Answer:
C) increase production.
Explanation:
Competitive firms maximize their accounting profits when marginal revenue (MR) = marginal cost (MC).
In a perfectly competitive market, all the producers and the consumers are price takers, so they cannot change the price of the goods. So changing the sales price is not possible. Since the marginal revenue is greater than the marginal cost, the firm should increase its production output until MR = MC.
In this scenario, the firm should increase production to generate more revenue.
Explanation:The firm should increase production because the revenue from selling each unit of output ($5) exceeds the marginal cost of producing the 37th unit ($3), indicating that the firm is generating a profit on each unit produced. Increasing production would allow the firm to sell more units and thus increase its overall revenue.
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Grande Floors, Inc., and Home Decor Stores enter into a contract for a sale of carpeting. Grande Floors, a merchant who deals in goods of the kind sold, makes express warranties in connection with the sale. Under the UCC, at the time a contract is formed, an express warranty can be disclaimed or modified
a. in any way that the seller sees fit for the ordinary purpose.
b. in no way.
c. by clear, conspicuous language called to the buyer's attention.
d. by implied affirmations of fact relating to the goods.
Answer:
The correct answer is c. by clear, conspicuous language called to the buyer's attention.
Explanation:
The express guarantee is defined as a promise that the seller makes to the buyer about a good in the process of being sold, that is, some change in the conditions agreed upon initially. This process must be done clearly and concisely so that it is easily understood and the conditions that benefit both are offered.
An express warranty by Grande Floors, Inc. can be disclaimed or modified under the UCC; however, it is required to be done through clear and conspicuous language that is presented to Home Decor Stores. State laws may impose further limitations on disclaimers and modifications of warranties.
Explanation:Understanding Express Warranty Disclaimers Under the UCC
Under the Uniform Commercial Code (UCC), when Grande Floors, Inc., and Home Decor Stores enter into a contract for the sale of carpeting, Grande Floors can provide express warranties to reassure the buyers of the product's quality. However, the question at hand is whether an express warranty can be disclaimed or modified at the time a contract is formed. According to the UCC, express warranties can be modified or disclaimed, but this must be done through 'clear, conspicuous language' that is brought to the attention of the buyer.
Guarantees, warranties, and service contracts assure buyers that the seller stands behind their products. While most sellers seek to maintain strong warranties, the UCC allows for modifications or disclaimers, as long as they are communicated effectively to the buyer using clear language and are prominent enough to ensure the buyer is aware of them before the purchase. It is noteworthy, however, that some state laws may set specific limitations on the ability to disclaim or limit warranties.
In your college town, real estate developers are building thousands of new student-friendly apartments close to campus. If you want to pay the lowest rent possible, should you hope that demand for apartments is elastic or inelastic?
Answer:
Elastic
Explanation:
Elasticity is an economic concept used to measure the change in the aggregate quantity demanded for a good or service in relation to price movements of that good or service. A product is considered to be elastic if the quantity demand of the product changes drastically when its price increases or decreases. Conversely, a product is considered to be inelastic if the quantity demand of the product changes very little when its price fluctuates.
Final answer:
If you want to pay the lowest rent possible, you should hope for elastic demand for apartments. Elastic demand means that small changes in rent lead to large changes in the quantity of apartments demanded, which can result in competitive pricing and lower rents.
Explanation:
To determine if you should hope for elastic or inelastic demand for apartments to pay the lowest rent possible, it's important to understand that in the real estate market, elasticity refers to how much the demand or supply responds to changes in price. If the demand for apartments is inelastic, this means that changes in rent will have a small effect on the quantity of apartments demanded. On the other hand, if the demand is elastic, small changes in rent could lead to a significant change in the quantity demanded.
Considering the concepts of supply and demand, you should hope for elastic demand for apartments. If demand is elastic, then as new apartments are built and add to the supply, even a small reduction in rent could result in a large increase in the quantity of apartments demanded. This scenario is beneficial for you, as it leads to a competitive market where landlords may lower rents to attract tenants, thereby ensuring you pay less for rent.
Moreover, over time, if the supply curve is more elastic, it would mean that more apartments can be built or converted from other uses in response to rent changes. This increased supply would help to keep rents lower even as demand rises. Elastic supply implies that when developers see the opportunity to make a profit due to increased rent, they will be more likely to build new apartments, which increases supply and can help to stabilize or even lower the rent.
In the context of business ethics, a _____ perspective evaluates the degree to which the observed customs, attitudes, and rules within a business can be considered ethical.
Answer:
The correct answer is normative.
Explanation:
We know as business ethics the term that defines a corporate group that is formed by the norms, principles and values that are linked to the culture of the company. This set serves as a road map of the different actions that a business carries out. Its use provides several advantages, such as having the opportunity to create a better bond with society and to shape an invaluable asset that will represent the company both now and in the future. This type of ethics also applies to the private life of company executives.
In financial management, risk is referred to as the environmental factors that may affect a business adversely. internal factors that may disrupt the smooth functioning of a company. degree of uncertainty about the actual outcome of a decision. various strategies implemented by managers to increase returns.
Answer:
Option C The degree of uncertainty about the actual outcome of a decision.
Explanation:
The reason is that risk is the vulnerability of an desired outcome and which can be measured. So if toss a coin there are 50% chances that head will appear and I will loose money and 50 percent chances that tail will appear and I win money. So undesired outcome here is head appearing because I will loose money and it has 50% chances. So risk result in undesired outcome in an uncertain environment.
The going concern assumption:
a. Means that a business is accounted for separately from other business entities, including its owner.
b. Means that we can express transactions and events in monetary, or money, units.
c. Means that accounting information reflects a presumption that the business will continue operating instead of being closed or sold.
d. Presumes that the life of a company can be divided into time periods, such as months and years, and that useful reports can be prepared for those periods.
e. Prescribes that a company records the expenses it incurred to generate the revenue reported.
Answer:
B
Explanation:
Option c: the going concern assumption means that accounting information reflects a presumption that the business will continue operating instead of being closed or sold.
The going concern assumption is a fundamental principle in accounting and finance that allows businesses to prepare their financial statements with the expectation that they will continue to operate in the foreseeable future, rather than being liquidated or ceasing operations.
Let's break down the choices available based on your question:
a. Means that a business is accounted for separately from other business entities, including its owner.
This statement describes the entity assumption, not the going concern assumption.b. Means that we can express transactions and events in monetary, or money, units.
This refers to the monetary unit assumption, which is also not the going concern assumption.c. Means that accounting information reflects a presumption that the business will continue operating instead of being closed or sold.
This is the correct definition of the going concern assumption. It implies that the business is expected to continue its operations for the foreseeable future and thus can defer the recognition of certain expenses until a later date.d. Presumes that the life of a company can be divided into time periods, such as months and years, and that useful reports can be prepared for those periods.
This describes the time period assumption, which is different from the going concern assumption.e. Prescribes that a company records the expenses it incurred to generate the revenue reported.
This pertains to the matching principle in accounting, not specifically the going concern assumption.Firms are sometimes able to engage in price discrimination over time. Give an example of this form of price discrimination. A typical example of price discrimination over time would be when a companyA. charges higher prices for flat- screen plasma televisions when they are first introduced and lower prices later.B. charges men higher prices for DVD players than women.C. segments the market to charge more price-sensitive customers higher prices for digital cameras than less price-sensitive customers.D. buys iPods in one market at a low price and resells them in another market at a higher price.E. charges lower prices for hardcover editions of books than for paperback editions that are published months later.
Answer:
A. charges higher prices for flat- screen plasma televisions when they are first introduced and lower prices later.
Explanation:
Price discrimination is defined as a situation where a seller of a commodity sells the same commodity at differy prices to different buyers. It could be a different price for each unit sold, or a different price to different group of people.
Price discrimination over time is when a company sells a product for a price at one time and changes the price at another time.
This is exemplified by companies selling flat screen televisions at high price when they came out newly, and selling bat higher price later on.
Label each scenario with the term that best describes it. Use the midpoint method when applicable. Marcel Duchamp was a famous artist prior to his death, and was known for his Dada artwork, including works such as "Soft Toilet". All of his original sculptures and paintings go on sale. Paul owns a Tim Horton's, a famous donut and coffee franchise. He is willing to sell as many maple glazed donuts as customers want at a price of $1.00 each, but he refuses to sell any donuts for any price lower than $1.00. The price of facial tissues rises from $2.85 per box to $3.15. As a result, P&G increases production from 15 million boxes to 25 million boxes of facial tissue. With the school semester starting for both high school and college, Papermate chooses to increase production of pens from 38 million to 42 million after global prices of writing instruments increase from $1.90 a package to $2.10 a package. Bright Ideas increases its production of lightbulbs by 15% after a 400% increase in the price of fluorescent bulbs.a. elastic supply.b. perfectly inelastic supply.c. perfectly elastic supply.d. inelastic supply.e. unit-elastic supply.
Marcel Duchamp's artwork represents perfectly inelastic supply. Tim Horton's donuts represents perfectly elastic supply. P&G's tissue case represents elastic supply. Papermate's pens scenario represents inelastic supply and Bright Ideas' case represents unit-elastic supply.
Explanation:The scenario with Marcel Duchamp's artwork represents b. perfectly inelastic supply - as the quantity available of the original sculptures and paintings won't change regardless of their price (they cannot be reproduced). The second scenario with Tim Horton's shows c. perfectly elastic supply - the owner is willing to sell unlimited quantity of donuts at $1.00, but none below this price. The third scenario where the price of facial tissues increases causing an increase in production represents a. elastic supply - as the quantity supplied of tissues increases a lot due to increase in prices. The fourth scenario with Papermate is d. inelastic supply - as the production of pens increases very slightly even with an increase in price. The last scenario of Bright Ideas is an example of e. unit-elastic supply - as percentage change in quantity supplied is equal to percentage change in price.
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For Identified supply elasticities using given scenarios: Paul's donut supply is c., perfectly elastic, P&G's tissue supply is a., elastic, Papermate's pen supply is d., inelastic, Bright Ideas' lightbulb supply is a., elastic.
Here are the appropriate terms for each scenario using the midpoint method when applicable:
Paul (selling donuts for $1.00 each, refusing lower prices):
Perfectly elastic supply. Paul is willing to sell as many units as needed at exactly $1.00, indicating he won't adjust the quantity supplied for any price change, qualifying the supply as perfectly elastic.P&G (facial tissues production):
Elastic supply. The significant increase in production (from 15 million to 25 million boxes) in response to a moderate price increase (from $2.85 to $3.15) indicates a more than proportionate change in quantity supplied.Papermate (pen production):
Inelastic supply. A smaller increase in production (from 38 million to 42 million pens) in response to the price increase suggests less sensitivity to price, indicating an inelastic supply.Bright Ideas (lightbulbs):
Elastic supply. A 15% increase in production following a 400% price rise indicates significant responsiveness to price changes.When the price of apples goes up a. The demand for apples will decrease b. The demand for apples will increase c. The quantity demanded for apples will decrease d. The quantity demanded for apples will increase
Answer:
c. The quantity demanded for apples will decrease
Explanation:
The law of demand states that the higher the price , the lower the quantity demanded and the lower the price, the higher the quantity demanded.
Price and quantity demanded have an inverse relationship.
This explains why the demand curve is downward sloping.
If the price of apples is increased, apples become more expensive and consumers would reduce the quantity demanded.
I hope my answer helps you
Frank is a CPA who became interested in helping adults in some of the poorer neighborhoods file their taxes. He plans to start a tax filing center in a low-income area to help residents file their taxes at no cost. Frank’s center is an example of a(n)
Answer:
Nonprofit organization
Explanation:
Nonprofit organization ( NPO ) -
It refers to the institution which works for the betterment of the individual or group of people living in the society irrespective of their own profit , is referred to as a non profit organization .
It is also known as nonprofit institution and non-business entity .
These organisation works for the betterment of specific people .
These are the charitable and tax - exempted organisations .
Hence , from the given scenario of the question ,
The correct answer is Nonprofit organization .
Early in 2015, Mathew is analyzing shares of Janeff Corp. He expects the following dividends per share (end of year). 1. 2015: $1.00 2. 2016: $1.25 3. 2017: $1.50 He expects 2017 earnings per share to be $4.50 and Janeff's P/E ratio to be 20. His required rate of return for this stock is 12%. He should pay no more than:______.a) $66.68 per share. b) $71.17 per share.c) $93.75 per share.d) $76.15 per share.
He should pay no more than $66.68 per share
Explanation:
Given ,
1. 2015: $1.00
2. 2016: $1.25
3. 2017: $1.50
Earnings per share = $4.50
P/E ratio = 20
Required rate of return = 12%
Stock price per share expressed according to P / E ratio
P/E Ratio = Market Price per share ÷ Earnings per share
20 = Market Price per share ÷ $4.50
Market Price per share = 20 × $4.50
Market Price per share = $90
Earn 12% of return
So here you discount to present value all the planned dividend and market price. use as discount factor here a necessary rate of return
present value of all amounts = 66.7
So, maximum amount that is paid to earn 12% return is $66.7
Ronald suffers from dementia that impacts his brain function, but he also has healthy periods of time when his mind is fully functioning. During one of these healthy periods, Ronald enters into a contract, which he later seeks to avoid. In a majority of states, the contract will not be enforced because of Ronald's dementia.1. True2. False
Answer:
2. False
Explanation:
Capacity to a contract refers to whether the person to a contract is legally competent to enter into such a contract.
For instance, lunatics, drunkards, minors, criminals and person of unsound mind are deemed incapable of entering into a contract.
A person diagnosed with dementia, which impairs his decision making would normally be regarded as incapable to signing a contract.
But, capacity is ascertained as per the situation i.e at the time the contract is signed or entered into.
In the given case, Ronald entered a contract while he was sane and in healthy state of mind. His judgement at the time of entering such a contract wasn't impaired by dementia.
Thus, the contract will be legally enforceable as per the law.
Melrose Company has an investment in bonds issued by Roscoe Industries that are classified as available-for-sale securities. The bonds were purchased at par. On December 31, Year 2, the Investment in Roscoe bonds account had a debit balance of $200,000, representing its amortized cost, and its Fair value adjustment account had a credit balance of $5,000. On December 31, Year 3, the amortized cost of those bonds had not changed, but the fair value of those bonds was $225,000. Which of the following will be included in the related journal entry dated December 31, Year 3?
a. Debit to Fair value adjustment for $20,000
b.Credit to Fair value adjustment for $20,000
c. Debit to Fair value adjustment for $30,000
d. Credit to Fair value adjustment for $30,000
Answer:
c. Debit to Fair value adjustment for $30,000
Explanation:
The first step of accounting process is Journal entry and it is made to record the transactions for process of book keeping, it defines the accounts involved and effects of transactions on the account by debit or credit.
As the bond price is amortized earlier by 5,000 then its net realizable value was $195,000 ( $200,000 - $5,000 ). on December 31, year 3 the fair value adjusted to $225,000. so the adjusted value will be $30,000 ( $225,000 - $195,000 ). The journal entry is as follow
Dr. Cr.
Dec 31, year 3
Fair value adjustment account 30000
Unrealized gain on available for sale securities 30000
Final answer:
The correct journal entry for the fair value adjustment on December 31, Year 3, is a credit to Fair value adjustment for $20,000, reflecting the increase in the fair value of the bonds from the end of Year 2 to the end of Year 3.
Explanation:
The question pertains to adjusting the journal entry for the fair value change of available-for-sale securities at the end of the year. Since the amortized cost of the bonds did not change and remains at $200,000, and the fair value at the end of Year 3 is $225,000, the increase in fair value from the previous year-end is $25,000 ($225,000 - $200,000). At the end of Year 2, the fair value adjustment account had a credit balance of $5,000. To adjust this to the new fair value, an additional $20,000 (the difference between $25,000 and the existing $5,000 credit balance) must be recognized.
A credit entry to increase the fair value adjustment account by $20,000 will reflect the increased fair value of the bonds at the end of Year 3. The journal entry on December 31, Year 3, includes a credit to Fair value adjustment for $20,000, representing the increased fair value of the investment since it must equal the cumulative change from the amortized cost to the fair value.
On January 15, 2021, Bella Vista Company enters into a contract to build custom equipment for ABC Carpet Company. The contract specified a delivery date of March 1. The equipment was not delivered until March 31. The contract required full payment of $75,000 30 days after delivery. The revenue for this contract should be:________.recorded on April 30, 2021.
recorded on March 31, 2021.
recorded on January 15, 2021.
recorded on March 1, 2021.
Answer:
Option B-Recorded on March 31, 2021
Explanation:
The reason is that when the product is not actually delivered the company can not recognize the revenue just because the contract has been formed. So the company will only recognize the revenue when it will deliver its part to the customer which is the consideration (something that can be valued in $) delivery made to the customer. So the date that the consideration was paid to customer was the delivery receipt date which is March 31, 2021
Wanting to make the most effective use of your time, you schedule the weekly staff meeting at 9:00 A.M. According to suggestions in the text, this is an effective time for a weekly staff meeting.
a. True
b. False
Katie’s Construction Company has built a home in a new subdivision and it was sold 6 months after it was built, for $48,500. This amount reflected a depreciation amount of 3%. Knowing this, what was the original asking price on the home?
Answer:
$50,000
Explanation:
Data provided in the question
Sale value of the home = $48,500
Depreciation rate = 3%
This amount is come after considering the depreciation rate
So, let us assume the sale price be 100 and after deducting the depreciation it came 97% i.e 100 - 3%
So, the original asking price on the home is
= $48,500 ÷ 97%
= $50,000
Bellbird Corporation acquired an 80% interest in Honey Inc for $130,000 on January 1, 2014, when Honey had Capital Stock of $125,000 and Retained Earnings of $25,000. Bellbird's separate income statement and a consolidated income statement for Bellbird Corporation and Subsidiary as of December 31, 2014, are shown below.
Bellbird Consolidated
Sales revenue $150,000 $235,750
Income from Corporal 12,600
Cost of sales (60,000) (100, 000)
Other expenses (20,000) (50,000)
Noncontrolling interest income ( (3,150)
Net income $81,600 $81,600
Honey's separate income statement must have reported net income of:__________________.
Answer:
$15,750
Explanation:
The computation of the net income reported by two methods is shown below:
= Income from Corporal + Non-controlling interest income
= $12,600 + $3,150
= $15,750
Or we can one thing also
= Income from Corporal ÷ acquiring percentage
= $12,600 ÷ 80%
= $15,750
All other information that is mentioned in the question is not relevant. Hence, ignored it
Nalpas Inc., an apparel company, manufactures clothes for men, women, and children. It further divides its core customers according to demographic variables such as income, ethnic background, and family life cycle. These demographic variables are examples of _____.
Full question:
Nalpas Inc., an apparel company, manufactures clothes for men, women, and children. It further divides its core customers on the basis of demographic variables such as income, ethnic background, and family life cycle. In this context, these demographic variables are examples of _____.
a. positioning bases
b. segmentation bases
c. product classes
d. market positions
Answer:
In this context, these demographic variables are examples of segmentation bases
Explanation:
Segmentation bases are the dimensions that can be applied to fragment a market. A segmentation basis is described as an assortment of variables or features used to select dormant customers to analogous groups. Demographic segmentation is one of the usual recommended and commonly used varieties of market segmentation.
Segmenting based on identifiable group attributes, such as age, profession, matrimonial status and so on. Because demographic information is analytical and accurate, it is normally almost easy to reveal using various sites for market research.
A customer has $24,000 to invest in mutual fund shares. The registered representative advises the customer to invest $8,000 on ABCD fund; $8,000 in DEFF fund; and $8,000 in XYZZ fund; to give the customer complete diversification and reduce risk. These 3 funds all have different sponsors. This action is:________ A) appropriate for the customer B) a violation known as a breakpoint sale C) a violation known as spinning D) a violation known as interpositioning
Option B
This action is: a violation known as a breakpoint sale
Explanation:
Dividing consumer buying amounts will refuse the buyer the profit of the breakpoint. This is a crime recognized as a breakpoint sale. The whole amount should be spent in one fund or one fund family to provide the consumer with the most economical feasible sales cost. Since shared funds hold diversified responsibilities, the evidence that breaking the purchases additional raises diversification, and thus will decrease risk, is questionable. Mutual fund sales quantity refunds are possible when a client spends with a mutual fund family.
The recommended investment strategy of dividing funds among different mutual funds is known as diversification, which is appropriate and not a violation.
Explanation:The action taken by the registered representative to diversify the customer's investment portfolio into three different mutual funds is appropriate for the customer. The purpose of doing this is to distribute the customer's investment in a broad range of funds, thereby reducing risk. This practice, known as diversification, is a common investment strategy to maximize returns and minimize risks. The options related to 'breakpoint sale', 'spinning', and 'interpositioning' are types of violations in the securities industry, which do not apply to this situation, as each of these terms involve unethical or illegal actions.
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True entrepreneurs: a.hire professional managers to run their businesses. b.are professional managers whose job is running someone else’s business. c.undergo the process of planning and operating a business venture. d.assume less-than-total personal risk for the success or failure of the business.
Answer:
c.undergo the process of planning and operating a business venture
Explanation:
The definition of an entrepreneur is someone who seeks a market opportunity, and once it is found, starts a business with the goal of exploiting that market opportunity, investing capital and labor and incurring in financial risks, with the goal of obtaining a profit.
In other words, a true entrepreneur has to plan the way the business will be set up, including planning for capital, labor, and land costs. After the business is started, a true entrepreneur becomes the primary manager, which means that the operation of the business falls under his responsability.
Suppose Chris and Laura attend a charity benefit and participate in a silent auction. Each has in mind a maximum amount that he or she will bid for an oil painting by a locally famous artist. This maximum is called of:_________. a. deadweight loss. b. willingness to pay c. consumer surplus. d. producer surplus.
Answer:
b. willingness to pay
Explanation:
Willingness to pay is the term used for the economic value of the good to a person willing to buy under some given conditions. In this situation there is a silent auction which requires the evaluation of each participant for the price they think reasonable. The maximum amount that he or she will bid for the painting in absence of any comparison of prices will based their willingness to pay for it.
When an economy is temporarily operating at an output that is beyond its full-employment rate it means that
It means that excess demand in resource markets will lead to higher resource prices, which will increase costs and direct the economy toward full employment.
Explanation:
An economy’s full employment output is the highest production level when all available resources are used efficiently. It equals the highest level of production an economy can sustain for the long-run. It is also referred to as the full employment production which results in long term supply of the finished good.
When there is increased demand then eventually there will be an increase in the price and also costs of the production which leads the economy towards the full employment output as it is a sustainable output.
You are assigned to resolve a conflict between two departments of an organization. Both parties have equal power. Both parties are under time pressure to resolve the conflict. You also realize that the parties lack trust/openness for problem solving. You are actively searching for a middle ground between the interests of the two parties. Which of the following conflict resolution styles would you use in this situation
Answer:
Compromising
Explanation:
Compromising in problem solving looks for an expedient and mutually acceptable solution which is partially satisfactory to both parties engaged in the conflict.
The choice of Compromise becomes appropriate: When the goals are moderately important and not worth the use of more assertive or more involved approaches, such as forcing or collaborating.
In the scenario it is stated that ''You are actively searching for a middle ground between the interests of the two parties.'' hence such middle ground presupposes compromise as the preferred strategy for the conflict resolution.
In the last decade or so, there has been a dramatic expansion of small retail convenience stores (such as 7-Eleven, Kwik Shop, and Circle K), although their prices are generally much higher than prices in large supermarkets. The success of these convenience stores can be partially explained by__________.
Answer:
yes
Explanation:
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Which of the following is true about a T-Account? Group of answer choices Left hand side of the T-Account is called a debit. Left hand side of the T-Accounts is called a credit Right hand side of the T-Account is called a debit None are true.
Answer:
The statement which is true about a T - Account is : Left hand side of a T - Account is called a debit.
Explanation:
A T-Account is a ledger account used to record any profit or loss item (expense and incomes) as well as any balance sheet item (Assets,Liabilities or Equity).
Every T - Account consist of a A Debit or Credit Side.
Debit Side of a T- AccountThis side is used to record entries that depicts flow of resources into the business from and is represented by the Right Hand.
Credit Side of a T-AccountThis side is used to record entries that depict outflow of resources from the business and is represented by the Left Hand Side
So basically as the Accounting rule goes, " Debit the receiver and Credit the giver" The Debit is the receiving side and that is on your Left Hand Side.Whilst the Credit is your giving side and that is your Right Hand Side.
A T-Account is a balance sheet with a debit side on the left and a credit side on the right. Debits represent an increase in assets or a decrease in liabilities, while credits represent an increase in liabilities or a decrease in assets. The total of debits must always equal the total of credits in a T-Account.
Explanation:A T-Account is a balance sheet with a two-column format, with the T-shape formed by the vertical line down the middle and the horizontal line under the column headings for Assets and Liabilities. The left hand side of the T-Account is called a debit, which represents an increase in assets or a decrease in liabilities. The right hand side of the T-Account is called a credit, which represents an increase in liabilities or a decrease in assets. In a T-Account, the total of debits must always equal the total of credits.
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Corporate-level strategies are strategies a firm uses to diversify its operations from a single business competing in a single market into several product markets and, most commonly, into several businesses. T/F
Answer:
The correct answer is False.
Explanation:
The business strategy is the plan devised by management at the start of each new project to direct staff, carry out tasks, fulfill commitments and achieve set objectives. Simply put, business strategy sets the tone and defines the future of any organization. The success of companies depends on its design, execution and evaluation.
Which "Quality of Product" dimension would you be assessing when asking the question, "For any dimension that cannot be observed directly, does the product seem like a high-quality product?"
Perception is the "Quality of Product" dimension that would ask the question,"For any dimension that cannot be observed directly, does the product seem like a high-quality product?"
Explanation:The quality of any product or service is very important for any firm to get success. The dimensions of quality helps in the determination of the quality of any product or services. It considers many aspects in determining the quality of any goods or services. These includes, Performance, conformance, reliability, features, durability, aesthetics, serviceability and perception.
When we become aware of some products of services with the help of our senses refers to the term perception. It can be sensed either with the helps of the words that we hear about any product or how we see a product, etc. Thus it is the perception, a dimension of quality that can not be observed.
The question aims to assess the 'entirely subjective' dimension of product quality, which is based on personal experiences and feelings of customers about the product.
Explanation:Assessing Product QualityWhen asking the question, "For any dimension that cannot be observed directly, does the product seem like a high-quality product?", you are assessing a dimension of product quality that is entirely subjective. This assessment does not rely on objective measures or technical specifications but on the personal feelings and experiences of the customer. The quality of a product is ultimately determined by the customer, based on their experience with it and in comparison to their requirements, which may be stated or only sensed. Factors that contribute to this view of quality include whether the customer finds the product technically operational and if the product aligns with their personal determination of quality, which can be fluid and change over time.
It is important to remember that the assessment of quality is not a technocratic exercise, but rather an evaluation that takes into consideration the customer's feedback, expectations, and experiences. Companies must continuously solicit and react to customer feedback to effectively deliver products that meet changing customer needs. Therefore, understanding the entirely subjective aspect of product quality is crucial for ensuring customer satisfaction and the product's success in the market.
A company increases the price of its clock radios by 10 percent and the company's total receipts fall significantly. What term best describes the demand for its product
Answer:
Price elasticity of demand Relation
Explanation:
The reason is that the price and demand are inversely proportional to each other. If the price of the product increases the demand of the product will decrease and vice versa. So this means that if the organization wants to generate maximum profit then it will have to set a price that generate maximum demand which means which generates maximum profit. The Bugatti is very expensive and the result is that very fewer people own it in the world but the Mercedes with an above average price has customers in millions, Honda has more than million customers because it is priced average. So the thing is that the pricing matters in deciding how much of the total customers you want.
The U.S. Bureau of Economic Analysis (BEA) has recently adopted a new approach to calculate real GDP and real GDP growth to correct the problems of the fixed weights approach. One of the features of the new approach is that, now BEA uses
One of the features of the new approach is that, now BEA uses the geometric average of fixed weight indexes and uses two base years to calculate the growth rate of real GDP between two consecutive years.
Explanation:
In both actual and nominal GDP, the U.S. Economic Analysis Department results. It estimates the real United States. GDP is a fixed base year annual rate. Imports and international sales from American businesses and people are exempt.
GDP reflects the degree to which the economy generates production. Global warming is not generated and not part of GDP. The effect of environmental damage is not measured accurately. The loss should not be included in GDP and the calculation of environmental damage has not been accepted.
True or False: The LIFO Conformity Rule states that if the LIFO method is used for income tax purposes, it can not be used for financial statement purposes.
Answer:
FALSE
Explanation:
The LIFO conformity rule requires taxpayers that elect to use LIFO for tax purposes to use no method other than LIFO to ascertain the income, profit, or loss for the purpose of a report or statement to shareholders, partners, or other proprietors, or to beneficiaries, or for credit purposes.
Hence the IRS requires that the same method for income tax purpose be used for financial statement purpose
Technician A says a fleet shop is usually connected with either a business that runs multiple vehicles or with equipment that is maintained and repaired in house. Technician B says government agencies such as a city or county would not be examples of fleet operations. Who is correct
After reading through the statements made by both the technicians, it can be concluded that the Technician A is absolutely correct about the significance of fleet operations.
What is the significance of fleet operations?Fleet operations can be referred to or considered as the operations carried in a small-sized departmental store dealing in the sell and purchase of products under any categories related thereto.
Fleet is a small center established by a firm in order to provide multiple operations of different kinds under one roof. It is similar to the formation of the local governments and its agencies operating at city or county-levels, however, only for the purpose of comparison.
Therefore, the significance regarding fleet operations has been aforementioned.
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Final answer:
Technician A is correct about fleet shops being connected to businesses or organizations with multiple vehicles or in-house maintenance. However, Technician B is incorrect; government agencies do qualify as examples of fleet operations. These agencies maintain fleets of vehicles and equipment that require systematic, expert maintenance.
Explanation:
Technician A is correct; a fleet shop is typically associated with a business or organization that operates multiple vehicles or maintains and repairs equipment in-house. Fleet operations often include the systematic and organized maintenance of a collection of vehicles or equipment, and it can relate to a variety of entities including private companies, service providers, and even government agencies. Technician B, however, is incorrect. Government entities such as city or county services certainly can be and often are examples of fleet operations. They maintain and manage various vehicles and equipment necessary for public services and personnel such as police cars, fire trucks, and public transportation. These agencies typically follow scheduled maintenance and repair protocols to ensure efficiency and safety of their operations.
Technicians in fleet shops are similar to mechanics and possess practical, hands-on knowledge that allows them to maintain and repair vehicles and equipment effectively. Their expertise is crucial for fleet operations to maintain continual service and avoid significant downtimes.