Answer:
B) it fell by $116 million
Explanation:
If during 2004 the city was able to raise $20 million with a 4% income tax, then the city's income base was:
($20 million / 4%) x 100 = $500 million
If during 2005 the city was only able to raise $19.20 million with a 5% income tax, then the city's income base lowered to:
($19.20 million / 5%) x 100 = $384 million
This means that the city's income base was reduced by $116 million (= $500 million - $384 million)
An organization takes active countermeasures to protect its systems, such as installing firewalls. This approach is known as ________. A. risk acceptance B. risk transference C. risk elimination D. risk reduction E. risk rescheduling
Answer:
D. risk reduction
Explanation:
Risk reduction is a hazard management technique that aims at minimizing potential losses. In risk reduction, a company evaluate its business process to identify possible threat areas. The company then implements measures that will mitigate losses should the risk event occur.
Risk reduction lessens the impact of known hazards. This particular organization has identified potential risks associated with internet usage. It is vulnerable to online attacks either by hackers or malicious software program. By installing firewalls, the organization reduces potential losses related to online attacks.
Check Cashing Business. Susan owns and operates a check cashing business. A customer, Bob, claiming to be Sam, came in and cashed a $2,000 check issued by ABC Trucking to Sam. The day after Susan cashed the check, she received a notice from ABC Trucking that some checks had been stolen. It was later discovered that the customer had forged Sam's name on the check issued by ABC Trucking. At the time she took the ABC Trucking check, Susan was very busy with several customers in line. She simply glanced at the check and cashed it. A reasonable examination would have revealed that the check had been materially altered and changed from the amount of $200 to $2,000. Susan decided that she needed to hire some people to help her because she also had a problem with another check. On the same day that she took the ABC Trucking check, she took a check from another customer, Maurice. It was later discovered that the check from Maurice, which was four months old, was the subject of a dispute between Maurice and the issuer of the check for whom Maurice had done some work. The issuer claimed that the work was improperly done. Both ABC Trucking and the issuer of the check to Maurice stopped payment on the checks. Susan claims that she was entitled to the status of a holder in due course and was entitled to payment on both checks. What is the effect of Susan receiving notice the day after she cashed the check for Bob that the check had been stolen?
Answer:
Since the check was altered (it was originally a $200 check and was altered to seem like a $2,000 check), then Susan cannot be considered a holder in due course.
A holder in due course of a check would be a person that receives a third party check in good faith without knowing any possible claim or defect.
If the check had been stolen and wasn't altered to change its value, then Susan could have claimed to be a holder in due course of the check since she was notified later about the theft.
According to the University of Michigan studies, leaders who are production oriented are described as emphasizing interpersonal relationships and as taking a personal interest in the needs of their followers. True or false?
Answer:
False
Explanation:
Leaders who are production oriented have their focus on getting a task done and getting result, not bothered on employees' welfare and what challenges may arise. They do not emphasize interpersonal relationship and no interest in the needs of their followers.
Which of the following quotations illustrates the Tragedy of the Commons?
a. "A bird in the hand is worth two in the bush."
b. "The only difference between the rich and other people is that the rich have more money."
c. "What is common to many is taken least care of, for all men have greater regard for what is their own than for what they possess in common with others."
d. "Anyone who is not a socialist before he is 30 has no heart; anyone who is still a socialist after he is 30 has no head."
Answer:
The correct answer is option c.
Explanation:
The tragedy of the commons is an economic problem in which individuals' rational decisions lead to collective irrationality. The individual consumers want to maximize their satisfaction so they consume a common resource in the way to maximize utility or satisfaction. But collective consumption in this manner leads to overconsumption of resources.
Individuals take better care of the resources they privately own than the common resources. Individuals focus on their wellbeing instead of the collective welfare of society and ignore social welfare in the process of maximizing their personal welfare.
Which of the following statements is TRUE with regard to gross margin?
A. Gross margin is equal to net sales less cost of goods sold.
B. Gross margin is another term for net income.
C. Gross margin is equal to revenues less operating expenses.
D. Gross margin is the top line of the income statement.
ANSWER: (A)
EXPLANATION: Gross margin is the difference between revenue and cost of goods sold divided by revenue. Gross margin is expressed as a percentage. Generally, it is calculated as the selling price of an item, less the cost of goods sold. Gross Margin is often used interchangeably with Gross Profit, but the terms are different.
Gross margin is equal to net sales less cost of goods sold is true with regard to gross margin. Thus, option (a) is correct.
What is the cost?
The term cost refers to the actual money are spent on the manufacturing of the product. The product are manufacture to spend on money are raw material, transportation, wages, salary, and other expenses add. The all expenses are added to identify the cost.
The difference between revenue and cost of goods sold is the gross margin, which is divided by revenue. The gross margin is given as a proportion. In general, it is computed as the selling price minus the cost of products sold. The terms gross margin and gross profit are sometimes used interchangeably, however, they are not the same.
As a result, the gross margin is equal to net sales less cost of goods sold is true with regard to gross margin. Therefore, option (a) is correct.
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In 1979 and 1980
a. the U.S. inflation rate as measured by the GDP deflator was higher than that measured by the CPI, and the difference was explained by rapidly rising prices of goods exported by the U.S
b. the U.S. inflation rate as measured by the CPI was higher than that measured by the GDP deflator, and the difference was explained by rapidly rising prices of goods exported by the U.S
c. the U.S. inflation rate as measured by the GDP deflator was higher than that measured by the CPI, and the difference was explained by rapidly rising oil prices
d. the U.S. inflation rate as measured by the CPI was higher than that measured by the GDP deflator, and the difference was explained by rapidly rising oil prices
Answer:
D) the U.S. inflation rate as measured by the CPI was higher than that measured by the GDP deflator, and the difference was explained by rapidly rising oil prices
Explanation:
During the 1970s there was a very strong correlation between oil prices and the CPI. Oil is essential to our economy, since it is used in so many different ways, e.g. fuel, plastics, heating, etc. The oil prices increased from $15.85 per barrel on April 5, 1979 to $39.50 per barrel on March 3, 1980. That is a huge increase (149%) for only one year.
The CPI more than doubled during the 1970s, increasing from 41.20 in 1972 to 86.30 in 1980 (109% increase). It had previously taken 24 years for the CPI to double before that decade. That is a huge increase in inflation even if you compare it to more modern day inflation. The CPI for 2018 was 251, so in the last 38 years it increased by 190% and inflation has been an issue several times in the last decades.
The Wacky Widget company has total fixed costs of $100,000 per year. The firm’s average variable cost is $10 for 10,000 widgets. At that level of output, the firm’s average total costs equala. $10 b. $100c. $150 d. $15
Answer:
$20
Explanation:
Average total cost (AC) equals summation of average variable cost (AVC) and average fixed cost (AFC). Average fixed cost is calculated by division of total fixed cost (TFC) by number of widgets (N)
AC=AVC+AFC= AVC-TFC/N = $10+ $100,000/10,000 = $20
Explanation of fixed costs, average variable costs, and average total costs.
Total fixed costs: Fixed costs that do not vary with output level.
Average variable cost: Variable costs divided by the quantity of output produced.
Average total costs: The sum of average fixed costs and average variable costs.
Destin Corp is comparing three different capital structures. Plan A would result in 10,000 shares of stock and $90,000 in debt. Plan B would result in 7,600 shares of stock and $198,000 in debt. The all equity plan would result in 12,000 shares of stock outstanding. The interest rate on debt is 10%, and the EBIT is $48,000. If Destin Corp has a tax rate of 40%, which of the three plans has the highest EPS?
Answer:
All equity plan (12,000 shares with an EPS of $2.40)
Explanation:
Plan A (10,000 shares):
interest = $90,000 x 10% = $9,000
net income = (ebit - interest) x (1 - 40%) = ($48,000 - $9,000) x 60% = $23,400
earnings per share (EPS) = $23,400 / 10,000 shares = $2.34 per share
Plan B (7,600 shares):
interest = $198,000 x 10% = $19,800
net income = (ebit - interest) x (1 - 40%) = ($48,000 - $19,800) x 60% = $16,920
earnings per share (EPS) = $16,920 / 7,600 shares = $2.23 per share
All equity plan (12,000 shares):
net income = ebit x (1 - 40%) = $48,000 x 60% = $28,800
earnings per share (EPS) = $28,800 / 12,000 shares = $2.40 per share
_____ is defined as the quality of a research report that is based on clear and logical thinking, precise expression, and accurate presentation. Group of answer choices
Subjectivity
Generalizability
Desirability
Believability
Objectivity
Final answer:
Objectivity is the quality of a research report based on clear, logical thinking and accurate presentation without bias. It ensures the credibility of the study by preventing misinterpretation of findings. Objective research reports use clear language, correct citations, and compare their findings with previous research.
Explanation:
The quality of a research report that is characterized by clear and logical thinking, precise expression, and accurate presentation is best defined as objectivity. Objectivity in research means that the study is conducted and its findings are presented without any distortion or bias, especially personal bias. This is critical because any form of bias could lead to a misinterpretation of the research findings, therefore impacting the trustworthiness and credibility of the study.
An objective report must demonstrate not only a comprehensive understanding of the research purpose but also a consistent awareness of the audience and community expectations. The language used in an objective report is clear and appropriate, and citations are correctly included to acknowledge sources accurately. Ensuring that methodologies are likely to yield objective data, that sufficient data support the conclusions drawn, and that the work is compared with other pertinent research are all aspects that enhance the objectivity of a research report.
Phillip owns a large real estate firm. He imparts training to the managers of the firm to help them effectively manage its multiethnic workforce. He places emphasis on being flexible and being able to negotiate and solve problems. The managers also receive training on conflict resolution. In the given scenario, Phillip uses _____.
A. skills-based diversity trainingB. diversity awareness trainingC. supervisory diversity trainingD. readiness-based diversity training
Answer:
A. skills-based diversity training
Explanation:
Based on the information provided within the question it seems that Phillip is using skill based diversity training in this scenario. This refers to a training approach that focuses on dealing with diversity in multiethnic workforces and providing the necessary skills to solve various types of problems within them. Which is exactly what is happening in this situation.
Answer:skills based diversity training
Explanation:
A marketing manager wants to know why her sales are down. She talks with several sales reps and finds that a competitor has introduced a successful new product. This "research" is likely to be part of ________.
The research done by the marketing manager is part of market research, which helps businesses make decisions about selling, improving, or promoting products by gathering information about customers and competitors.
The "research" conducted by the marketing manager, which involved talking to several sales reps and identifying that a competitor has introduced a successful new product, is likely part of market research. Market research is conducted to guide businesses in making decisions on how to sell, improve, or promote their products or services. This type of research can involve gathering information about customers, competitors, or the overall industry to understand market conditions better and make informed decisions.
Selected information from Curl Up and Dye Salon's accounting records and financial statements for 2018 is as follows ($ in millions):
A) Cash paid to acquire equipment $20
B) Treasury stock purchased for cash 22
C) Proceeds from sale of land and buildings 45
D) Gain from the sale of land and buildings 16
E) Investment revenue received 33
F) Cash paid to acquire office equipment 40
On its statement of cash flows, the company should report net cash flows from investing activities of:
A) $15 million net outflow
B) $37 million net outflow
C) $30 million net inflow
D) $1 million net inflow
Answer:
A) $15 million net outflow
Explanation:
The preparation of the cash flows from the investing activities are shown below:
Cash flow from Investing activities
Cash paid to acquire equipment - $20 million
Proceeds from sale of land and buildings $45 million
Cash paid to acquire office equipment -$40 million
Net Cash flow from Investing activities -$15 million
All other transactions are related to the operating activities and financing activities. So, it is not relevant for the computation part. Hence, ignored it
Blue Ridge Bank has a PM of 12 percent, an interest income to total assets ratio of 6.00 percent, and a noninterest income to assets ratio of 1.50 percent. Blue Ridge also has $9 in assets per dollar in equity capital. Blue Ridge's ROE is:
Answer:
8.10%
Explanation:
Blue Ridge's return on equity (ROE) is how much profit does Blue Ridge's investors earn for every dollar they invested in the company.
The formula used to calculate ROE is:
ROE = PM x (total assets ratio + noninterest income) x (Assets per dollar in equity capital)
ROE = 12% x (6% + 1.5%) x $9 = 8.10%
Blue Ridge's ROE is 8.1%
Blue Ridge's return on equity (ROE) is how much profit Blue Ridge's investors earn for every dollar they invest in the company.
To find the Return on Equity (ROE) for Blue Ridge Bank, we can use the following formula:
The formula used to calculate ROE is:
ROE = PM x (total assets ratio + noninterest income) x (Assets per dollar in equity capital)
Substituting the values -
ROE = 12% x (6% + 1.5%) x $9
= 8.10%
The notion that there is a tradeoff between inflation and unemployment is expressed as a
Answer:
Phillips curve
Explanation:
The notion that there is a trade-off between inflation and unemployment is expressed by a Phillips curve.
Phillip curve states that there is a negative relationship between inflation and unemployment.
If competitive market circumstances are such that there is some leader-follower price competition, some product differentiation, and the purpose of advertising is to inform, but avoid price competition, then we must be operating in a(n):
Answer:
Oligipoly
Explanation:
Oligopoly market is characterised by:
1. Few large firms
2. Firms set their prices together which is known as a cartel or through price leadership where a firm sets the market price.
3. Firms engage in advertisement.
4. Firms avoid price competition.
An example of an oligopoly is OPEC. OPEC is a cartel.
A(n) _____ broadly defines an organization's purpose—what it is seeking to achieve from its activities—identifies what is unique or important about its products to its employees and customers, and also distinguishes or differentiates the organization in some ways from its competitors.
А. businessplan
B.mission statementC.SWOTanalysis
D.general advertisement
E.strategic plan
Answer:
(B) mission statement
Explanation:
A mission statement broadly defines an organization's purpose—what it is seeking to achieve from its activities—identifies what is unique or important about its products to its employees and customers, and also distinguishes or differentiates the organization in some ways from its competitors.
The common stock of Detroit Engines has a beta of 1.34 and a standard deviation of 11.4 percent. The market rate of return is 11.5 percent and the risk-free rate is 4 percent. What is the firm's cost of equity?
A. 10.05 percent
B. 12.98 percent
C. 14.05 percent
D. 15.50 percent
E. 15.67 percent
Answer:
The firm's cost of equity is C. 14.05 percent
Explanation:
Hi, we need to use the following formula in order to find the cost of equity of this firm.
[tex]r(e)=rf+beta(rm-rf)[/tex]
Where:
r(e) = Cost of equity
rf = risk free rate
rm = Market rate of return
Everything should look like this.
[tex]r(e)=0.04+1.34(0.115-0.04)=0.1405[/tex]
So, this firm´s cost of equity is 14.05%
Best of luck
The firm's cost of equity can be calculated using the Capital Asset Pricing Model (CAPM) formula, resulting in a cost of equity of 14.05%.
The firm's cost of equity can be calculated using the Capital Asset Pricing Model (CAPM). The formula is: Cost of Equity = Risk-Free Rate + Beta*(Market Rate of Return - Risk-Free Rate). Plugging in the values given: Cost of Equity = 4% + 1.34*(11.5% - 4%) = 4% + 1.34*7.5% = 4% + 10.05% = 14.05%
Cainas Cookies had the following information reported for 2015:
Revenues $100,000
Expenses $40,000
Preferred Dividends $10,000
Common Dividends $20,000
Preferred shares outstanding - 10,000 shares, $100 par value
Common shares outstanding - 50,000 shares, $1 par value EPS is:
A. $1.20 per share
B. $1.00 per share
C. $.60 per share
D. $.50 per share
Answer: B. $1.00 per share
Explanation:
Revenue- expenses = profit
$100000 - $40000 =$60000
Profit - pref.shareholder
$60000 - $10000 = $50000
EPS = residual / ordinary shareholding
EPS = $50000/50000shares
EPS = $1
Central bank policy requires all banks to hold 10% of deposits as reserves. Pacific Bank policy prevents it from holding excess reserves. Suppose banks cannot trade any of the bonds they already have. If the central bank decides to lower the reserve requirement to 9%, which of the following will result?
A. the money supply in the economy decreases
B. decrease of $1 million in Pacific's net worth
C. increase of $1 million in Pacific's loan assets
D. increase of Pacific's bond assets by $1million
Answer:
C. increase of $1 million in Pacific's loan assets
Explanation:
If Pacific Bank does not hold excess reserves, then a decrease in the reserve requirement from 10% to 9% will render more money with the bank to lend.
Therefore, This will increase Pacific's ability to make loans.
Final answer:
Lowering the reserve requirement from 10% to 9% allows banks like Pacific Bank to lend out the excess reserves, thereby increasing its loan assets but not affecting its net worth or bond assets. The correct answer is an increase of $1 million in Pacific's loan assets (C).
Explanation:
When the central bank lowers the reserve requirement from 10% to 9%, banks are allowed to hold less money in reserves and can therefore use more of their deposits for lending or purchasing assets. Pacific Bank, which does not hold excess reserves by policy, would now have additional funds available to create loans because their reserve requirement has decreased. This would lead to an increase in their loan assets.
Specifically, if Pacific Bank was previously required to hold 10% and now only needs to hold 9%, the additional 1% of the deposits can be lent out. This does not directly change Pacific Bank’s net worth or bond assets but increases its loan assets, which in turn can increase the money supply in the economy through the money creation process that banks participate in.
Therefore, the correct answer to what will result from the central bank lowering the reserve requirement to 9% for Pacific Bank is:
C. increase of $1 million in Pacific's loan assets
The introduction of a four day week leads to increased productivity particularly among young workers by improving job satisfaction." In this statement, improving job satisfaction is the:A. Independent VariableB. Dependent VariableC. Intervening VariableD. Moderating Variable
Answer:
C. Intervening Variable
Explanation:
Based on the information provided within the question it seems that in this scenario Job satisfaction would be considered an intervening variable. This is a hypothetical variable used in order to explain the cause and effect relationship between two other variables. Which in this case would be the four day week leading to increased productivity. An intervening variable cannot be observed when conducting experiments which is why it is hypothetical.
Al works as a cement finisher for a parking lot repaving company. He is suspicious of innovation and innovators. He was one of the very last people in the small Western city in which he lives to buy a microwave oven. When it comes to the adoption of microwave ovens, Al is in the _____ category.
Answer:
Al is in the late majority category.
Explanation:
Late majority refers to consumers that are not willing to buy a product until they are sure it has a good performance as they don't want to take risks. These people tend to be resistant to change and they will buy a new product only when most people have already done it. According to this, Al is in the late majority category because he was one of the last people to buy a microwave in the city he lives in and he is suspicious of innovation.
George Washburn had earnings from his salary of $40,000, interest on savings of $1,150, a contribution to a traditional individual retirement account of $1,200, and dividends from mutual funds of $380. George's adjusted gross income would be:___
Answer:
$40,330
Explanation:
Data provided in the question:
Earnings from salary = $40,000
Interest on savings = $1,150
Contribution to a traditional individual retirement account = $1,200
Dividends from mutual funds = $380
Now,
The George's adjusted gross income would be
= Salary + Interest on savings + Dividends from mutual funds - Contribution
= $40,000 + $1,150 + $380 - $1,200
= $40,330
You are working with your project team to schedule activities for your construction project. You have the carpet installation activity may begin. The relationship between the painting activity and carpet instalionacvity can atwity lo be can best be described as_____________.a. Lag.b. Lead.c. Finish-to-start.d. Start-to-finish
Answer:
c.
Explanation:
Based on the information provided with regards to the situation at hand it can be said that the relationship between these two is a Finish-To-Start relationship. This refers to having to finish something in order to be able to start the next part. Which is exactly the case in this scenario, since the painting activity must be finished first and only then can the carpet installation activity can begin.
_____ is the affirmative selection and acquisition of products and services that most effectively minimize negative environmental impacts over their life cycle of manufacturing, transportation, use, and recycling or disposal.
Answer: EPP (Environmentally preferable purchasing)
Explanation:
The EPP is stand for the environmentally preferable purchasing and is refers to the product which are purchased by reducing all the negative effect and also increase the level of positive effect on the environment and also on the health of the humans.
The environmentally preferable purchasing is also known as the green purchasing and green sustainable and it is Eco-friendly for the environment.
It is one of the affirmative selection that minimizing all the negative impact on the environment and producing high quality product.
The following data is available for Metlock, Inc. at December 31, 2020: Common stock, par $10 (authorized 26000 shares) $234000 Treasury stock (at cost $15 per share) $1200 Based on the data, how many shares of common stock are outstanding?
Answer:
23,400 shares
Explanation:
The total number of authorized shares is 26,000, but that doesn't mean that all these shares have been issued or are outstanding. The total number of shares issued = shares outstanding + treasury stock.
Since the shares must be recorded at par value in the common stock account, we need to divide the total value of the account by the par value of each share = $234,000 / $10 = 23,400 shares
One difference between B2C and B2B e-commerce is that the: a. B2B transaction involves little or no negotiation. b. B2C transaction involves customers with larger amounts of money to spend at one time. c. B2C transaction typically involves extensive and careful research while the B2B transaction tends to be less rational. d. B2C transaction tends to be smaller when compared to B2B.
Answer:
(d). B2C transaction tends to be smaller when compared to B2B.
Explanation:
(B2B) business-to-business is shorthand for “business to business.” It refers to sales you make to other businesses rather than to individual consumers. Sales to consumers are referred to as “business-to-consumer” sales or B2C.
(B2C) business-to-consumer refers to the process of selling products and services directly between consumers who are the end-users of its products or services. Most companies that sell directly to consumers can be referred to as B2C companies
Arnold Marion, a firstminus year economics student at Fazer College, was given an assignment to find an example of price discrimination and present it to his class. When asked for his example Arnold said "I went to a Milwaukee Brewers baseball game with my cousin last week. We paid $25 each for our seats in left field. My aunt and uncle paid $50 each for their tickets; they sat five rows behind the first base dugout. This is an example of price discrimination since we paid different prices for the same product, and the differences were not due to differences in costs." How would Arnold's economics instructor assess Arnold's example
Answer:
Arnold made a mistake since the $25 seats are not the same product as the $50 seats. It is not the same to be sitting behind the first base dugout or sitting at the end of left field.
Sometimes you can get better seats for the same price as not so good seats, like in a movie theater, but a baseball field is much bigger and the quality of the show (baseball game) varies a lot depending where you are sitting.
Arnold's economics teacher would point out that his example doesn't demonstrate price discrimination but price differentiation, as the different ticket prices are justified by the different seating locations.
Explanation:Arnold Marion's economics instructor would likely explain that Arnold's example is not an instance of price discrimination but rather, price differentiation based on product characteristics. Price discrimination in economics takes place when a seller charges different prices to different buyers for the same good or service, with no cost-based justification for the price differences. However, in Arnold's example, there is indeed a significant difference in the product - the location of the seats. This results in different experiences for the buyers (Arnold and his family) and hence, justifies the different prices. The price difference is not arbitrary; it's a result of perceived value difference by the consumers.
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The most common driver for insourcing is to: Group of answer choices
a) Keep employees loyal to the company.
b) Make a system that cannot be bought.
c) Develop internal skill sets.
d) Maintain control over the development of the system.
e) Keep core competencies in-house.
Answer: Option E
Explanation: In simple words, it refers to a strategy under which an organisation takes back the activities that were previously outsourced. In this process, the organisation tires to use their own resources and skills to accomplish those tasks which were previously performed by some other firms.
There are many reasons why organisation go for in sourcing but the main reason is when they want to retain their core competencies to themselves. For example - many luxury automobile manufacturers do not outsource their designing department as their design and style is their key component.
Cherry is injured in an accident caused by Bronco. Bronco agrees to pay Cherry $2,500 if she agrees to release him from further liability. Cherry agrees. If Cherry’s damages ultimately exceed $2,500, she can________.
A. collect the balance from Bronco in a breach-of-contract suit.
B. collect the balance from Bronco in a tort suit.
C. collect the balance from Bronco on the ground of unforeseen events.
D. not collect the balance from Bronco.
Answer:
D) not collect the balance from Bronco.
Explanation:
Since Cherry agreed to sign a compensatory agreement worth $2,500 with Bronco, and stated that she would release him from any further liability, then that contract is enforceable by Bronco. In case Cherry wants to collect any further amount of money for any type of possible unforeseen damage, all Bronco must do is present the signed agreement that released him from any further liability.
Answer:
d
Explanation:
Jax Company uses a perpetual inventory system and on November 30 purchased merchandise for which it must pay the shipping charges. Which of the following is one part of the required journal entry when Jax pays the shipping charges of $200? a). a debit to freight-out for $200 b). a debit to inventory for $200 c). A debit to Delivery Expense for $200 d). A debit to cash for $200
Answer:
b). a debit to inventory for $200
Explanation:
The journal entry is shown below:
Inventory A/c Dr $200
To Cash A/c $200
(Being the shipping charges is paid for cash)
Under the perpetual inventory account, all the expenses which are incurred to bring the product to the destination have come under the inventory account. So, we debited the inventory account and credited the cash account