Answer: Option (C)
Explanation:
Here, from the given options the correct option is (C). Corporate governance is referred to as the system or method through which organizations are both directed by the employees at the top hierarchy and thus controlled by the shareholders. There are several benefits of having a strong corporate governance, the option (C) is one of them. Since the strong corporate governance induces the capability of performing strategically especially against the competition.
Nick has a comprehensive health care policy with a $250 per-calendar-year deductible, an 80% co-insurance provision, and a $1,000 copayment cap per calendar year. In January, Nick had a $600 claim for which the insurance company paid $280. Nick experiences another unrelated claim in October resulting in total bills of $5,000. How much will Nick have to pay for the second claim?
a. $5,000
b. $3,930
c. &1,800
d. $930
Answer:
Nick pay maximum $930
so correct option is d. $930
Explanation:
given data
health care policy = $250
co-insurance provision = 80 %
it mean claim to be paid by insurance company = 80%
and claim to be paid by Nick = 20 %
co payment cap = $1,000
claim insurance = $600
company paid = $280
total bills = $5,000
to find out
How much will Nick have to pay for the second claim
solution
we get first amount to be paid by insurance company and nick is
amount to be paid by insurance company and nick = $600 - $250
amount to be paid by insurance company and nick = $350
and
we know here 80% of $350 paid by insurance company
so paid by insurance company = 80% of $350 = $280
and paid by Nick = $350 - $280 = $70
so Limit available to co payment = $1000 - $70
Limit available to co payment = $930
so Nick pay maximum $930
so correct option is d. $930
Nick will need to pay $930 for the second health insurance claim. After accounting for the deductible he already met and applying the 20% co-insurance rate to the second claim, his payment falls under the $1,000 copayment cap for the year.
Explanation:To calculate how much Nick will have to pay for the second health insurance claim in October with total bills of $5,000, we need to consider the deductible, the co-insurance, and the copayment cap for the calendar year. Nick has already met his $250 deductible with the first claim in January and also encountered some of the co-insurance. For the second claim, he's responsible for 20% co-insurance until he reaches his $1,000 copayment cap for the year.
First claim:
Total bill: $600Deductible paid: $250Remainder: $350Insurance pays 80%: $280Nick pays 20%: $70Second claim in October (ignoring the $250 deductible which is already met):
Total bill: $5,000Co-insurance (20% of $5,000): $1,000However, Nick's co-insurance payments already include $70 from the first claim, so for the second claim: $1,000 - $70 = $930Since Nick's co-insurance payments for the year have not yet reached the copayment cap, he is responsible for the $930. Therefore, Nick will have to pay $930 for the second health insurance claim.
The Nissan assembly plant in Tennessee purchases several thousand unassembled parts for automobiles and then performs final assembly of the vehicles before delivering them to dealers all over the nation. Purchasing parts several days or weeks before they are assembled would increase the total cash outlay the plant has tied up in inventory at any given time. In order to reduce the expense of large inventories, most assembly plants have successfully adopted __________ inventory systems.
a. balanced
b. strategic alliance
c. just-in-time
d. rotational
Answer:
c. just-in-time
Explanation:
Just-in-time (JIT) is an inventory management strategy that eliminates to need to hold high volumes of stocks. In JIT, materials are purchased to coincide with the production process. Materials bought will not be kept in the stores but will go into the production process right away.
Should the Nissan team adopt the JIT strategy, it will not require to invest a lot of money in inventory purchases. It will only buy the parts needed for a specific production run. Nissan will free up cash that would be held in components kept in stores. The company will eliminate the possibility of the parts getting damaged while in the store. The management of the Nissan team will have to be extra careful not to run out of stock at production time.
Which of the following statements about public relations is true?
A. Public relations is not considered a management function.
B. An effective public relations program continues over months or even years.
C. Public relations has the same objectives as product and service promotion.
D. Public relations deals only with the activities designed to sell a product or service.
E. Typically, shorter forms of public relations and publicity are interchangeable functions."
Answer:
A. Public relations is not considered a management function.
Explanation:
The true statement about public relations among the options is: An effective public relations program continues over months or even years. Public relations is a key management function, has different objectives than product promotion, deals with more than just selling a product or service, and is not interchangeable with publicity.
Explanation:Certainly, it's important to understand each aspect of Public Relations. When we address the statements given:
A. This statement is incorrect as Public relations is indeed considered a critical management function in many organizations. B. This is correct, an effective public relations program is ongoing and may continue over months or even years in order to maintain and foster a positive image of the organization. C. This is not entirely accurate. While both public relations and promotion aim to enhance an organization's image and increase public awareness, their objectives can differ. Public relations focuses more on building long-term relationships with stakeholders, whereas promotion is more short-term and sales-focused. D. No, Public relations involves more than just selling a product or service — it deals with the overall reputation, image, and perception of the company amongst its various stakeholders (customers, employees, investors, the general public, etc.). E. This is not valid. Public relations and publicity are related but are not interchangeable. The main difference lies in control and purpose — public relations is a planned and sustained effort, whereas publicity often deals with singular issues and companies have little control over it. Learn more about Public Relations here:
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Cook Builders manufactures custom furniture only and uses a job order costing system to accumulate costs. Actual direct materials and direct labor costs are accumulated for each job, but a predetermined overhead rate is used to apply manufacturing overhead costs to individual jobs. Manufacturing overhead is applied on the basis of direct labor hours. In computing a predetermined overhead rate, the controller estimate that manufacturing overhead costs for the year would be $200,000 and direct labor hours would be 20,000. The following summary information is available for the year.
Raw materials purchased during the year were $275,000.
Raw materials used in production during the year were $250,000.
Wages paid to the furniture craftsmen during the year totaled $440,000 (22,000 hours).
Wages paid to factory maintenance workers during the year totaled $60,000.
Depreciation on machinery and equipment during the year totaled $90,000.
Rent and utilities for the factory building during the year totaled $45,000.
Manufacturing overhead was applied to work-in-process inventory using the predetermined overhead rate.
Work-in-process inventory costing $850,000 was completed and transferred to finished goods inventory.
Goods costing $800,000 were sold.
Assume that the beginning balance in the finished goods inventory account was $0. What is the ending balance of the finished goods inventory account?
A. $800,000
B. $25,000
C. $50,000
D. $75,000
E. $850,000
Answer:
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Explanation:
nfnffnloulo;loip;;/'[[[[;/,.m/./,/./.,/.,/m;/;jolikujtdhrbfdbdgnhfyjui,kik,tujryhtgrfgrgrehgtyrjumkutkyrjthgwrwgtehyhmj,khgwgrgtehmmtkyjtdvefrg
Answer:
C. $50,000
Explanation:
Work-in-process inventory costing $850,000 was completed and transferred to finished goods inventory.
Goods costing $800,000 were sold.
Assume that the beginning balance in the finished goods inventory account was $0.
From the above information, we can deduct the goods costing from the inventory costing
850000-800000
$50000 is the ending balance of the finished goods inventory account
Assume that your firm has a potential investment project which generates a return of 15% and has a cost of $200,000. Assume further that your firm has $200,000 of retained earnings and that the market interest rate is 10%. In this case, your firm should:
Answer:
Invest in the new project that generate a 15% rate of return
Explanation:
Our firm can decide to either:
Alternative A: invest the $200,000 in bonds or other stock that generates the market interest rate of 10% = $20,000 earnings per year.Alternative B: invest the $200,000 in the new project and receive a 15% rate of return = $30,000 earnings per year.If the company decides to invest the $200,000 in the new project its earnings will increase by $30,000 per year, which is $10,000 more than other investments that can generate market interest rate.
A 4PL, commonly referred to as a lead logistics provider, is a trucking company that also provides tracking servicesa) true b) false
Answer:
False
Explanation:
4PL is the term used for fourth party logistics. It has nothing to do with a truck company. Rather it refers to the party of logistics services provider who provides the services in which it further takes the charge of goods from 3rd party of logistics service provider.
It not only delivers the goods but rather provides the entire facility of storage and care in the entire process.
This basically is not a function of trucking company, but a company which manages the goods transportation in complete sense. It even includes insurance during transportation many times.
If Year 1 income tax expense equals $1,000, Year 2 equals $1,920, and Year 3 equals $1,893, the percentage to be assigned for Year 2 in a trend analysis, assuming that Year 1 is the base year, is ________ percent.
A :101B :it cannot be calculatedC :192
D :189
Answer:
192
Explanation:
Given: Income tax expense for 3 years.
Finding percentage of trend analysis for the year 2.
Base year is the year 1.
Now, as we know the base year is 1st which has income tax expense $1000.
Finding percentage in trend analysis for the year 2, which has income tax expense $1920.
Percentage of year 2 in a trend analysis = [tex]\frac{\textrm{tax expense of year 2}}{\textrm{ tax expense of base year}} \times 100[/tex]
⇒ Percentage of year 2 in a trend analysis= [tex]\frac{1920}{1000} \times 100= 192\%[/tex]
∴ The percentage to be assigned for year 2 in trend analysis is 192.
One reason L.L. Bean moved to an unstructured, NoSQL, big data environment was because the firm's customer engagement had evolved to include some 30 different customer engagement channels.
A) True
B) False
Answer:
The correct answer is True.
Explanation:
we can define a NoSQL database as one that does not require fixed data structures such as tables; They do not fully guarantee ACID features and scale very well horizontally. They are used in distributed environments that must always be available and operational and that manage a significant volume of data.
We could summarize the main features of a NoSQL database as follows:
The standard language does not have to be SQL The data scheme is flexible or does not have a predefined scheme, which allows the processing of heterogeneous data ACID properties are not always guaranteed Greater consistency between program and database data Designed to be generally scalable horizontally They are usually distributed They are often open source with large development communities behindFresh Seasonal Fruit Company has assets of less than $10 million and fewer than fifty shareholders. Gourmand Pastries, Inc., has assets of more than $50 mil-lion and more than five hundred shareholders. The Securities Exchange Act of 1934 applies toa. Fresh Seasonal Fruit and Gourmand Pastries.b. Fresh Seasonal Fruit only.c. Gourmand Pastries only.d. neither Fresh Seasonal Fruit nor Gourmand Pastries.
Answer:
c. Gourmand Pastries only
Explanation:
The Securities Exchange Act of 1934 (SEA) purpose is to govern the transactions in the financial markets. It guarantees the accuracy of availed financial data and fights to eliminate fraud and manipulation in dealing.
The US securities and exchange commission( SEC), is the regulatory arm of the SEA. The SEC regulates investments instruments, professionals, and the firms that trade in the financial markets. Public listed companies must adhere to the rules and regulations set by the SEC. The acts also require SEC to monitor financial reporting of corporates that have more than $ 10 million in assets and with over 500 shareholders.
Your bagel company has a market share of 7% of area breakfast sales and you have a goal to increase that to 10% in 1 year. The market has $3,500,000 in breakfast sales per year. How much must you increase sales to achieve your goal?
Answer:
$105,000
Explanation:
The total sales are 3,500,000, and the current market share is 7%.
3,500,000 * 0.07 = $245,000
The goal is to increase the market share to 10%
3,500,000* 0.10 = $350,000
The difference between original sales and the target sale is
245,000 – 350,000 = $105,000
An increase of $105,000 is required to achieve a market share of 10%
Suppose that a company is a price taker and sells its product for $15 each. This tells us that the firm is participating in the market structure known as _______________ and that marginal revenue is ___________ for each unit sold.a.monopoly; less than $15b.perfect competition; less than $15c.monopolistic competition; equal to $15d.perfect competition; equal to $15
Answer:
perfect competition; equal to $15
Explanation:
A Perfect competition industry is characterised by :
1. Firms that are price takers - They do not set price but prices are set by the forces of demand and supply.
2. Prices are equal to marginal revenue and average revenue.
3. plenty buyers and sellers.
4 free entry and exist of firms.
A monopolistic industry is chartcerised by :
1. Firms that are price makers.
2. Plenty buyers and sellers.
3. Price and average revenue are less than the marginal revenue
A monopoly is characterised by :
1. Firms that are price makers.
2. One seller
3. Price and average revenue are less than the marginal revenue
When the economy suffers a permanent negative supply shock and the central bank does not respond by changing the autonomous component of monetary policy, then A. inflation will be lower. B. output will be at its potential. C. output will be lower. D. inflation will not change. E. both B and C.
Answer:
The correct answer is (C)
Explanation:
A supply shock negatively effects the inventory stock of an item or product which leads to increase in the overall holding cost. A positive inventory shock leads to an increase in the overall inventory, while a negative shock decrease the output which leads to increase in the overall cost of goods and services. A negative shock can increase the overall prices of goods and services.
Sahara Company's Cash account shows an ending balance of $650. The bank statement shows a $29 service charge and an NSF check for $150. A $240 deposit is in transit, and outstanding checks total $420. What is Sahara's adjusted cash balance?
A. $291
B. $829
C. $471
D. $470
Answer:
C. $471
Explanation:
The computation of the adjusted cash balance is shown below:
= Ending balance of cash account - service charge - NSF checks
= $650 - $29 - $150
= $471
The deposit in transit and the outstanding checks are used to find out the adjusted bank balance, not for the adjusted cash balance. Hence, ignored it
So, All other information which is given is not relevant.
Drexel brothers is recruiting recent graduates with a physics or chemistry degree because of their problem-solving skills. the type of recruitment being used by drexel brothers is ________ recruiting.
Answer: External recruitment
Explanation: In simple words, it refers to the method of employing individuals in the organisation from external sources rather than the existing staff. The source of external sources are mainly campus placements and online recruitment etc.
Such kind of recruitment brings fresh ideas and effective employees to the organisation. However it can result in low morale of existing employees of the firm.
In the given case, company is recruiting fresh graduates on the basis of their skills hence we can conclude that they are doing external recruitment.
Drexel Brothers employs skills-based recruiting to target recent physics or chemistry graduates for their problem-solving and analytical abilities, which are highly valuable in professional scenarios.
The type of recruitment being used by Drexel Brothers, which focuses on attracting recent graduates with physics or chemistry degrees due to their problem-solving skills, is known as skills-based recruiting. Companies like Drexel Brothers value the analytical skills and ability to apply physical principles to real-world situations that students with a strong background in science bring to the workforce. These problem-solving competencies are critical, not only for academic success but also for professional life, as they allow for applying knowledge to various situations, unlike rote memorization of facts.
Ian purchased an Icewall refrigerator that regularly broke down. So, when his friend Susan asked him to recommend a good refrigerator for her new home, Ian said, "You can buy any refrigerator other than an Icewall refrigerator because I had a bad experience with it." If Susan forms a judgment based on what Ian said, this bias of judgment is an example of the _____. Select one:
a. cognition-recall process
b. attribute recall heuristic
c. availability heuristic
d. judgment-encoding process
e. accessibility model
Answer:
"C"
Explanation:
This bias of judgment is an example of the availability heuristic.
Which of the following types of inventory describes inventory that has been purchased but not processed?
A. raw material inventory
B. maintenance/repair/operating supply inventory
C. work-in-process inventory
D. finished-goods inventory
Answer:
A. raw material inventory
Explanation:
Inventory materials are basically of 3 types namely; Raw materials, semi-finished goods and finished goods.
Raw materials are inventory materials yet to be processed. It is usually referred to as material cost.
Inventory items that have been processed but yet to be finished are called semi finished goods. Such items are also called work-in-process inventory.
Finished goods are inventory items ready to be sold.
Based on the above statements, the right option is A. raw material inventory.
A ________ identifies that a firm has legally registered its brand name or trade name so the firm has its exclusive use
Answer:
copyright
Explanation:
Copyrights are considered intellectual property. Copyright law protects the intellectual work of an author or corporation (e.g. songs, trademarks, movies, books, etc.). The owner of the copyright has the right to decide if it allows third parties to use their protected material either for money or freely. So anyone that wishes to copy or use copyrighted material must be authorized by the owner.
SuperBumperCars, Inc. requires all customers to sign a release that contains a clause that releases SuperBumperCars from all liability in the event of an injury occurring during a bumper car ride, no matter who is at fault. This is an example of
Answer:
It is an example of the exculpatory clause
Explanation:
Exculpatory clause is the clause in the provision of contract which relieves or states that the one party of liability if the damages are incurred during the execution or the performance of the contract. And the party who issued this clause is seeking to be relieved of that potential liability.
In this case, SuperBumpers Cars releases a clause stating that they are releases from all the liability in the event of an injury during the car ride.
In an expansion, taxes rise and government expenditures fall, and therefore act as automatic ________. Inflation is more likely to increase in an expansion than in a recession, and therefore acts as an automatic ________.
Answer:
The correct answer is: stabilizers; destabilizer.
Explanation:
The automatic stabilizer is a government policy that correct fluctuations in the economy through their normal operation and hence they are called automatic stabilizers.
Taxes and government spending are examples of automatic stabilizers.
During an expansion, taxes increase with an increase in income and government spending decrease. These two without any intervention by the government automatically stabilize the economy.
Automatic destabilizer causes fluctuations by their normal operation. An example of destabilizer is inflation which increases during expansion and causes fluctuations without any intervention.
What is one of the MAIN purposes of GAAP?
A) To provide comparable information of all international companies for creditors and investors
B) To provide comparable information of nonprofit organizations for creditors and investors
C) To provide comparable information of private companies for creditors and investors
D) To provide comparable information of publicly-traded companies for creditors and investors
Answer:A -To provide comparable information of all international companies for creditors and investors
Explanation: GAAP- Generally Accepted Accounting Principles are basis by which the books of any organisation is prepared and presented in the financial statement.
GAAP aims to unify the process of Financial accounting all around the world. It aids clarity, consistency and interpretation of financial information.
GAAP is adopted all around the world in the preparation of financial information
It is adopted by the US Securities and exchange commission.
Itina Global Solutions recently received a new service request from a client. To execute this request, the managing director of the company sends out an email to all employees, containing details of the work that needs to be accomplished. In the context of formal communication channels, this scenario illustrates _____.
Answer:
Downward communication
Explanation:
Downward communication is the type of communication in which the flow of information and the messages is from a higher level inside a firm to the lower level. It is important for the success of the firm.
In this case, the company received a request from client and the managing director forwards the work to the employees. So, this illustrates the downward communication.
The scenario describes downward communication, a type of formal communication channel where information flows from superiors to subordinates in a hierarchical structure. The managerial directive from Itina Global Solutions' director is an example, signaling employee task delegations.
Explanation:In the given context, Itina Global Solutions' managing director sending out an email to all employees detailing work to be accomplished represents a form of downward communication. This type of formal communication channel signifies flow of information from managers or leaders to subordinates in a hierarchical structure.
For instance, the director’s communication relating to a new service request can be viewed as an example of managerial directives. In many organizations, such instructions are transmitted via email or staff meetings to ensure all team members receive the same information at the same time.
In the world of business, downward communication is vital. This approach is often used to share critical data, like corporate goals and targets, policy updates, task delegation, and feedback. It helps maintain clarity of roles and responsibilities among team members and creates a standardized working environment.
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West County Bank agrees to lend Drake Builders Company $400,000 on January 1. Drake Builders Company signs a $400,000, 6%, 6-month note. The entry made by Drake Builders Company on January 1 to record the proceeds and issuance of the note is
a. Interest Expense... 6,000 Cash ,000 Notes Payable ,000
b. Cash ,000 Notes Payable ,000
c. Cash ,000 Interest Expense... 12,000 Notes Payable ,000
d. Cash ,000 Interest Expense... 12,000 Notes Payable ,000
Answer:
The answer is b.Cash ,000 Notes Payable ,000
Explanation:
The exact entry Drake Builders Company has to record in its accounting book for the proceeds received from the issuance of the note is:
1st January
Dr Cash 400,000
Cr Note Payable 400,000
As at the time the note is issued, no interest expenses has been incurred, all the answer with Interest expenses can be eliminated.
In fact, interest expenses is only incurred and accrued during the lifetime of the note, based on the number of days the note is hold; that is, from the day the fund is lend out to Drake Builders Company; not on the day of issuance.
Your bank, First Bank, charges you $1.50 every time you use an ATM that is not owned by them. Unfortunately, there is no First Bank ATM near your school. There is a Second Bank ATM in the Student Center, which you use several times a week to withdraw $10 at a time for lunch, video games, etc. What is the best piece of advice regarding these transactions
Answer:
Every time you are withdrawing $10 from the Second Bank ATM you are paying 15% interest (or bank expenses). That is a lot of money, so you should try to avoid doing it. You should look for a First Bank ATM that is close to your home and withdraw the money before going to school. Or if you can't find an ATM from your bank you might even have to change your bank.
If you can't change your bank for whatever reason and you really need to withdraw money from Second Bank ATM my advice would be to try to withdraw larger sums so you only do it once a week or once every two weeks. Since the $1.50 per operation is a fixed amount, if you withdraw $50, you are only paying 3% interest.
The increase in the amount that the government collects in taxes when the economy expands and the decrease in the amount that the government collects in taxes when the economy goes into a recession is an example of:_______
Answer: Automatic stabilizers
Explanation:
Automatic stabilizers are referred to as the kind of the fiscal policy that are designed in order to offset a fluctuations in the domestic economic activity via the normal operation without further additional or timely authorization by federal government. These are referred as so because they tend to stabilize the economic and business cycles and thus are further automatically activated without any additional action by the federal government.
The discount rate is the interest rates on loans that the Federal Reserves makes banks. Banks occasionally borrow from the Federal Reserve when they find themselves short on reserves. A higher discount rate________ (increases or decreases) banks' incentives to borrow reserves from the Federal Reserve, thereby________ (increasing or reducing) the quantity of reserves in the banking system and causing the money supply to________ (fall or rise).
The federal funds rate is the interest rate that banks charge one another for short-term________ (typically overnight) loans. When the Federal Reserve uses open-market operations to buy govenment bonds, the quantity of reserves in the banking system ________ (decreases or increases), banks' demand for borrowed reserves________ (declines or rises), and the federal funds rate (increases or decreases).
Answer:
The discount rate is the interest rates on loans that the Federal Reserves makes banks. Banks occasionally borrow from the Federal Reserve when they find themselves short on reserves. A higher discount rate DECREASES banks' incentives to borrow reserves from the Federal Reserve, thereby REDUCING the quantity of reserves in the banking system and causing the money supply to FALL. THE BANK HAS LESS MONEY TO LOAN, SO ITS ABILITY TO "CREATE" MONEY THROUGH THE ISSUE OF LOANS IS REDUCED.
The federal funds rate is the interest rate that banks charge one another for short-term OVERNIGHT loans. When the Federal Reserve uses open-market operations to buy government bonds, the quantity of reserves in the banking system INCREASES, banks' demand for borrowed reserves RISES, and the federal funds rate DECREASES. THE FED WILL ADOPT AN EXPANSIONARY MONETARY POLICY BY BUYING BONDS FROM BANKS AND INCREASING THE AMOUNT OF MONEY THEY CAN LOAN.
Lana Appliances sells dishwashers with a fourminusyear warranty. In 2018, sales revenue for dishwashers is $ 87 comma 000. The company estimates warranty expense at 4.5% of revenues. What is the 2018 warranty expense?
Answer:
The total 2018 warranty expense is $3,915
Explanation:
To solve, we simply multiply total sales revenue and the estimated warranty expense percentage:
$87,000 x 4,5% = $3,915
We can also make the following entries in the journal
Debit Credit
Warranty Expense $5,000
Warranty Liability $5,000
Final answer:
The warranty expense for 2018 is $3,915.
Explanation:
To calculate the warranty expense for 2018, we need to multiply the sales revenue for dishwashers by the estimated warranty expense percentage.
The sales revenue for dishwashers in 2018 is $87,000 and the estimated warranty expense percentage is 4.5%.
So, the warranty expense for 2018 can be calculated as:
Warranty Expense = Sales Revenue × Warranty Expense Percentage
Warranty Expense = $87,000 × 0.045
Warranty Expense = $3,915
When a consumer goes to the grocery store to purchase items on her shopping list and picks up items that she did not have on her list but remembered her family needed when she saw them, which type of shopping behavior does this illustrate?
Answer: Unplanned shopping behavior
Explanation: When a buyer has pre-planned list of things to buy but on getting to the shopping complex, the buyer sees some items and remembers he needs them also, this action is an unplanned shopping behavior.
This shopping behavior best suits the illustration in the question.
The gizmo industry has the following characteristics: over 600 producers with no one producer furnishing more than .5% of the industry’s total output; gizmos produced by different firms carry unique brand names and labels; there are no significant barriers to entry to the gizmo market; there is no economic profit in the long run. The gizmo market is best described as what type of market? perfect competition monopolistic competition differentiated oligopoly undifferentiated oligopoly pure monopoly
Answer:
monopolistic competition
Explanation:
A monopolistic competition has the features of both a monopoly and a competitive firm.
Characteristics of a monopolistic competition includes:
1. Many buyers and sellers
2. Firms are price setters
3. Firms sell differentiated products
4. There are low barriers to entry and exit of firms.
5. Firms make zero economic profit in the long run.
Perfect competition has the above characteristics of a monopolistic firm except:
1. They are price takers
2. There are no barriers to entry and exit of firms
3. Firms do not sell differentiated products.
An oligopoly industry is characterised by few large firms, significant barriers to entry or exit of firms.
Monopoly firms earn economic profit in the long run, there is only one seller in the market and there are high barriers to entry or exit of firms.
I hope my answer helps you.
An unplanned business district is a type of retail location where Multiple Choice two or more stores are situated together or in close proximity. freestanding businesses appear at random. a group of architecturally unique business establ
Answer: two or more stores are situated together or in close proximity
Explanation: In simple words, an unplanned business district refers to an area where multiple stores are opened by individuals without any collective planning of establishing a market altogether.
Usually this is a place where all the commercial transactions of a town or a district takes place. In other markets, it is the main market arena of a specified area.
Generally customer turnover is very high in such areas as there are several stores from which a rational customer can find all commodities he or she needs.
Shondee Corporation uses the lower of cost or market and FIFO inventory methods. At the end of 2018, the FIFO cost of the ending inventory was $181,000, and the market value of the inventory was $160,000. The corporation switched to LIFO in 2019. If required, round your answer to the nearest dollar. As a result, Shondee Corporation must add: $ ______blank_____
to income for each of the years 2019, 2020, and 2021.
Answer:
reported as income for all three years is $7,000
Explanation:
given data
cost of the ending inventory = $181,000
market value inventory = $160,000
to find out
Shondee Corporation must add income
solution
we get here Income per year that is
Income per year = (Value under FIFO Method - Value Under Cost Method ) ÷ Number of year ..............................1
put here value we get
Income per year = [tex]\frac{181000 - 160000}{3}[/tex]
Income per year = [tex]\frac{21000}{3}[/tex]
Income per year = $7000
so reported as income for all three years is $7,000
Final answer:
Shondee Corporation must add $21,000 to income for each of the years 2019, 2020, and 2021.
Explanation:
Shondee Corporation uses the lower cost or market and FIFO inventory methods. At the end of the year 2018, the cost by FIFO of the ending inventory was $181,000, and the inventories market value was $160,000. The corporation switched to LIFO in 2019.
To determine the amount that Shondee Corporation must add to income for each of the years 2019, 2020, and 2021, we need to calculate the difference between the FIFO cost and the market value of the inventory.
In this case, the difference is $181,000 - $160,000 = $21,000. Therefore, Shondee Corporation must add $21,000 to income for each of the years 2019, 2020, and 2021.