The obligations of an enterprise other than owner’s fund are kno...
The obligations of an enterprise other than the owner’s fund are known as: B: Liabilities
Liabilities are the financial obligations of a business, excluding the owner's equity, and include things like loans, accounts payable, mortgages, deferred revenues, bonds, warranties, and accrued expenses.
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The obligations of an enterprise other than owner’s fund are kno...
The obligations of an enterprise other than owner's fund are known as liabilities and also known as external equities. It is that amount which is payable to outsiders.
The obligations of an enterprise other than owner’s fund are kno...
An enterprise, other than the owner, has several obligations that it needs to fulfil. These obligations may vary depending on the type of enterprise and the industry it operates in. However, some common obligations include:
1. Employees: An enterprise has an obligation to provide a safe and healthy work environment for its employees. This includes complying with labor laws and regulations, providing fair wages and benefits, and ensuring equal opportunities for all employees.
2. Customers: Enterprises have a responsibility to provide quality products or services to their customers. This includes being transparent about the products or services offered, providing accurate information, and addressing any customer complaints or concerns.
3. Suppliers: Enterprises have an obligation to maintain fair and ethical relationships with their suppliers. This includes paying suppliers on time, honoring contracts, and ensuring that suppliers adhere to ethical and sustainable business practices.
4. Shareholders: If the enterprise is publicly traded, it has an obligation to its shareholders to provide accurate and timely financial information, make informed business decisions, and maximize shareholder value.
5. Community and society: Enterprises have a social responsibility to contribute positively to the communities and societies in which they operate. This can be done through various means, such as corporate social responsibility initiatives, philanthropy, environmental sustainability practices, and ethical business conduct.
6. Government and regulatory bodies: Enterprises have an obligation to comply with all applicable laws and regulations. This includes paying taxes, obtaining necessary licenses and permits, and adhering to industry-specific regulations.
7. Environment: Enterprises have a responsibility to minimize their impact on the environment. This can be achieved through sustainable business practices, such as reducing waste, conserving energy, and using eco-friendly materials.
Overall, enterprises have a range of obligations to various stakeholders, and fulfilling these obligations is essential for long-term success and sustainability.