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Business Finance Healthcare Finance: An Introduction to Accounting and Financial Management

The difference between a pure charity and a business and between governmental agency and business. Introduction: Business refers to the economic system or an organization that involves in the purchase and sale of goods and services in exchange of money. Pure charity involves contributing towards the noble cause or providing help to people in need. It can be concluded that the pure charity is associated with providing humanitarian services to the people that are in need of the same whereas business is associated with the purchase and sale of the goods and service for the purpose of making profit. Government strives towards providing basic amenities to the country and people. It represents the particular country in the global forum. The businesses represent a company, its owner, employees and strive towards earning profit by satisfying the requirements of the customer in the market. Pure charity does not include selling goods and services to anyone, whereas business involves the sale of services and goods to the customers. A business is for profit organization which is required to generate enough revenue in order to operate and pay off to its debtors that provides raw material for processing of goods and services, whereas pure charity is not a profit organization and has a fixed budget which is formed out of expected annual contribution by different donors. In Business, the capital is acquired from the marketplace, however, in pure charity; the funding comes from the contribution made by different donors. Pure charity does not have any tax implication; however the business has tax implication on the profit earned through selling of goods and services. Government refers to an entity that represents the country, society and all its avenues collectively. Business, on the other hand is associated with transaction, commerce, occupation and trade that help in generating profit for the business. The government strives to provide national identity and a sense of wholeness to the country and people residing in it. Business strives to provide goods and services according to the need and wants of the customer in the market. A Government comprises of politicians, bureaucrats, power and ruling. The business comprises of employees, managers and owner.

The difference between a pure charity and a business and between governmental agency and business. Introduction: Business refers to the economic system or an organization that involves in the purchase and sale of goods and services in exchange of money. Pure charity involves contributing towards the noble cause or providing help to people in need. It can be concluded that the pure charity is associated with providing humanitarian services to the people that are in need of the same whereas business is associated with the purchase and sale of the goods and service for the purpose of making profit. Government strives towards providing basic amenities to the country and people. It represents the particular country in the global forum. The businesses represent a company, its owner, employees and strive towards earning profit by satisfying the requirements of the customer in the market. Pure charity does not include selling goods and services to anyone, whereas business involves the sale of services and goods to the customers. A business is for profit organization which is required to generate enough revenue in order to operate and pay off to its debtors that provides raw material for processing of goods and services, whereas pure charity is not a profit organization and has a fixed budget which is formed out of expected annual contribution by different donors. In Business, the capital is acquired from the marketplace, however, in pure charity; the funding comes from the contribution made by different donors. Pure charity does not have any tax implication; however the business has tax implication on the profit earned through selling of goods and services. Government refers to an entity that represents the country, society and all its avenues collectively. Business, on the other hand is associated with transaction, commerce, occupation and trade that help in generating profit for the business. The government strives to provide national identity and a sense of wholeness to the country and people residing in it. Business strives to provide goods and services according to the need and wants of the customer in the market. A Government comprises of politicians, bureaucrats, power and ruling. The business comprises of employees, managers and owner.

Solution Summary: The author explains the difference between pure charity and a business, and between governmental agency and business.

Healthcare Finance: An Introduction to Accounting and Financial Management

Healthcare Finance: An Introduction to Accounting and Financial Management

6th Edition

ISBN: 9781567937411

Author: Louis C. Gapenski, Kristin L. Reiter

Publisher: Health Administration Press

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Healthcare Finance: An Introduction to Accounting and Financial Management

Ch. 1.1 - Prob. 1.1STQ Ch. 1.1 - Prob. 1.2STQ Ch. 1.1 - Prob. 1.3STQ Ch. 1.1 - Prob. 1.4STQ Ch. 1 - Prob. 1.1STQ Ch. 1 - Prob. 1.2STQ Ch. 1 - Prob. 1.3STQ Ch. 1 - Prob. 1.4STQ Ch. 1 - Prob. 2.1STQ Ch. 1 - Prob. 2.2STQ

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