BSL 212: Introduction to Business Law and Ethics

Explore the importance of the conceptual framework in identifying significant variables and making informed decisions. Learn about the enhancing qualities of qualitative characteristics that enhance transparency and credibility in financial reporting.

Discover the unique role of contra revenue accounts in accounting, emphasizing their debit balance nature and their use in adjusting gross revenue. Explore examples like sales discounts, returns, and allowances to grasp their impact on a company's reported income.

Explore the principle of the law of supply and its impact on producers' decisions. Discover how prices, production costs, and the profit motive shape the supply curve. Gain insights into how opportunity costs and collective behavior form the market supply curve.

Discretionary Reporting offers a deeper look into a company's finances beyond standard requirements. By voluntarily providing added details, it enhances transparency, aids stakeholders, and effectively communicates unique circumstances. But, companies must ensure consistency and uphold ethical practices

Understand the essence of a 'promissory note', its binding legal nature, and its significance in business dealings. Learn the dynamics between the maker and the payee and how such notes facilitate fluid financial operations.

Witness Janice's decision-making process at a market, weighing perceived value against costs. Understand the dynamics of consumer choice in economics. Learn how maximizing utility and budget constraints affect purchasing decisions.