ACC 100 Chapter Notes - Chapter 1: Secondary Sector Of The Economy, Capital Structure, Resource Allocation

• School: Ryerson University
• Department: Accounting
• Course: ACC 100
• Professor: Keith Whelan

Document Summary

We create rules, in order to have a way to measure performance. Business: the activity of making, buying or selling goods or providing services in exchange for. Primary sector: this sector gathers and grows resource and raw materials - trillion. Secondary sector: this sector creates and manufactures goods - trillion. Tertiary sector: this sector consist of services - trillion. Many businesses can be in more than one sector (ie; imperial oil, explores and drills oil and gas, creates products from oil and gas, as well as sells products to consumers. Stake holder; a individual or group who a ects the business or is a ected by the actions of the business. Internal stake holders: someone who works for the business, their objective is to keep their job, do their job more e ciently, get premoted, and get paid for their work. Ensure taxs are minimized an tax laws are followed.