What is an economic problem?
People have unlimited wants and needs, but limited resources to fulfill these needs and wants.
Why is it important to analyze financial statements?
To check the profitability of the business. To check whether the business is able to buy its own debts.
What are the functions of a business?
In the process of running a business, many different functions need to be performed. The usually categorized into eight different functions: General management, Purchasing, Finance, Marketing, Administration, Human resources and Public relations.