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PST311L - All Questions and Answers (Shaun)-1-1 (1)-1 (1).pdf

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Acquiring assets Yes, I agree, various steps should be considered in the establishment of a business. Assets are investments that will earn money over time. Anything that you buy that rises in value can be considered an asset. That said, assets most commonly refer to financial investments in stocks, bonds, or commodities. Each asset has its own risks and potential. It is often a good idea to buy different types of assets to maximize your investment. When assets are recorded on the balance sheet ...

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PST 311L ASS 1

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1.2.1 Traditional mechanism • South Africa’s economy was traditionally rooted in the primary sectors – the result of a wealth of mineral resources and favourable agricultural conditions. But recent decades have seen a structural shift in output. Well, a traditional economy is that in which customs, traditions, and beliefs are rich in developing the goods and services for the area. In other words, a traditional economy is one that is built around the way a society lives. The goods and serv...

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PST 311L PASS ASS 2

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When assets are recorded on the balance sheet of a business, they are classified as being either short-term or long-term assets. A short-term asset is expected to be consumed within one year, while long-term assets are to be consumed in more than one year. Some intangible assets are not recorded on the balance sheet, unless they have been purchased or acquired. For example, a taxi license can be recognized as an intangible asset, because it was purchased. In addition, the value of a customer lis...

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