When purchases of merchandise are made for cash, the transaction may be recorded with the following entry: Debit Merchandise Inventory; credit Cash. The correct answer is option b,
In the accounting process, there are many different types of transactions, each of which must be recorded in the books. One of these transactions is the purchase of merchandise for cash. When a company purchases merchandise for cash, it records the transaction in its accounting books using the following entry: Debit Merchandise Inventory; credit Cash. This is because the company has decreased its cash and increased its inventory, therefore, the debit merchandise inventory and credit cash entry makes sense.
What is Merchandise Inventory?Merchandise Inventory is the account name used to record the cost of goods purchased for resale. The cost of inventory is debited to the Merchandise Inventory account and credited to the accounts payable or cash account, depending on whether or not the merchandise was purchased on credit or for cash.
What is Cash?Cash is an asset account that shows the amount of money that a company has on hand. When a company receives cash, it debits the Cash account, increasing it. Conversely, when it pays out cash, it credits the Cash account, decreasing it.
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How long does a trademark last? _____
twenty years
twenty years
five years
five years
fifteen years
fifteen years
ten years
ten years
Answer:
a federal trademark can potentially last forever, but it has to be renewed every ten years.
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Which of the following is not an advantage of personal selling?
A.) ability to get immediate action
B.)ability to cultivate relationships
C.)relatively low cost
D.)ability to be individually tailored
Answer:
C.)relatively low cost
Explanation:
Personal selling involves the use of a sales team to engage customers and convince them to buy. It is a one-on-one interaction between the seller and potential buyer.
Personal selling is a costly affair. Each salesperson can only engage one client at a time. To engage a large number of customers, a big team of salespeople is required. The hiring of good salespeople, training them, salaries, bonuses, and commissions can be expensive.
In an answer of at least two well-developed paragraphs, define the terms shortage and surplus and explain how each impact the prices of goods in the marketplace.
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The ratio of the price of two goods on a graphed budget line is measured by its:.
There are lines in budget. The ratio of the price of two goods on a graphed budget line is measured by the slope of the budget.
What is a budget lineThis is regarded as a two-dimensional graph that shows the various choices one have between two goods given the money one have to spend. It is also known as budget constraint.
The ratio of the price of good X that is found on the horizontal axis to the price of good Y on the vertical axis is known as the slope of the budget.
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Drag each tile to the correct location. Match each scenario to the appropriate form of business communication. Arty wants to talk with a coworker about providing support for another coworker. Samir wants to share an editing checklist he created with his team. Elena wants to quickly ask her team leader a question about a task she's working on. Rosanna needs to talk to an employee about his poor performance.
Answer:
digital messaging:
Samir wants to share an editing checklist he created with his team.Elena wants to quickly ask her team leader a question about a task she’s working on.face-to-face or phone calls
Rosanna needs to talk to an employee about his poor performance.Arty wants to talk with a coworker about providing support for another coworkerCo-operatives play an important role in:
a. aerospace.
b. agriculture.
c. manufacturing.
d. all of the above.
The answer is option D (All the above)
A cooperative is a “member-owner” business. Co-operatives are democratically controlled by member-owners, and unlike traditional companies, each member is given a say in how the company is run.
Agriculture cooperatives are formed by farmers to transport, pack, price, distribute, sell and promote agricultural products (both crops and livestock).
Marketing co-operatives, workers benefit from economies of scale, gain access to inputs, share equipment and space, establish links to markets, and benefit from public and private sector Increase your bargaining power with stakeholders and enable you to move forward as a cooperative member on a decent job journey.
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rent received Rs. 10,000/-
Answer:
Okay, but where is the question or it's free points?
Refer to Figure 6-2. The price ceiling a. causes a shortage of 40 units. b. is not binding, because it is set above the equilibrium price. c. causes a shortage of 45 units. d. causes a shortage of 85 units. Refer to Figure 6-2. The price ceiling causes quantity a. supplied to exceed quantity demanded by 45 units. b. supplied to exceed quantity demanded by 85 units. c. demanded to exceed quantity supplied by 45 units. d. demanded to exceed quantity supplied by 85 units.
1. The price ceiling D. causes a shortage of 85 units.
2. The price ceiling causes D. Quantity demanded exceeds quantity supplied by 85 units
What is price ceiling?The "ceiling" prevents prices from rising above a certain level. A price floor prevents a price from falling below a certain level, known as the "floor." Price ceilings can be understood using the demand and supply framework. Demand for goods and services outnumbers supply in many markets.
A price ceiling is a price control, or limit, imposed by the government or a group on how much a product, commodity, or service costs. Price ceilings are ostensibly used by governments to protect consumers from conditions that could make commodities prohibitively expensive.
The price ceiling causes a shortage as supply is less than demand at the given price.
Demand = 165 and Supply = 80
Shortage = 165 - 80
= 85 units
It should be noted that Quantity demanded exceeds quantity supplied by 85 units
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When making decisions, managers should consider all relevant benefits and relevant costs, which include: (Check all that apply.) Multiple select question. incremental costs. opportunity costs. historical costs. out-of-pocket costs. sunk costs.
Answer:
opportunity costs, incremental costs, out-of-pocket costs
Explanation:
The cost of the following finest possibility that is sacrificed is referred to as the opportunity cost. These are important considerations while deciding between two alternative options.The costs that the firm pays out of pocket are known as out of pocket charges. These are important considerations while making a judgment
The variation in costs between two decisions is referred to as incremental costs. All of these are important in making decisions.
According to the assumptions of the quantity theory of money, if the money supply increases 5 percent, then a. the price level would be unchanged and real GDP would rise by 5 percent. b. the price level would rise by 5 percent and real GDP would be unchanged. c. both the price level and real GDP would rise by 5 percent. d. both the price level and real GDP would be unchanged.
Answer:
C
Explanation:
Quantity theory of money : money supply x velocity = price x output
money supply x velocity = nominal GDP
It is assumed that velocity is constant. So, if money supply increases, both the price level and real GDP would rise by 5 percent
ohn wants to start his own fruit juice and beverage company. He is aware of the large number of competitors in this industry and of the fact that his product should not be very costly. To differentiate his product from that of his competitors, he decides to sell his beverages in specially designed containers that keep the juice fresh for 7 days even without refrigeration. John is focusing on the ________ component of the marketing mix.
Answer:
Packaging
Explanation:
Since in the question, it is mentioned that for differentiating the product from its competitors John decided to sell its beverages in containers i.e. specially designed also you keep the juice fresh till 7 days even without refrigeration
So here the John is focused on Packaging component as he wants to make that product i.e differentiate from its competitors also he packaged the product in that way that it looks attractive by adding some special kind designs add on it
Therefore the packaging is the most appropriate option
Mystery of the Red Truck
By Sally Nicholls, a local reporter
It has been confirmed that late on the night of the sixth of July, a large red truck ran into the bakery on Maryland Street. After an initial investigation by police, it is now clear that the truck had no driver at all. The locals are asking a simple question: "Where was the driver?"
If the police want to solve this mystery, they will need the CCTV footage from the street. One of the locals said: "We’re all quite worried about a truck with no driver. This truck has never been seen in the neighbourhood before. If we’d seen that truck before, we’d solve this mystery now."
Many locals share the same concerns. They want to know what’s happening in their town. A witness at the crime scene told police: "There was a loud noise coming from the truck while it was going towards the building and its speed.... it was unbelievable. If it had been going
The locals didn´t know that the red truck had an old driver, so the answer is False.
To know specific data about a story we must have good reading comprehension to understand every detail of the history of the text. Some tips to improve our reading comprehension are:
Read slowly. Be analytical with the text. Take note of the details. Read daily.
These tips will help us to have better reading comprehension. Now it is time to use these tips to identify if the locals knew the truck driver, it is necessary to reread the text and pay careful attention to each of his sentences. Some phrases that can help us solve this question are:
We're all quite worried about a truck with no driver If it had been going slower, I would've had a chance to see the driver.
According to these sentences, it can be inferred that none of the locals saw the driver, so they cannot know if the driver was old or young or what characteristics he had.
Note: This question is incomplete because the text is incomplete and the question is missing. Here is the complete information:
A witness at the crime scene told police: “There was a loud noise coming from the truck while it was going towards the building and its speed.... it was unbelievable. If it had been going slower, I would’ve had a chance to see the driver. But all I saw was the truck speeding into the bakery as fast as it could. ’’
The police have already spoken with eleven other residents but no one knows any further details about the incident. Superintendent Amanda Slippers remarked: “This is a tough case. The truck licence plate belongs to this town, but nobody has seen it here. According to the town records, the owner of the truck moved away from here years ago. No one knows where to. If we located the owner, we'd probably solve this mystery.’’
If a truck moves, then it has a driver. Well, maybe we should change this basic assumption on account of this mysterious red truck.
The locals knew that the red truck had an old driver.
True
False
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A customer overhears a telephone conversation between her close friend and the friend's spouse, where the close friend mentions to her husband (who is the president of a large bank) how worried she is that she will have to move to California if her husband is successful in the takeover attempt of CalTrust Bank. The customer calls her sales representative at the broker-dealer where she maintains an account and places a market order to buy 1,000 shares of CalTrust Bank, which is immediately filled at $32.50 and then is reported by the agent to the customer. Who has violated the insider trading rules?
A The close friend
B The customer
C The agent
D All of the above
CTSO Unit 1 – 5pts
SkillsUSA is a partnership of students, teachers and industry working together to ensure America has a skilled workforce.
Directions: Use the following links to research and answer the following questions in 3-5 sentences.
https://www.skillsusa.org/programs/program-of-work/
https://www.skillsusa.org/about/skillsusa-framework/
https://www.skillsusa.org/about/history-brand-resources/
1. What is the SkillsUSA Framework?
2. What is the connection between the Framework and industry?
3. What is the SkillsUSA Program of Work?
4. What is the SkillsUSA mission?
5. What are the official colors of the organization and what do they represent?
The SkillsUSA Framework guarantees that student participants acquire the skills needed by companies and industries.
The connection between the Framework and industry is to provide talented and skilled individuals for the growth of the economy.
The SkillsUSA Program is a chapter management tool. Work empowers each student to succeed in their career
The SkillsUSA mission is " to empower members to become world-class workers" leaders and responsible American citizens.
The official colors of the organization are red, white, blue, and gold which represents states, chapter as well as individual identity.
What is a career?A career is referred to what an individual chooses as a profession to earn something. A career of an individual is based on his talents, skills, and abilities which help him to seek growth and development and achieve the goals of life.
With the aim of supplying America with a trained workforce, SkillsUSA is a program that draws together the American industrial workforce, teachers, and students.
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Which of the following students is most likely to receive a merit-based scholarship?
A.
a student from a low-income family
B.
a student with a delinquency record
C.
a student from a political family
D.
a student with a high academic score
E.
a student from a middle-income family
Answer:
D
Explanation:
If the Administrator were examining the actions of a particular agent to determine whether the agent engaged in churning a client's account, focus would be placed upon A) the number of complaints received relating to that agent B) the amount of profits generated in the client's account C) the client's objectives, financial resources, and the character of the account D) the length of time the account had been opened
Answer:
C) the client's objectives, financial resources, and the character of the account
Explanation:
While at the time of examining the actions of a specific agent by the administrator with respect to the commission earned would be depended upon the objective of the client, his financial resources,and the character of the account.
The character of the account represents the type of account in which the client is interest as different accounts have different commissions
So these three above objectives should be required
Hence, the option c is correct
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1. Describe a process flow for the silicon wafer fabrication assuming that the process starts from a semiconductor grade silicon and ends in the form ready to be shipped to customers. Your descriptive
The process flow for silicon wafer fabrication starts with semiconductor grade silicon and involves several key steps, including crystal growth, wafer slicing, surface polishing, dopant implantation, thermal treatment, and metal deposition.
The first step in silicon wafer fabrication is crystal growth, where a single crystal of silicon is grown from a seed crystal using methods like Czochralski or floating zone. Once the crystal is grown, it undergoes a process called wafer slicing, where it is cut into thin wafers using a diamond saw.
After slicing, the wafers go through surface polishing to remove any roughness and imperfections. Next, dopant implantation is performed to introduce specific impurities into the silicon, altering its electrical properties. This step is crucial for creating transistors and other electronic components on the wafer.
Thermal treatment follows, which involves subjecting the wafers to high temperatures to activate the dopants and anneal any defects. This step helps enhance the electrical characteristics of the silicon. Subsequently, metal deposition is carried out to create interconnects and contact pads on the wafer.
Throughout the process, several other steps such as lithography, etching, and cleaning are performed to pattern the silicon and remove unwanted materials. Finally, the wafers undergo testing and quality control measures to ensure they meet the required specifications. Once approved, the wafers are packaged and shipped to customers for use in various electronic devices and applications.
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WILL GIVE BRAINLIEST!! Answer the following 3 questions A, B, C, or D
UPDATE: I JUST NEED 10 & 12
Answer: 10 is a and 12 is b
"Which of the following is NOT correct? Group of answer choices Roadrailers are considered a multimodal solution when all of their capabilities are utilized. Packaging is a logistics activity. The difference between a contract carrier and a common carrier is that the common carrier handles shipments on a case-by-case basis while the contract carrier handles shipments based on long term contracts. Assortment warehousing is a form of warehousing that combines classic operations with light manufacturing and packaging duties in order to assure short customer lead times."
Answer:
Assortment warehousing is a form of warehousing that combines classic operations with light manufacturing and packaging duties in order to assure short customer lead times.
Explanation:
Warehousing
This have different points of view. The traditional view about warehousing is that it is a place used in for storage or holding of goods/ inventory
The contemporary opinion about warehousing is that it is has function set in place to mix inventory assortments to meet the need of customer. It deals with the storage of products which is held to a minimum.
Warehousing types
This includes;
1. Distribution centers
2. Consolidated terminals
3. Break-bulk facilities
4. Cross-dockers
assortment warehousing
This is a known form of warehousing. It consists of when different type of goods is held close to the source of demand in order to assure short customer lead time.
What is the first step in the federal budget process?
a. Congress debates and compromises on a budget
b. Federal agencies propose spending
c. Executive branch creates a budget
d. President signs or vetoes budget
Answer:
executive branch create a budget
Explanation:
i think in every budget process the first step is to plan or create a budget
The Executive branch creates a budget, which is the Frist step in the federal budget process. Therefore option C is correct.
What is Budget?
A spending plan based on income and costs is called a budget. In other words, it's a projection of your income and expenses for a specific time frame, like a month or a year.
You can always have enough money for the things you need and the things that are crucial to you because budgeting helps you to make a spending plan for your money. Maintaining a budget or spending plan will also assist you in remaining out of debt or, if you are already in debt, in overwhelming it.
Depending on the specific area of the business that has to be prioritized, different budgets can be prepared. Below are three examples of common budgeting plans.
Forecast Budget
Performance Budget
Cash Budget
Hence, firstly executive branch creates a budget.
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Which of the following statements about investing is TRUE?
1. Investing is a guaranteed way to make money.
2. Investing is best for short-term financial goals.
3. Investing is riskier than putting money in a savings accounts.
4. On average, putting money in a savings account earns a higher return than investing money in the stock market.
Answer:
3. Investing is riskier than putting money in a savings accounts.
Explanation:
Investing involves putting money in profits generating ventures. It is risky because the money invested may be lost should the venture make losses instead of profits. Investments activities include buying of shares and other marketable securities or starting and operating a business. Should the business or investment do well, the returns or profits can be attractive.
Saving is putting money aside for future consumption. Saving may be done through savings accounts that as safe and secure. Money saved is risk-free. The possibility of losing it is very minimal. Because money saved is kept safe, it does not generate much income for the owner.
the margin of safety for the miter saw is?
A. two inches
B. three inches
C. four Inches
D. six inches
Answer:
D six inches
Explanation:
Your still cute
Answer: D. Six inches MINIMUM margin of safety at all times.
A supplier is entering into a contract with a manufacturer to deliver a machine in no later than 8 weeks from now. Due to uncertainty in availability of parts for the machine, the supplier is not sure when it will be able to deliver the machine. Also, when the machine is delivered, there is a chance that the manufacturer will judge it as being of inferior quality. The supplier estimates the probability distribution of the time it takes to deliver the machine is given as below.
Independently of this the company estimates that the probability of rejection due to inferior quality 0.15. If the machine is delivered at a least a week ahead of time and the manufacturer judges the quality to be inferior, the supplier will have time to fix the problem (with certainty) and still meet the deadline. However, if the delivery is late, or if it is exactly on time but of inferior quality, the manufacturer will not pay up.
The supplier expects the cost of manufacturing the machine to be $45,000. This is a sunk cost that will be incurred regardless of the timing or the quality of the machine. The supplier also estimates that the cost to fix an inferior machine depends on the number of weeks left to fix it: $7500 if there are three weeks left, $10,000 if there are two weeks left, and $15,000 if there is one week left. The manufacturer will pay $70,000 for a machine of sufficient quality delivered on time, but it will pay nothing otherwise.
Find the distribution of profit or loss for the supplier. Then find the mean and standard deviation of this distribution. Do you think the supplier should sign the contract?
Based on the analysis, the distribution of profit or loss for the supplier is highly uncertain. However, the expected profit is negative, indicating a potential loss. Considering the risks involved and the estimated mean and standard deviation of the profit distribution, it would be advisable for the supplier not to sign the contract.
To determine the distribution of profit or loss for the supplier, we need to consider various factors. First, we have the uncertainty in the delivery time of the machine, represented by a probability distribution. The supplier's estimation of this distribution indicates that there is no guarantee the machine will be delivered within the desired timeframe.
Next, we have the probability of the manufacturer rejecting the machine due to inferior quality, which is estimated at 0.15. If the machine is delivered at least a week ahead of time and judged as inferior, the supplier can fix it within the remaining time and still meet the deadline. However, if the delivery is late or on time but of inferior quality, the manufacturer will not pay.
Considering these factors, the supplier's profit or loss will depend on the following scenarios: (1) early delivery and judged as inferior (2) early delivery and judged as sufficient quality (3) late delivery or on-time delivery with inferior quality.
In scenario (1), the supplier can fix the machine, incurring an additional cost based on the number of weeks left to fix it. In scenario (2), the supplier receives the payment from the manufacturer. However, in scenario (3), the supplier incurs a loss as no payment is received.
By considering the probabilities and associated costs, we can calculate the expected profit or loss for each scenario and combine them using the probability distribution of the delivery time.
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S.O.S. soap pads were advertised on television for many years. When the company discontinued advertising, sales slowly began to decline and consumers gradually forgot the brand name. This illustrates the concept of:
A) decay effects
B) wear out effects
C) carryover effects
D) threshold effects
When the company discontinued advertising, sales slowly began to decline and consumers gradually forgot the brand name. This illustrates the concept of carryover effects
Carryover effects is the concept illustrated in this scenario. Carryover effects refer to the impact of previous advertising on consumer attitudes and behavior that persists even after advertising has stopped. In this case, the company's previous advertising efforts created brand awareness and a positive association with the product, which helped to sustain sales even after advertising stopped. However, over time, without continued advertising efforts, the positive carryover effects gradually wore off, and sales began to decline.
Decay effects refer to the gradual weakening of the impact of advertising over time, as consumers forget or lose interest in the advertised product. Wear out effects occur when repeated exposure to the same advertising message leads to a decrease in its effectiveness. Threshold effects refer to the minimum level of advertising needed to achieve a significant impact on consumer behavior.
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don julio’s supervisor gave him an oral warning for drinking on the job
The appropriate discipline type for Don Julio's situation is corrective discipline.
In the given example, Don Julio received an oral warning from his supervisor for drinking on the job. This falls under the category of corrective discipline. Corrective discipline is used to address and correct employee behavior or performance issues that do not meet the expected standards or violate company policies. It aims to provide feedback, guidance, and consequences to help employees understand and rectify their actions. Oral warnings are often the initial step in corrective discipline, serving as a formal communication to address the specific incident, inform the employee of the misconduct, and emphasize the need for improvement. Corrective discipline measures are designed to promote a positive work environment, reinforce expectations, and encourage employees to adhere to company rules and regulations.
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The complete question is: "Identify the appropriate discipline type for the given example- Don Julio received an oral warning from his supervisor for drinking on the job."
ACQ today announced it has entered into a definitive agreement to acquire TGT, in an all-stock transaction valued at approximately $14.7 billion. As part of the agreement, TGT stockholders will receive 0.43 shares of Class A common stock of ACQ for each share of TGT. Based on the closing share price of ACQ common stock as of July 16, 2021, this represents a per share price for TGT common stock of $200.28, or nearly a 29% premium over the TGT closing price as of July 16, 2021. The share price of TGT as July 16, 2021 is $ per share. The share price of ACQ as July 16, 2021 is $ per share.
ACQ announced a definitive agreement to acquire TGT in an all-stock transaction valued at approximately $14.7 billion.
TGT stockholders will receive 0.43 shares of ACQ's Class A common stock for each share of TGT. The per-share price for TGT is $200.28, representing a 29% premium over TGT's closing price as of July 16, 2021. To calculate the share prices of TGT and ACQ on July 16, 2021, we can use the information given:
$200.28 (TGT per-share price) = 0.43 shares of ACQ * ACQ share price
To find ACQ's share price, divide the TGT per-share price by 0.43:
ACQ share price = $200.28 / 0.43 ≈ $465.77
Now, to find the TGT closing price on July 16, 2021:
TGT closing price = $200.28 / (1 + 0.29) ≈ $155.10
So, the share price of TGT as of July 16, 2021, was approximately $155.10 per share, and the share price of ACQ as of July 16, 2021, was approximately $465.77 per share.
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The characteristics of a world market where global competition prevails include A. a market situation where competitive conditions across national markets are linked strongly enough to form a true world market and where leading competitors typically compete head to head in many different countries. B. minor cost variations from country-to-country (as concerns production, distribution, sales and marketing, and other primary components of the industry value chain) and minimal cross- country trade restrictions. C. a competitive environment comprised of so many competitors that no company has a sizable worldwide market share. D. many companies racing for global market leadership, with most contenders using the same basic type of competitive strategy and positioned in the same strategic group. E. low barriers to entry, such as large number of rivals that the actions of any one rival have little impact on the sales and market shares of other rivals, and key success factors that vary from country to country.
Answer:
A. a market situation where competitive conditions across national markets are linked strongly enough to form a true world market and where leading competitors typically compete head to head in many different countries.
Explanation:
The characteristics of a world market where global competition prevails include a market situation where competitive conditions across national markets are linked strongly enough to form a true world market and where leading competitors typically compete head to head in many different countries.
For instance, the fierce competition between the manufacturers of mobile phones such as Android devices and iOS devices. Also, manufacturers of vehicles are into head to head competition in different countries.
- RBT Requirements Coordinators are responsible for:
•Direct supervision of an RBT only
•All supervision activities of RBTs across an organization
•Administrate paperwork associated with RBT supervision only
•Only activates associated with RBT supervisors
Answer: All supervision activities of RBTs across an organization
Explanation:
A Registered Behavior Technician I someone who that is closely monitored by BCBA when practicing. The RBT is responsible for implementing behavior-analytic services.
RBT Requirements Coordinators are responsible for all supervision activities of RBTs across an organization.
When janelle decided to buy a new computer, she thought about all the brands she could recall seeing advertised, but when she visited her local best buy, she limited her search to only those brands she would consider buying. the brands available at best buy represent janelle's set.
Situational influences are transient circumstances that have an impact on consumer behavior.They include tangible elements like a store's layout, buying areas, music, lighting, and even odors.Businesses work to improve the physical conditions that shoppers encounter.
What are the situational factors that could alter the consumer decision making at the time of purchase?The likelihood that someone will go through all six stages of the purchasing process is probably limited to specific circumstances, such as when purchasing a thing for the first time or when purchasing expensive, durable, infrequently used items.Complex decision-making is what is meant when this occurs. Which of the aforementioned purchases would consumers be most likely to make with limited problem-solving.A regular coffee drinker's typical purchase is generally coffee to go.But problem solving skills will likely be reduced as a result of college courses. Physical surroundings, social surroundings, temporal perspective, task description, and antecedent state are the five components that make up situational factors. There are four different forms of consumer behavior: complex buying behavior, dissonance reduction, variety seeking, and habitual buying behavior. Consumer decision-making can appear complicated, but all buyers follow the same fundamental stages to choose the goods and services that will best meet their needs.Whether purchasing something, especially when it's something substantial like a car, consider your own thought process. When acquiring high-involvement products, buyers don't exhibit routine response behavior.Instead, they participate in what is known as prolonged problem solving, spending a lot of time weighing various factors such product features, costs, and warranties.To learn more about decision making refer
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What is the new law the American government enacted for promoting small businesses in the country?
O The Small Businesses Act of 1954.
O The Small Businesses Act of 1953.
O The Small Businesses Act of 1955.
O The Small Businesses Act of 1958.
Answer:
The Small Businesses Act of 1953.
Explanation:
In the United States of America, majority of the competitive landscape or business environment is made up of small business enterprise.
The Small Business Administration (SBA) is an agency of the federal government that is saddled with the responsibility of providing both managerial and financial assistance to small businesses in the United States of America.
The Small Businesses Act of 1953 was enacted as an Act of Congress on the 30th of July, 1953 by the Congress of the United States of America to create the Small Business Administration (SBA).
Hence, SBA was established in 1953 as an autonomous (independent) agency of the government of the United States of America to aid, counsel, assist and protect American entrepreneurs and to preserve small business institutions.
Generally, it is saddled with the responsibility of providing both managerial and financial assistance and counseling to small businesses in order to bolster the American economy.
The small business administration (SBA) serves as an intermediary between entrepreneurs and investors or creditors, so as to provide them with the necessary funds required to plan, start and grow their business.
Basically, SBA provides services such as entrepreneurial development, access to funds, advocacy and contracting to small businesses (entrepreneurs) in the United States of America.
In conclusion, the Small Businesses Act of 1953 was the new law the American government enacted for promoting small businesses in the country.