Category: Lifetime Business

Types of business

There are three main types of business. Sole proprietorship. Partnership. Company. Sole proprietorship:- Single person handle business in this type of business. He is also solely owner of the business. There are different types of advantages and disadvantages in the sole proprietorship. Advantages Single person is owner of the business. Single person enjoys the income […]

Accounting Cycle

There are five main parts of accounting cycle General Journal. Ledger. Trial balance. Income statement. Balance sheet. Journal is the book maintained by the company to record daily transactions. Format of journal is very simple and easy to understand. Date, details, ledger folio, debit and credit come under the format of journal. Ledgers are the […]

Nature of businesses

There are two main types of nature of businesses Manufacturing businesses. Service oriented businesses. Manufacturing businesses:- A traditional manufacturing system involves the process from the procurement of raw materials through the different stages of conversion of these raw materials into the final product and sale of these products. Concept of value chain relates to manufacturing […]

New Business Ideas

New Business Ideas Government of our country encourages youths to try out their talent in business as it is not only for the profit of owners, but also for central revenues. New business ideas are catching up with new middle class buyers. Some people have the influx of advanced and new business ideas. The initial procedures are arranging a team […]