The division of work principle suggests that tasks should be divided among individuals to improve efficiency and productivity.

The Matching Principle requires that expenses be matched with revenues in the period in which they are incurred.

The debt to equity ratio is used to assess a company's ability to meet its long-term obligations.

The Inventory Turnover Ratio assesses a company's efficiency in managing its inventory by measuring how many times inventory is sold and replaced over a period.

The current ratio is a liquidity ratio that measures a company's ability to pay short-term obligations with its current assets.

The current ratio is a liquidity ratio that measures a company's ability to pay short-term obligations with its current assets.

The Debt to Equity Ratio measures a company's financial leverage and its ability to meet long-term obligations by comparing total liabilities to shareholders' equity.

The Current Ratio measures a company's ability to pay its short-term liabilities with its short-term assets.

Return on Assets (ROA) measures a company's profitability relative to its total assets, showing how efficiently assets are used to generate profit.

The debt to equity ratio assesses a company's ability to cover its long-term obligations.

Section 80C of the Income Tax Act allows for deductions on investments in specified savings instruments.

Section 80C allows for deductions on investments in specified savings schemes.

Section 24(b) provides for deductions on home loan interest.

Section 24(b) allows for deductions on interest paid on home loans up to Rs. 2,00,000 for self-occupied property.

Section 24(b) provides for the deduction of interest on home loan.

Direct costs can be directly traced to a specific product, unlike indirect costs.

The material price variance measures the difference between actual costs and standard costs for direct materials.

The seller is responsible for collecting GST from the consumer and remitting it to the government.

Understanding the business environment helps entrepreneurs create a unique value proposition that meets market needs.