Commerce Flashcards
1
Q
to be considered employed, you must
A
- be 15+
- worked for at least one hour a week
- have received pay, profit, commission, or any payment
2
Q
types of income
A
- wages
- salary
- commission
- profit
- dividends
- rent
- social welfare
3
Q
tax
A
money citizens pay to funs the government to pay for hospitals, schools, roads, disability and social welfare payments.
4
Q
types of industries
A
- primary
- secondary
- tertiary
- quaternary
- quinary
5
Q
legal structures
A
- sole trader
- partnership
- private company
- public company
- incorporated association
6
Q
balance sheet
A
assets = liability + owners equity
owners equity = assets - liability
7
Q
CSR
A
cooperate social responsibility
