Answer:
B. Shrink-wrap Agreement
Explanation:
First, the multiple options
A. Standard license agreement
B. Shrink‐wrap agreement
C. Click‐wrap agreement
D. Verbal agreement
Shrink-Wrap Agreements are legally binding licensing agreements that are usally packaged with products. The licensing agreement is an undertaking that allows a producer to package its product in an enclosed or sealed shrink or plastic wrap that can only be viewed or inspected by the user or consumer after purchase is made.
In other words, since the licensing agreement is enclosed in the wrapped case of the product and the consumer can only access this agreement leaflet after purchasing the product then it does not require that the reading or acceptance or acknowledment of the agreement prior to purchase.
Example of these type of products include pharmaceutical products where the agreement leaflet can only be accessed after the plastic wrapping is unsealed after purchase. This agreement would usually contain specific conditions such as limitations, rigth of ue, warranties and licenses.
Using the acquisition method, a company acquires all of the shares of stock of another company. In-process research and development is present and estimated to have a $300,000 fair value. How would you account for these costs?
A) Always expense these costs at the acquisition date
B) Expense these costs unless such costs represent assets with alternative future use
C) Recognize these costs as an intangible asset and amortize the cost over a reasonable life
D) Recognize these costs as an intangible asset and test for impairment
E) These costs have no impact on the purchase.
Answer:
D) Recognize these costs as an intangible asset and test for impairment
Explanation:
Given that
The estimated fair value of the research and development = $300,000
Since the research and development estimated fair value treated as an intangible asset that is cannot be seen or touched but it would be recognized in the financial statements as an impairment test like as goodwill which is also an intangible asset plus it also use for impairment test.
Final answer:
In-process research and development costs acquired in a business combination should be recognized as an intangible asset and tested for impairment until the project's outcome is known.
Explanation:
When using the acquisition method to account for a business combination, and in-process research and development (IPR&D) is present with an estimated fair value of $300,000, the accounting treatment for these costs should be in line with the financial reporting standards. Specifically, the correct answer is:
D) Recognize these costs as an intangible asset and test for impairment.
This is because the recognized IPR&D should be treated as an indefinite-lived intangible asset until the completion or abandonment of the associated R&D efforts. At each reporting date, and until the project is completed or abandoned, the company should test the IPR&D for impairment. Once the project is completed, the asset is considered definite-lived and should be amortized over its useful life. If the project is abandoned, the costs are expensed.
In a purely competitive industry:
a. There will be no economic profits in either the short run or the long run.
b. Economic profits may persist in the long run if consumer demand is strong and stable.
c. There may be economic profits in the short run, but not in the long run.
d. There may be economic profits in the long run, but not in the short run.
Answer:
C. There may be economic profits in the short run, but not in the long run.
Explanation:
Perfect Competition is a market structure with very large no of buyers & sellers, transacting homogeneous products, at same price (firms 'price taker') & inelastic demand, with free entry & exit into industry.
Economic profit is the profit earned above normal profit - covering revenues over explicit & implicit costs, necessary to continue business operations.
Free entry & exit into Perfect Competition Industry makes them earn only normal profits - no super normal (economic) profit , abnormal loss in long run
Short Run Economic Profits : Induces new firms entry and supply increases, reducing the industry & firms' price. This reduces their profit & resumes back the normal profits.
Similarly - Short Run Abnormal Losses : Induce existing firms exit, will reduce supply, increase price & profit, resume back to normal profits.
In a purely competitive industry, there may be economic profits in the short run, but not in the long run. Short-term profits can result from high demand, cost advantages, etc., but these attract more firms, increasing competition and eventually leading to only normal profits.
Explanation:In a purely competitive industry, option c is correct: there may be economic profits in the short run, but not in the long run. This is because in the short term, companies can realize economic profits due to factors such as high consumer demand, cost advantages, product differentiation, and more. However, these profits attract other firms into the industry, increasing competition. As more firms enter, the price reduces until it reaches a level where only normal profits are made. A normal profit is wherein the return on investment is just sufficient to keep entrepreneurs in the business, without any extra incentive for risk-taking in the long run.
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Convenience products typically use a. digital distribution. b. short marketing channels. c. intensive distribution. d. exclusive distribution. e. selective distribution.
Answer:
c. Intensive distribution
Explanation:
Convenience goods refers to those goods which are purchased conveniently without thinking much. For example grocery purchases.
Convenience goods are frequently purchased by the consumers.
Channels of distribution refers to the medium via which goods are transferred from the manufacturers to it's consumers. All the activities in the middle of this cycle form the channel of distribution such as wholesalers, intermediaries, retailers etc.
For convenience goods, an intensive channel is usually used which means making convenience goods available at as many places as possible since these are the goods which are frequently purchased.
So it means to make such goods available in as many outlets as possible, i.e intensively distributed.
The demand for cigarettes is highly inelastic. This suggests that the incidence of a higher tax on cigarettes will fall primarily on:______. A) Government. B) Cigarette sellers. C) Cigarette consumers
Answer: C. Cigarette consumers.
Explanation: The demand for Cigarette is highly inelastic. When tax is imposed on Cigarette by the government, sales price is increased by the full amount of tax courtesy of the producers thereby transferring the tax burden to consumers.
Adam Smith a. and David Ricardo both opposed free trade. b. opposed free trade, but David Ricardo supported it. c. supported free trade, but David Ricardo opposed it. d. and David Ricardo both supported free trade.
Answer:
Adam Smith;
d. and David Ricardo both supported free trade
Explanation:
A free market is a market where international trade relations is subjected minimal interference from the government. Government interference are usually in the form of tariffs, quotas and other restrictions. Adam Smith was a staunch advocate of free trade. He argued that people were ca[able of reasoning and thus should object to unreasonable government regulations on them. Using the policy of Laissez-Faire which argued that government intervention on the economy should be minimal. According to Smith, the natural laws of supply and demand should take cause to balance the market properly.
David Ricardo was also a strong advocate for free trade. He use the theory of comparative advantage to prove his point. The law of comparative advantage states that one needs when one country can produce a good or service at a lower cost than the other country, then they have comparative advantage over that country. Therefor they will produce more of that good that they have an advantage over as compared to another good or service that is more costly. This law he argued could be used in international free trade.
We can conclude that Adam Smith and David Ricardo supported the concept of free trade.
Answer:
uhhhh
Explanation:
c?
A company provides customer support for new products and for routine maintenance of existing products. These cases have many identical stages and fields, however, the maintenance cases are unique and have additional stages and fields that need to be captured. Which two features would meet this requirement?
Answer:
A company provides customer support for new products and for routine maintenance of existing products. These cases have many identical stages and fields, however, the maintenance cases are unique and have additional stages and fields that need to be captured. The two features would meet this requirement are:
Record TypesSupport TypesExplanation:
Record Types in Salesforce allow you to provide different picklist values, business processes and page layouts to different users. For example, you can create different record types to differentiate your regular sales deals from your professional services engagements, offering different picklist values for each.Support Types are used to add or remove the "status" picklist values. A support process is determined by the the picklist values available in the status of a case record type. We can modify the status field only in a support process as we are unable to customize it on record type.Joanne sells silk-screened T-shirts at community festivals and craft fairs. Her marginal cost to produce one T-shirt is $ 5.50 . Her total cost to produce 70 T-shirts is $ 465 comma and she sells them for $9 each. a. Find the linear cost function for Joanne's T-shirt production. b. How many T-shirts must she produce and sell in order to break even? c. How many T-shirts must she produce and sell to make a profit of $700?
Answer:
Hey there!!
1) C(x) = 80 + 5.50x
2) 22.86 ≅ 23
3) 222.86 ≅ 223
Explanation:
1) C(x) = FC + V(x)
465 = FC + 5.50 * 70
FC = 465 - 385
FC = 80
C is Total Cost
FC is Fixed Cost
V is Unit Variable Cost
We know that the variable cost is 5.50 per unit and that total cost for producing 70 T-shirts is $465.
By replacing in the formula and clearing, we can find out the value of the fixed cost of production and complete the total cost function.
2) First, we calculate the unit margin contribution
c = P - V
c = 9 - 5.50
c = 3.50
c is Unit Margin Contribution
P is Price
V is Unit Variable Cost
then we calculate break-even point
[tex]X= \frac{TFC}{c}\\\\X= \frac{80}{3.5} = 22.86[/tex]
TFC is Total Fixed Cost
c is Unit Revenue
3) using the break-even point, we can calculate
[tex]X= \frac{TFC}{c}\\\\X= \frac{80+700}{3.5} = 222.86[/tex]
An attractive industry is one that is characterized by high entry barriers, suppliers and buyers with strong bargaining power, low threats from substitute products, and low rivalry among firms.True/false
Answer:
False.
Explanation:
An attractive industry are not one that is characterized by high entry barriers, suppliers and buyers with strong bargaining power, low threats from substitute products, and low rivalry among firms.
An industry is defined by a group of firm that produce good and service, which are close subtitute and bargaining power of supplier are not considered as entry barrier to a firm in the open market. Industry with high fixed cost can pose high degree of rivalry among firm.
On December 31st, Management decides to sell one piece of equipment with a historical cost of $15,000, and accumulated depreciation of $3,000. At the end of its useful life this equipment was previously deemed to have no salvage value. Cash proceeds on this sale were $10,000.
Transaction has not been recorded.
Answer:
The transaction is not recorded so we will record the transaction. The accounting entry to record diposal is given below.
Debit Cash Asset $ 10,000
Debit Accumulated Depreciation $ 3,000
Debit loss on disposal $ 2,000
Credit equipment Cost $ 15,000
At World Spice Market, Inc., the department manager uses a hand-held scanner to determine the quantity of each spice the store has on its shelves, how many jars of each spice was sold the past week and the past month, and exactly when the next shipment of these spices is expected to arrive. World Spice Market embraces the strategy of ______
Answer: Using the technology to stay responsive to the customer requirement
Explanation:
According to the given question, the world spice market is one of an organization that embrace the different types of strategies of using the technology for staying more responsive as compared to others according to the actual needs of the customers.
We can also improve the company services such as communication, website services and also the software of an organization so that the company stay more responsive in the market. They an also easily determine the each spice quantity.
Therefore, The above given answer is correct.
The department manager at World Spice Market, Inc. utilizes supply chain management strategies by using a hand-held scanner for inventory and sales tracking, optimizing the flow of spices from supply to customer, and enhancing customer service and efficiency.
At World Spice Market, Inc., the department manager's use of a hand-held scanner to track inventory levels, sales data, and shipment schedules signifies the company's engagement in supply chain management. This strategy involves optimizing the flow of products from suppliers to customers by leveraging technology and data analytics to make informed decisions on inventory and distribution.
For example, similar to the tactics used by PepsiCo and Kraft USA, the manager is equipped to adapt to sales trends and prevent stock-outs or excess inventory, thereby enhancing customer service and operational efficiency. These companies utilize data and real-time analytics to tailor their distribution and inventory strategies, highlighting the significance of customer intimacy in today's market.
Which of the following is not one of the factors holding companies back from implementing HR SaaS solutions to efficiently transform and improve the HR function?a. Securityb. Quality of servicec. Concern about integration with inhouse applicationsd. Costs
Answer: (D) Costs
Explanation:
The human resource management is one the most important department in an organization that perform various types of function. The HR management effectively used the SaaS (Software-as-a-Service) solutions for improving the various types of human resource function n an organization.
By using the SaaS solutions we can also oversee all the activities done in the company as it is one of the most unified tool.
According to question, the costs is not included as the factor holding method for implementing the human resource SaaS solutions in an organization.
Therefore, Option (D) is correct answer.
Which of the following are financial assets, and which are real assets? a.A patent. b.A share of stock issued by Wells Fargo Bank. c.A blast furnace in a steelmaking factory. d.A mortgage loan taken out to help pay for a new home. e.After a successful advertising campaign, potential customers trust FedEx to deliver packages promptly and reliably. f.An IOU ("I owe you") from your brother-in-law.
Financial assets: b. A share of stock issued by Wells Fargo Bank, d. A mortgage loan taken out to help pay for a new home, f. An IOU from your brother-in-law.
Real assets: a. A patent, c. A blast furnace in a steelmaking factory, e. After a successful advertising campaign, potential customers trust FedEx.
The classification of assets into financial or real assets depends on their nature and characteristics:
Financial Assets:
a. A patent: This is a financial asset. It represents intellectual property rights and has a financial value that can be bought, sold, or licensed.
b. A share of stock issued by Wells Fargo Bank: This is a financial asset. It represents ownership in a company and can be bought or sold in financial markets.
d. A mortgage loan taken out to help pay for a new home: This is a financial asset. It represents a financial claim on the borrower's home and can be bought and sold in financial markets.
e. After a successful advertising campaign, potential customers trust FedEx to deliver packages promptly and reliably: This is not a financial asset.
It represents a reputation or goodwill, which is an intangible asset but not a financial one.
f. An IOU ("I owe you") from your brother-in-law: This is a financial asset. It represents a financial claim on your brother-in-law, indicating that he owes you money.
Real Assets:
c. A blast furnace in a steelmaking factory: This is a real asset. It represents a physical asset used in the production of goods and services.
When Hamdi Ulukaya and his employees worked for 18 months to create the purest cup of Greek yogurt possible, his team was creating a new ______________.A. priceB. promotionC. placeD. productE. property
Answer: D. Product
Explanation:
A product is an article or substance manufactured for consumption to satisfy needs or sales. The Chobani Greek style Yoghurt was created to satisfy America's high quality Yoghurt need.
______ early decisions significantly affect the way an entrepreneurial venture is received and the manner in which the new-venture team takes shape.
Answer:
Founders'
Explanation:Founders' decision plays a significant role in setting the new venture set up. For this setting, the founders' quality and size of the foundation team are the most important pillars.
The decision on foundation i.e time at which venture has to start is decided by the collective decision of the founder's team. The major of the team is to bring a candidate that is full of enthusiasm, talent, self-determination, etc.
During the starting phase of any new firm is very crucial hence qualities of founders play a very important role during early time of the company.
When the demand for an initial public offering (IPO) of securities exceeds the number of securities issued, the offering is deemed to be:___________ A) Oversubscribed B) Undersubscribed
Answer:
A) Oversubscribed
Explanation:
An IPO is described as oversubscribed when the demand for the shares on offer exceeds the stock available. The interest in the IPO by investors is very high that the shares on offer cannot meet the demand. The degree of the over-subscription is expressed by a multiple. For example, Company XYZ shares are oversubscribed two times.
An oversubscribed share will often transact at a higher price when trading begins. A company whose shares have been oversubscribed can take advantage and offer more shares. Over-subscription contrasts under-subscription, which is a situation of low demand for an IPO that results in some shares not being bought.
U Co. had cash purchases and payments on account during the current year totaling $455,000. U's beginning and ending accounts payable balances for the year were $64,000 and $50,000, respectively. What amount represents U's accrual-basis purchases for the year?
Answer:
$441,000
Explanation:
The U Co. accrual- basis purchases for the current year can be determined using the following mentioned formula:
Accrual basis purchases=ending accounts payable balance+Cash paid for purchases during the current year-opening accounts payable balance
Accrual basis purchases=$50,000+$455,000-$64,000=$441,000
A shoe company's ads feature the members of a popular country music band. Product sales increase significantly among the band's fans. From the fans' viewpoint, the band is a ________. Group of answer choices a) membership b) group reference c) group subculture d) laggard.
Answer:
The correct answer is option (B).
Explanation:
According to the scenario, the most appropriate answer is option (B) because the member of the music band when it comes to advertisement wearing particular company shoes, it becomes a reference for the fans of that band and shoe company sales increases.
While the other options are not appropriate because of the following reasons:
Membership is a concept to get a subscription or become a customer but the scenario doesn't show any type of membership with the band. Group subculture is incorrect because subculture is a concept where there are differences within the same culture. Laggard is incorrect because the members of the band is not copying anyone.Mary Parker Follett’s contribution to administrative theory was emphasizing the need for worker participation, ______, and ______.
a) conflict resolution; fairness.b) fairness; shared goals.c) shared goals; distinct operating activities.d) conflict resolition; shared goals.
Answer:
d) conflict resolution; shared goals.
Explanation:
Mary Parker Follett’s contribution to administrative theory was emphasizing the need for worker participation,conflict resolution, and shared resolution.
Mary Parker Follett, or the "Mother of Modern Management," presumed that management was "the creative work of getting people to do things for you." .. Follett exercised those coordination principles, which helped establish her management theory called direct contact.
Write a statement that increments total by the value associated with amount . That is, add the value associated with amount to that associated with total and assign the result to total .
Answer:
total = total + amount
Explanation:
The statement that increments total by the value associated with amount i.e add the value associated with amount to that associated with total and assign the result to total is:
total = total + amount
Suppose the cost of flying a 100-seat plane for an airline is $50,000 and there are 10 empty seats on a flight. The marginal cost of flying a passenger is
Answer:
Cannot be determined
Explanation:
Given information
Cost of flying a 100 seat plane = $50,000
Number of empty seats on a flight = 10 seats
By this above information, we cannot determine the marginal cost of flying a passenger as full information is not given
But from this above information, we can find out the average cost which is not need be computed
The marginal cost of flying a passenger is $555.56.
Explanation:The marginal cost of flying a passenger is the additional cost incurred by the airline for carrying one more passenger on a flight.
In this case, the total cost of flying the plane is $50,000 and there are 10 empty seats. Therefore, the cost per passenger can be calculated as follows:
Cost per passenger = Total cost / Number of passengers
Number of passengers = Total seats - Empty seats = 100 - 10 = 90
Cost per passenger = $50,000 / 90 = $555.56
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True or False. The difference between Q3 (quartile 3) and Q1 (quartile 1) is referred to as the IQR (interquartile range) and is a measure of the middle 50% of our data.
Answer: True
Explanation:
The interquartile range is also known as midspread and it is the between the first and third quartile (25th and 75th percentile respectively) serving as a robust measure of sample dispersion.
Interquartile range (IQR) = Q3 - Q1
As a measure of variability, it is based on splitting data sets into quartile (four equal portions). The values differentiating these portions are known as the first, second, and third quartile which are represented as Q1, Q2, and Q3, respectively.
True, the IQR is the difference between Q3 and Q1, indicating the spread of the middle 50% of data.
True, the difference between Q3 (quartile 3) and Q1 (quartile 1) is referred to as the IQR (interquartile range) and is a measure of the middle 50% of our data. The IQR is specifically calculated by subtracting Q1 from Q3. For example, if Q3 is 9 and Q1 is 2, the IQR would be 7 (9 - 2 = 7). This statistical measure is useful for identifying the spread of the central portion of the data set and for determining potential outliers. A data point is considered a potential outlier if it is more than 1.5 × IQR above Q3 or less than 1.5 × IQR below Q1.
Both perfectly competitive and monopolistically competitive industries have many firms, in fact so many that, in the long run________________.
Answer:
They end up earning normal profits only and that their economic profits are competed away
Explanation:
Both perfectly competitive and monopolistically competitive industries do have many firms.
The above statement does hold true.
paint firms that operates in a monopolistic competitive industry and has been holding over 80 percent market share for the past 5 decades ,
However, in the past few years new emerging brands offered better prices and increased their network, and have focused on increasing their market share resulting in reduction in the share of the dominant
This clearly shows that being in the industry for a long time definitely results in a change in firm's dominance.
Talking about the firms under perfectly competitive markets an example of goldsmith market there are many shops in the market for so many years.
But , due to increased quality and services two shops might have gained a significant market share and now can be stated as next to duopolies of the market they operate in.
With just the time spent in the market and changing trends firms have an impact on their share.
It is thus clearly conclusive that competitive markets firms do exist in the industry.
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If a market basket was defined in 2014 and it cost $10,000 to purchase the items in that basket in 2014, while it cost $11,000 to purchase those identical goods in 2015, then the price index for 2015 is _________.
Answer:
110
Explanation:
The computation of the price index is presented below:
= (Cost of purchase those identical goods in 2015) ÷ (Cost to purchase the items in 2014) × 100
= ($11,000) ÷ ($10,000) × 100
= ($11,000) ÷ ($10,000) × 100
= 110
We simply applied the above formula so that the price index could come by considering the cost of 2014 and cost of 2015
The amount of time between the recognition that an order needs to be placed and the arrival of the needed merchandise at the seller's store to be available for sale is referred to as___________.
Answer:
lead time
Explanation:
Lead time -
It refers to the time period between the initiation and the completion of a particular process , is referred to as lead time.
In case of ordering any object , the time period after ordering , and then receiving the object , is known as the lead time.
In a business , the time of manufacturing any item , packaging and delivering is the lead time .
Hence , from the scenario of the question,
The correct term is lead time.
Macy's (the department store chain) classifies its clothing held for sale as A. raw materials inventory. B. finished goods inventory. C. work in process inventory. D. merchandise inventory.
Answer: Merchandise Inventory
Explanation:
Merchandise inventory are finished products purchased by a business for which they plan to sell at a higher price than cost price. The clothing held for sale at Macy's department store is an example of merchandise inventory.
Comparable property "A" has central air conditioning worth approximately $2,000. Comparable property "B" does not. The subject property does not have central air conditioning. To adjust, an appraiser should:________.
To adjust, an appraiser should: Subtract air conditioning value ($2,000) from comparable "A" to make it more like the subject property. Adjust comps to the subject. Never adjust or change the subject property
Explanation:
The comparable properties are adjusted so that they show that they are higher or lower. Settlements on comparable characteristics are calculated, not on the subject. You will then add or subtract changes for positive or negative characteristics if a comp was sold for 180,000 dollars .
There are three kinds of approaches to value, and they include the approach of sales comparison, costing and revenue capitalization.
The approach of comparison of revenues is the most common approach for the valuation of immobilization.
Mike supervises the work of employees working the night shift in an auto manufacturing company. Most of Mike's time is spent on quality control, scheduling workers, and training new employees. Mike can be categorized as a:___________.
Answer:
First line manager
Explanation:
First line managers are responsible for operation of their departments by assigning tasks, managing work flow, monitoring the quality of work, dealing with employee problems, and keeping the middle managers and executive managers informed of problems.
In this case, Mike is doing exactly that by supervising the work and dealing with quality control, handling employee issues.
Zinc Co.’s adjusted trial balance at December 31, Year 6, includes the following account balances: Common stock, $3 par $600,000 Additional paid-in capital 800,000 Treasury stock, at cost 50,000 Net unrealized holding loss on available-for-sale securities 20,000 Retained earnings: Appropriated for uninsured earthquake losses 150,000 Retained earnings: Unappropriated 200,000 What amount should Zinc report as total equity in its December 31, Year 6, balance sheet?a. $1,680,000
b. $1,720,000
c. $1,780,000
d. $1,820,000
Answer:
a. $1,680,000
Explanation:
The computation of the total equity is shown below:
= Common stock + Additional paid-in capital + Appropriated for uninsured earthquake losses retained earnings + Unappropriated retained earnings - treasury stock - Net unrealized holding loss on available-for-sale securities
= $600,000 + $800,000 + $150,000 + $200,000 - $50,000 - $20,000
= $1,750,000 - $70,000
= $1,680,000
By definition, the money market involves the buying and selling of ________. A. shortminus term securities B. secured premium notes C. stocks and bonds D. all financial instruments except derivatives
Answer:
A. short term securities
Explanation:
By definition, the money market involves the buying and selling of short term securities.
Money market refers to the trade in short-term loans that happens between banks and other financial institutions. It is a mutual fund that invests in short-term debt securities like treasury bills and commercial paper. This can happen on wholesale or retail level. On wholesale level, trade happens in large-volumes between institutions and traders while on retail level, it trade happens between money market accounts opened by bank customersand individual investors.
The money market involves the buying and selling of short term securities
Money market is one of the most important part of of the financial market as it involves the buying and selling of securities of short-term maturities, of one year or less e.g. as treasury bills
Conclusively we can therefore say that Money market is simply the trading in very short-term debt investments or securities.
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Genève is a member of the board of directors and the chief financial officer of the corporation. Under the duty of care that she owes that corporation, she does NOT need to:
a. attend board meetings and oversee the corporation's employees and other officers.
b. attend presentations and make a careful study of business choices before making decisions.
c. oversee every aspect of the business, including such things as ordering merchandise and arranging for janitorial services.
Answer:
The correct answer is c."oversee every aspect of the business, including such things as ordering merchandise and arranging for janitorial services."
Explanation:
The chief financial officer is the person in charge of the financial administration of the organization, their tasks are focused on planning, implementing and analyzing the financial information of the company. Therefore, a chief financial officer like Genevieve does not get involved in activities such as ordering merchandise and arranging for janitorial services.