What resources are required to have a successful business?

work nice be success in your life I don't know answer

Labour - Finances - Time...

Explanation:

That is a very good question.

To start off, it is useful to understand what are resources.

Resources are assets that are required for you to function. (e.g. money)

In a business there are many resources that you need to function.

Think off owning a bookshop. Ask yourself, what do I need?

I need money, I need a place to display my books, I need books, I need people... These are resources you need to be successful.

Now, going back to my above Labour, finances and time. These are a few resources you need to succeed. You need labour - people - to set up the business, manage the business, serve customers...

You need finances to set up the legalities of starting up a business. You need finances to buy materials, machinery (if it is a production business), stocks...

You need the time to do all of these things.

Lastly, I have purposefully, gave three resources for the answer. For sure there are more, though I want to keep the options you for open to add

as you see necessary. With no doubt the answer is incomplete, but I want to provoke you to right have your answer.

I hope the answer is clear.  

From the attached excel file, we have:

a. Ending Cash Balance:

April = $12,300

May = $17,815

June = $21,071

b. Loan Balance End of Month:

April = $2,962

May = $0

June = $0

Explanation:

Note: The opening sentences of the question is as follows:

Castor, Inc., is preparing its master budget for the quarter ended June 30. Budgeted sales and cash payments for merchandise for the next three months follow:

Budgeted                                            April              May             June

Sales                                                 $31,700       $40,300       $24,300

Cash payments for merchandise    20,800          16,500          16,900

Other information is correctly sated in the question:

The explanation of the answers is now given as follows:

Note: See the attached excel file for the cash budget.

Also note that nothing is mentioned about when the accounts payable of $11,300 will paid in cash. Therefore, it is not treated in the cash budget prepared.

In the attached excel file, the following calculations is made:

April additional loan = Minimum required cash balance - April Preliminary cash balance = $12,300 - $11,638 = $662