Buisness Information

Satisfactory Essays
Topics: Variable cost, Costs
Assignment
Contemporary Buisness

1.1 Giving an example of a trading organisation,Explain what buisness means and how to profit is calculated.

NAME | BAHAIKRAM BIN ABU BAKAR & MOHD ZULFADHLI HILMI BIN MUHAMAD ZAINEH | STUDENT ID | 01-201304-00275 & 01-201304-00279 | CLASS CODE | 01-201303D250005 | LECTURER | MR.CHANDRAN KASI | DUE DATE | 24TH APRIL 2013 |

What is Business? Meaning

Human beings are continuously engaged in some activity or other in order to satisfy their unlimited wants. Every day we come across the word 'business' or 'businessman' directly or indirectly. Business has become essential part of modern world.

DEFINITIONS
"The regular production or purchase and sale of goods undertaken with an objective of earning profit and acquiring wealth through the satisfaction of human wants."

"Business refers to a form of activity conducted with an objective of earning profits for the benefit of those on whose behalf the activity is conducted."

Example; Trading Organization
Gatelink sdn.bhd was set up a year ago by Ms.Zabidah it Sells a variety of Tablet Android and their accessories.For twelve-month period ending December (31december2012) the company was expected to generate a profit of RM150,000.
As you can see from the scenario given Gatelink sdn.bhd is an organization operating with the objective of earning profits (in this case ,RM150,000) from the sale of multiple products which constitute of tablet android, Tablet Android accessories, as well as repair services.

Calculation of profit 1.1 The Goal of Business
As you set about starting a business, you definitely hope to make a lot of money from it. This positive gain derived from a business endeavour is known as the profit. As all businesses have the potential of generating profits, many are attracted to venture into a business no matter how small it is in scale.

What does the term profit mean?

Profit is the reward earned by businesspeople who are

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