How do you make profit when you open a business

Answers

Answer 1

Answer: The fundamental way to earn profit is that the money you get
for selling your product has to be MORE THAN the cost of

   manufacturing the product
+ paying your employees
+ paying the taxes on your business
+ keeping your machinery maintained and working
+ advertising
+ paying yourself
+
+
+
etc.

BUT ... If the price of your product is too high, then everybody will buy them
from your competitor instead of from you, and you won't sell any at all.

It's a delicate balance.

40 years ago, I asked a wise sage with whom I traveled and worked: Advise me
on how to acquire great riches in an honest business. He gave me the Secret,
and now I give it to you:

He said:
   "Invent something which nobody has and everybody wants,
       which can be made for peanuts and sold for a fortune."

Answer 2

Answer: Advertisements, signs, making offers,

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how long is a patent good for in the united states? question 34 options: 5 years 7 years 10 years 17 years

Answers

A patent is good for 20 years from the filing date of the application in the United States. However, this does not match the options you provided (5 years, 7 years, 10 years, 17 years). Please double-check the options and let me know if there are any updates or corrections.

Whoever invents or discovers any new and useful process, machine, manufacture, or composition of matter, or any new and useful improvement thereof, may obtain a patent therefor, subject to the conditions and requirements of this title. There are three types of patents: utility, design, and plant. A U.S. utility patent, explained above, is generally granted for 20 years from the date the patent application is filed; however, periodic fees are required to maintain the enforceability of the patent. The term for which a utility patent is valid is generally 20 years from the date of filing, and the term for which a design patent is valid is generally 15 years from issuance. However, this does not match the options you provided

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The law of diminishing returns is often used to analyze the ideal amount of which factor of production?a. Capital
b. Land
c. Entrepreneurship
d. Labor

Answers

D. The law of diminishing returns analyzes the amount of utility orproduction that will be gained by adding additional units of some factorinto a project or activity. Additional units of labor are understood toproduce diminishing levels of output over the same time period.

Answer

D.Labor

Explanation:

Brainliest please

Which of the following agencies serves as a watchdog over the data mining of consumer information?a. Federal Trade Commission
b. American Marketing Association
c. U.S. Congress
d. Electronic Privacy Information Center
e. Federal Communications Commission

Answers

The Federal Trade Commission (FTC) serves as a watchdog over the data mining of consumer information. The correct answer is A. Federal Trade Commission.

The Federal Trade Commission (FTC) is an independent agency of the United States government that is responsible for promoting consumer protection and preventing anticompetitive business practices in the marketplace. The FTC was created in 1914 to enforce the Federal Trade Commission Act, which prohibits unfair or deceptive acts or practices that harm consumers and competition. The agency has the power to investigate and litigate violations of consumer protection and antitrust laws, issue regulations, and conduct studies and reports on various issues related to the economy and competition. The FTC also works to educate consumers and businesses about their rights and responsibilities in the marketplace.

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When a ________________ exists in a competitive market, buyers want to purchase more of a good or service than is supplied.

Answers

Answer:

excess demand or shortage

Explanation:

this is called excess demand or a shortage. Remember, when excess demand exists, buyers compete more intensely for the amount available

Final answer:

The term that completes the sentence is 'shortage'. In a competitive market, a shortage occurs when the demand for a good or service surpasses its supply. This scenario can materialize due to various causes such as increased demand, production issues or limitations in the market.

Explanation:

When a shortage exists in a competitive market, buyers want to purchase more of a good or service than is supplied. A shortage occurs when the demand for a product exceeds the supply. This condition can be due to various factors such as production problems, increased demand, or market restrictions. An example of this may be the shortage of a popular toy during the holiday season. Manufacturers may not be able to keep up with the increased demand, leading to a scarcity of the toy in the market. As a result, buyers are willing to purchase more than what is available, creating a shortage.

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An adjusting entry for accrued expenses involves: (Select all that apply.) debit to an expense credit to an expense credit to a liability debit to a liability debit to an asset credit to a revenue\

Answers

An adjusting entry for accrued expenses involves a debit to an expense and a credit to a liability account.

What is adjusting entry?

Adjusting entries are made in journal entries especially when the financial year ends in order to make final adjustments. Thus, the expenses and revenues are recorded for the actual time period of their occurrence.

How the adjustment entry for an expense is recorded?

Wages expense A/c Dr.

To wages payable A/c

Hence, the recording of accrued expenses has to be made as soon as it arises as it is a liability to the business.

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Answer:

Explanation:

The journal entry to record the accrued expense is shown below:

Example:

Wages expenses A/c Dr XXXXX

To wages payable A/c XXXXX

(Being the accrued expenses is recorded)

While recording the wages expenses, we debited the accrued expenses as it increases the expenses account and credited the wages payable account as the liabilities account is also increased

What does acronym OSHA stand for?

Answers

“OSHA” Stands for the Occupational Safety and Health Administration of the United States Department of Labor, formed by the Occupational Safety and Health Act of 1970

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Your new customer directs you to open a cash account. He wants to give trading authorization to his brother but does not want his brother to have any other authority in the account. The two required documents needed by your firm to open the account as directed would be a new account form and:___________.