Answer:
E) The seller was not allowed to rescind the contract.
Explanation:
In this case, Mary Scott was interested in purchasing a mobile home from Mid-Carolina Homes. They saw a mobile home that they liked and paid $2,913.71 in advance for it. Then next week the seller told them that they couldn't sell them the home because it was broken and instead sold it to another buyer for a higher amount. Even though they were not willing to sell the home to the Scotts, the company still cashed their check.
The Supreme Court of South Carolina ruled in favor of the Scotts and upheld the $10,000 awarded for breach of contract accompanied by a fraudulent act. But the court also reversed $4,800 in other damages related to unfair trade practices.
An entity has failed to provide documentation for a newly acquired material asset and informs its auditors that the documentation is lost. According to generally accepted government auditing standards, what would this situation typically indicate to the auditors?
Answer:
The answer is a heightened risk of fraud
Explanation:
When this (the scenario in the question) happens, it is a red flag and a fraud is likely to have happened and the auditor should treat this as a high risk.
Management intention might be to conceal a material information inorder to pepetrate fraud or the truth might be that the documents for the acquisition is truly lost.
The auditor should also consider the materiality of this event when forming their opinion on the financial statement
In a nutshell, this case poses a risk of fraud.
Advertising refers to any paid form of personal communication about an organization, product, service, or idea by an identified sponsor. any nonpaid form of nonpersonal communication about an organization, product, service, or idea by an identified sponsor. any paid form of nonpersonal communication about an organization, product, service, or idea by an unidentified sponsor. any nonpaid form of personal communication about an organization, product, service, or idea by an unidentified sponsor. any paid form of nonpersonal communication about an organization, product, service, or idea by an identified sponsor.
Advertising refers to any paid form of personal communication by an identified sponsor to promote and persuade target audiences. It includes mediums like television commercials, print ads, and online banners.
Advertising refers to any paid form of personal communication about an organization, product, service, or idea by an identified sponsor. It is a nonpersonal form of communication that aims to promote and persuade target audiences. For example, television commercials, print ads, and online banners are all forms of advertising.
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Advertising is any communication, paid or unpaid, that promotes a company, product, service or idea. A successful campaign can differentiate a product from its competitors, and can cause an increase in demand or price. The ethics of advertising, such as disclosure of paid ambassadorships, are also important.
Explanation:Advertising refers to any form of communication, paid or unpaid, aimed at promoting an organization, product, service, or idea. It is a crucial aspect of businesses, enabling them to differentiate their offerings from competitors'.
With advances in technology and changing media landscape, advertising strategies have evolved over time, shifting from traditional forms such as TV and print media ads to more sophisticated online and digital formats. Businesses have had to adapt to these changes by seeking innovative ways to reach their target audiences.
An advertising strategy can impact a company's perceived demand, either by making the demand for its product more inelastic or by increasing the product's demand. This could result in the company being able to sell greater quantities or charge higher prices, thereby increasing profits. Such strategies often involve differentiation, where businesses convince potential customers that their products are unique or superior to those of competitors.
Responsibility and ethics are also vital in advertising. There has been an ongoing debate concerning whether paid ambassadors should disclose their relationships with the companies they represent.
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Beatriz is trying to identify the work performed and the working conditions for the job of ombudsperson. This job has never existed at Acme Global and Laura does not know much about the job. In this case, the ______ job analysis method would be most appropriate.
Answer:
The correct word for the blank space is: Subject matter expert panel.
Explanation:
A subject-matter expert panel is a structure that defines the profile, duties, and skills that an expert over a certain topic must fulfill. There could be cases in which the experts could specialize in a single area, while in others, those individuals could have general knowledge over different topics.
Therefore, using a subject-matter expert panel can be helpful at the moment of defining the responsibilities an ombudsperson has to cover within a firm.
What scenarios would cause the u.S. Short-run aggregate supply curve to shift to the left?
The U.S. short-run aggregate supply curve can shift to the left due to events such as shocks to labor market, decline in aggregate demand, or a pandemic that impacts the workforce.
Explanation:There are various scenarios that could cause the U.S. short-run aggregate supply (SRAS) curve to shift to the left. One scenario involves shocks to the labor market. This could happen, for instance, if a large number of workers are required to cease their ordinary production in an event like an overseas war, leading to fewer workers available to produce goods at any given price.
Another scenario that can cause the SRAS curve to shift to the left is a decline in aggregate demand. This can occur if consumer confidence decreases, leading to less consumption and more saving, which can cause a decline in output and a rise in unemployment.
Lastly, a pandemic, such as COVID-19, can also cause a leftward shift to the SRAS curve as many workers may become sick or cautious to go back to work because of health or safety concerns.
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There are a variety of types of conflict that can occur among channel members. If a hardware store down the street from our ice cream shop starts selling the same brand of ice cream as we do, there is likely to be conflict. This is a good example of:__________
1. Vertical conflict
2. Producer vs. wholesaler conflict
3. Conflict caused by disintermediation unfair competition
4. Conflict caused by the hardware store adopting "scrambled merchandising" marketing.
Answer:
conflict caused by the hardware store adopting "scrambled merchandising" marketing.
Explanation:
Scrambled merchandising occurs when a shop sells a good that is not the usual type of products it sells. A store owner may adopt scrambled merchandising to utilise unused space or to increase bottom line.
When a store owner sells many unrelated goods it gives the buyer the impression that the seller does not specialise in a particular type of product.
The conflict in this case arises through scrambled merchandising. A hardware store starts to sell ice cream like our own business.
Chevrolet runs a promotion whereby consumers can redeem two free ski lift tickets at their local dealer through a test-drive promotion. According to the communication model, the people coming into the dealership to test-drive a vehicle are the ________.
Answer:
feedback
Explanation:
Based on the scenario being described within the question it can be said that the individuals that test-drive the vehicles are the feedback. In the communication method this refers to the audiences response that allows "you" as a company to evaluate the effectiveness of your message, product, or promotion. Which in this specific scenario the people that test-drive the car allow you to understand what they like and dislike about the cars in order to improve on it and sell more.
The correct term for the people coming into the dealership to test-drive a vehicle in the context of the communication model is encoders.
In the communication model, there are several key components: the sender (encoder), the message, the channel, the receiver (decoder), and the feedback. The sender is the one who initiates the message, encoding it into a form that can be transmitted through a channel. In this case, Chevrolet is the sender that has encoded the message of the promotion.
The people who come into the dealership to test-drive a vehicle are acting as the receivers (decoders) in the communication model. They receive the message from Chevrolet (through advertising or other forms of communication), decode it, and then respond to the message by taking action in this case, by visiting the dealership for a test drive to redeem the ski lift tickets.
The term encoder is not typically used to describe the receivers of a message. Instead, encoder refers to the originator of the message. Therefore, the people coming into the dealership are more accurately described as the receivers or decoders in the communication model. They decode the message they received about the promotion and then act upon it by engaging with the dealership.
In summary, the people coming into the dealership to test-drive a vehicle are the receivers (decoders) in the communication model, not the encoders. The encoder in this scenario is Chevrolet, which created and sent out the promotional message.
A consumer decides to purchase a new automobile for the first time in 10 years. The price the consumer paid 10 years ago for a new midsize sedan was $18,000. The new sticker price for a similar automobile is now $26,000. The consumer decides that the new automobile is simply too expensive compared to the sedan purchased 10 years ago. Which heuristic likely influenced the consumer's decision?
anchoring and adjustment heuristic
confirmation error
associative play
Answer:
anchoring and adjustment heuristic
Explanation:
Anchoring and adjustment heuristic is defined as the psychological way in which people asses probabilities. It states that people have a reference or anchor and the make adjustments to it in otlrder to reach an estimate.
The anchor is the price that the customer paid 10 years ago. That is $18,000. However the sticker price is $26,000.
The consumer feels this is too far away from his anchor from 10 years ago.
Answer:
anchoring and adjustment heuristic
Explanation:
A large portion of our important and significant consumer decisions (mostly shopping products) are influenced by anchoring and adjustment heuristics. When we are looking for some expensive good which we generally do not purchase very often, we always anchor our perception of the good to any prior experience with it and then adjust our prior experience to our current environment.
In this case, the customer's reference price was the price he paid for a "similar" car 10 years ago and refuses to pay a higher price for a current model regardless that cars have changed a lot during the last 10 years. He didn't adjust his past reference (anchor) to how much cars have changed and how much value the currency has lost.
Cash Budget is:
detailed plan showing how cash resources will be acquired and used over a specific period of time B. a detailed plan that shows the direct labor hours required to fulfill the production budget C. a detailed plan for the future that is usually expressed in formal quantitative terms D. a detailed plan showing the number of units that must be produced during a period in order to satisfy both sales and inventory needs.
Answer:
A. detailed plan showing how cash resources will be acquired and used over a specific period of time
Explanation:
Cash budget is a type of budget that accounts for the expected cash received and disbursed during a period of time. it is a plan that indicates how inputs used in the production process will be acquired and used over a specific period of time. it shows an organization cash inflow and cash outflow over a specified period of time. it gives an insight to the company status on its cash position at any point in time. it shows the estimated projections of an organization's cash position in the future.
Answer:
A detailed plan showing how cash resources will be acquired and used over specific period of time.
Explanation:
A cash budget can be defined as the measurement of the amount of money that is present in an organization. A cash budget can also be described as a planning tool that is used to estimate the amount of money that flows into and out of the company.
A cash budget enables an organization to become more resourceful and also avoid incurring a large amount of debt. A cash budget also gives an outline of how much money an organization makes within a specific period of time.
Big Mike's Health Food Store sells nutritional energy foods. The price of the products sold varies according to individual customer accounts and situations. For example, long-time customers receive discounts. This strategy is an example of ________.
Answer:
The answer options to this question would be the following:
a. price elasticity
b. cost-plus pricing
c. dynamic pricing
d. value pricing
e. penetration pricing
The correct answer is: c. dynamic pricing .
Explanation:
The dynamic price is a sales strategy in which the price of a certain product or service is set according to the reference variables that a company has, with the main objective of obtaining the highest possible profitability. With this strategy, the cost varies depending on the offer and the demand, that is, a client can pay higher or lower prices for the same product or service according to the circumstances, such as time of year, special dates, interest in the product, among others.
Mandy's Muffins, Inc., makes a profit in 2015. The managers of Mandy's Muffins, Inc., decide to distribute the profits to the corporation's shareholders in proportion to the number of shares held. The profits distributed to the shareholders are known as:
Answer:
Dividend.
Explanation:
The managers of Mandy's Muffins, Inc., decide to distribute the profits to the corporation's shareholders are known as a dividend. A dividend is a part of the profits and retained earnings of the company that shared among its shareholders. The value of the dividend is determined on a per-share basis and is to be shared among the shareholders equally of the same class.
Heritage, Inc., had a cost of goods sold of $44,621. At the end of the year, the accounts payable balance was $8,403. How long on average did it take the company to pay off its suppliers during the year? (Use 365 days a year. Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Days' sales in payables days
Answer:
Days sales in payable = 68.74 days(Approx)
Explanation:
Given:
Cost of goods sold = $44,621
Accounts payable = $8,403
Days sales in payable = ?
Computation of Days sales in payable :
[tex]Days\ sales\ in\ payables=(Accounts\ payable\/cost\ of\ goods\ sold)\times365\ days[/tex]
Days sales in payable = ($8,403 / $44,621) × 365 days
Days sales in payable = 0.188319401 × 365 days
Days sales in payable = 68.7365814
Days sales in payable = 68.74 days(Approx)
An echocardiogram on a one day-old infant with refractory hypoxemia finds no evidence of congenital heart disease but reveals right-to-left shunting through a patent ductus arteriosus, tricuspid valve regurgitation and an enlarged right ventricle. Which of the following is the most likely problem?
Answer:
The answer is persistent pulmonary hypertension of the newborn (PPHN).
Explanation:
Persistent pulmonary hypertension of the newborn (PPHN) can be defined as situation in which there is a failure of the normal circulatory transition that takes place after birth. It is a syndrome that is characterized by marked pulmonary hypertension that causes hypoxemia secondary to right-to-left shunting of blood at the foramen ovale and ductus arteriosus.
Persistent pulmonary hypertension of the newborn (PPHN) occurs when the pressure in the blood vessels supplying the lungs of a newborn baby remains high after birth. The pulmonary arteries are narrowed, reducing blood flow through the lungs and causing the pressure to be naturally high. What this means is that PPHN happens when a newborn's circulation system doesn't adapt to breathing outside the womb because while in the womb, the fetus receives oxygen through the umbilical cord, therefore, the lungs need little blood supply.
"The most likely problem is persistent pulmonary hypertension of the newborn (PPHN).
The clinical presentation of refractory hypoxemia in a one-day-old infant, along with the echocardiogram findings of right-to-left shunting through a patent ductus arteriosus (PDA), tricuspid valve regurgitation, and an enlarged right ventricle, is highly suggestive of persistent pulmonary hypertension of the newborn (PPHN). PPHN is characterized by the failure of the normal circulatory transition at birth, where the pulmonary vascular resistance (PVR) remains elevated, leading to right-to-left shunting of blood and subsequent hypoxemia.
In a healthy transition from fetal to neonatal circulation, the PVR decreases after birth, allowing for increased blood flow to the lungs for gas exchange. However, in PPHN, this decrease in PVR does not occur, and as a result, blood is shunted away from the lungs through the PDA or foramen ovale, leading to severe hypoxemia. The right-to-left shunting through the PDA and the enlarged right ventricle indicate that the right side of the heart is working harder to overcome the elevated pulmonary pressures. Tricuspid valve regurgitation can also occur as a consequence of right ventricular dysfunction or dilatation due to the increased workload.
The absence of congenital heart disease on the echocardiogram helps to rule out structural heart defects as the primary cause of the hypoxemia and shunting. Instead, the findings are consistent with PPHN, which is a functional disorder of the pulmonary circulation. Treatment of PPHN typically involves supportive care, optimization of ventilation, and sometimes the use of pulmonary vasodilators, such as inhaled nitric oxide, to reduce the PVR and improve oxygenation."
A county accounts for its debt service payments in the General Fund. The amount of unmatured, unpaid interest on general long-term liabilities at the beginning of the year was $122,000 (listed on the LTL Schedule). The ending balance was $165,000. The General Fund also made principal payments of $600,000 and interest payments of $150,000 during the year. The General Fund should report expenditures for debt service for the year of:
$150,000
$722,000
$750,000
$793,000
Answer:
The correct option is $750,000
Explanation:
A county uses the modified accrual basis of accounting for revenue and expenditure which implies that revenue and expenditure do not show up in the county's books of accounts except for those ones actually received and paid in the period under consideration.
As a result,the expenditures for the debt service year are those actually paid which comprises of the principal repayment of $600,000 and interest payment of $150,000,totalling $750,000($600,000+$150,000)
Answer:
$750,000
Explanation:
The reason is that the amount paid includes the paying off the long term liability which must be decreased with the amount paid $600,000 and the interest expenditure must also be reported as an Finance cost liability decrease for the year with the amount paid $150,000.
So the general fund that must be reported as expenditure is $750,000.
In the 1980s, the U.S. government forced Japanese automakers to limit their exports to the United States. The union representing the autoworkers (UAW), argued that otherwise the U.S. auto industry would have contracted. The UAW's argument is the ________ argument for protection.
A) save domestic jobs
B) national security
C) anti-dumping
D) infant-industry
E) bringing diversity and stability
Answer:
A) save domestic jobs
Explanation:
Domestic jobs: These are the categories of jobs that are available in the national country of the company or within the boundary of the country, which has a preference for the local population and has more responsibility toward national´s resources, however, foreign companies have less responsibility toward national´s resources and their sole motive is to earn profit at a lesser cost.
In the given case, Japanese company´s export to the U.S have affected the domestic jobs as their motive is to maximize profit, which leads to an argument for protection of domestic job in U.S auto industry, therefore, US government have limited the export of Japanese automaker.
Which of the following fundamental responsibilities is not correct? a. The controller notifies the business reporting department of various adjusting entries b. Adjusted trial balance figures are sent from the business reporting department to the financial reporting officer c. The treasurer notifies the business reporting department of investing and financing transaction activities d. Detailed reporting of daily production is sent to the president
Answer:
d. Detailed reporting of daily production is sent to the president
Explanation:
Fundamental responsibilities involves process in which the controller notifies the business reporting department of various adjusting entries, which are sent to the financial reporting officer as adjusted trial balance figures.
The treasurer notifies the business reporting department of investing and financing transaction activities.
Managers should consider doing all of the following to develop a strong culture for a unit EXCEPT A Option A: stress a concern for the management over rules and procedures. B Option B: talk about heroes of the past and their contributions, develop rituals and ceremonies for the members. C Option C: promote the sharing of ideas of information. D Option D: emphasize a shared understanding of what the unit stands for. E Option E: reinforce informal rules and expectations consistent with shared values.
Answer: A. stress a concern for the management over rules and procedures.
Explanation: To develop a strong culture in the unit managers should consider doing the following;
1. Talk about the past heroes, their impact, contribution and achievements
2. Promote the concept of sharing information and ideas among members of its unit
3. Emphasis the shared understanding of what the unit represent.
What is the return on common stockholdersâ equity based on the following: Beginning Common Stockholdersâ Equity: $10,317,000 Ending Common Stockholdersâ Equity: $10,662,000 Net Income: $1,429,000 Preferred Stock throughout the year: 6%, $75 par (8,000 shares authorized, issued, and outstanding).a:
Answer:
13.28%
Explanation:
return on stockholders' equity = net income after taxes and preferred stock dividends / average stockholders' equity
net income = $1,429,000preferred stocks dividends = 8,000 stocks x $75 x 6% = $36,000average stockholders' equity = ($10,317,000 + $10,662,000) / 2 = $10,489,500return on stockholders' equity = ($1,429,000 - $36,000) / $10,489,500 = 13.28%
During August, 2018, Baxter’s Supply Store generated revenues of $60,000. The company’s expenses were as follows: cost of goods sold of $36,000 and operating expenses of $4,000. The company also had rent revenue of $1,000 and a gain on the sale of a delivery truck of $2,000. Baxter’s net income for August, 2018 is Group of answer choices $21,000. $24,000. $23,000. $20,000.
Answer:
$23,000
Explanation:
The Net income of the company can be found from the following formula:
Net Income = Revenue - Cost of goods sold - Operating Expense + Rental Income + Gain on Sale
Here
Revenue generated is $60,000
Cost of goods sold is $36,000
Operating expenses are $4,000
Rental Income is $1,000
Gain on sale of the delivery Truck is $2,000
By putting values in the equation, we have:
Net Income = $60,000 - $36,000 - $4,000 + $1,000 + 2,000
Net Income = $23,000
Oreva, a multinational corporation, pays $100,000 per year to an information technology firm to archive and secure all of its data into the information technology firm's cloud platform. In this scenario, the cost incurred by Oreva is an example of _____.
The question is incomplete, it lacks options.
A) storage cost
B) processing cost
C) acquisition cost
D) retrieval cost
Answer:
Storage cost.
Explanation:
Storage cost can be defined as the amount of money that is spent on storing or holding inventory. Inventory can be defined as unsold goods and services which a business keeps in a warehouse for resale in the nearest future.
It is very essential for companies to keep storage of raw materials, finished products and various machines assemblage. The costs incurred in keeping these materials, maintenance of warehouse and security personnel is known as storage costs.
Hager Company's accountant calculates the company's basic EPS. In addition to common stock, the company also has nonconvertible, noncumulative preferred stock outstanding. No dividends were declared during the current year. When calculating EPS, the accountant should
Answer:
B) ignore the preferred stock dividends when calculating the numerator.
Explanation:
The formula used to calculate earnings per share (EPS) = (net income after taxes - preferred dividends) / average outstanding common stocks.
Since no preferred stock dividends were declared this year, then their value on the EPS formula is $0, so you could basically ignore them since any number minus 0 is the same number.
EPS = net income after taxes / average outstanding common stocks
Answer:
ignore the preferred stock dividends when calculating the numerator
Explanation:
Hager Company's accountant calculates the company's basic EPS. In addition to common stock, the company also has nonconvertible, noncumulative preferred stock outstanding. No dividends were declared during the current year. When calculating EPS, the accountant should IGNORE THE PREFERRED STOCK DIVIDENDS WHEN CALCULATING THE NUMERATOR.
Earnings per share (EPS) is calculated as a company's profit divided by the outstanding shares of its common stock. The resulting number serves as an indicator of a company's profitability.
Sidney took a $150 cash advance by using checks linked to her credit card account. The bank charges a 2 percent cash advance fee on the amount borrowed and offers no grace period on cash advances. Sidney paid the balance in full when the bill arrived.
a.
What was the cash advance fee? (Round your answer to 2 decimal places.)
Cash advance fee $
b.
What was the interest for one month at an APR of 16 percent? (Round your answer to 2 decimal places.)
Interest $
c. What was the total amount she paid? (Round your answer to 2 decimal places.)
Total amount $
d.
What if she had made the purchase with her credit card and paid off her bill in full promptly? Assume the credit card has a grace period. (Round your answer to 2 decimal places.)
Amount paid $
9.
What are the interest cost and the total amount due on a six-month loan of $1,200 at 13 percent simple annual interest?
10.
After visiting several automobile dealerships, Richard selects the car he wants. He likes its $13,500 price, but financing through the dealer is no bargain. He has $2,700 cash for a down payment, so he needs an $10,800 loan. In shopping at several banks for an installment loan, he learns that interest on most automobile loans is quoted at add-on rates. That is, during the life of the loan, interest is paid on the full amount borrowed even though a portion of the principal has been paid back. Richard borrows $10,800 for a period of five years at an add-on interest rate of 11 percent.
a.
What is the total interest on Richard’s loan?
Total interest $
b.
What is the total cost of the car?
Total cost $
c. What is the monthly payment?
Monthly payment $
d.
What is the annual percentage rate (APR)? (Enter your answer as a percent rounded to 2 decimal places.
APR %
Interest cost $
Total amount due $
Answer:
A.) 3%; B.) 2% ; C) $155; D) $150
9) $78 ; $1278
10) a) $5940; b) $19440; c) $279; D) 21.64%
Explanation:
Amount = $150
Cash advance rate = 2% = 0.02
A.) cash advance fee = $150 × 0.02 = $3
B.) Interest for one month at APR of 18%
Interest = principal × time × rate
$150 × (1÷12) × 0.16 = $2.00
C.) Total amount paid
$(150 + 3 + 2) = $155
D.) $150
9.)
Interest = principal × rate × time
t = 6 months = (6/12)
Rate (r) = 0.13
Principal = $1200
Interest = $1200 × 0.13 × 0.5 = $78
Total amount = down payment + principal borrowed + interest
Total amount = 0 + $1200 + $78 = $1,278
10.)
Price = $13,500
Down payment = $2700
Loan required = $10,800
Add-on rate = 11% = 0.11
Period = 5 years
A.) Interest = $10,800 × 0.11 × 5 = $5,940
B.) Total cost = Down payment + Principal borrowed + interest paid
$2700 + $10,800 + $5940 = $19,440
C.) Monthly Payment = (Principal Borrowed + Total interest) / Total number of payments
Monthly Payment = ($10800+ $5940) / (12×5)
Monthly payment = $16740 ÷ 60 =$279
D.) Annual percentage rate (APR)
APR= (2 × n × I) / [P × (N + 1)]
APR = (2 × 12 × 5940) / [10800 × (60+1)]
APR = 142560 ÷ 658800
APR = 0.21639
APR = 21.64%
Some of the benefits that Robix gives to its CEO and other top executives as a way to attract and retain talented individuals include chauffeurs, country club memberships, and special vacation policies. These are known as
Answer:
Perquisites
Explanation:
Perquisites are added benefits attached tonan office or a position in addition to normal salaries and wages. It includes both direct and indirect benefits that an employee enjoys in addition to his or her normal salary. It is also called Perks for short and can include houses, cars and so on. In this case, the perks are given to top executives members and they include country club membership, vacation policies and chauffeurs.
First-mover disadvantages refer to:__________
A. disadvantages associated with entering a foreign market before other international businesses.
B. costs that a late entrant to a foreign market has to bear.
C. a direct restriction on the quantity of a good that can be imported into a country.
D. imperfections in the operation of the market mechanism.
E. disadvantages experienced by being a late entrant in a foreign market.
Answer: A. disadvantages associated with entering a foreign market before other international businesses.
Explanation:
First-mover disadvantages refer to:__________
A. disadvantages associated with entering a foreign market before other international businesses.
First-mover is an individual or organisation that makes an entry into the market first.It has advantages and disadvantages as a First moverone advantage is establish a brand to customersone disadvantage is ssociated with entering a foreign market before other international businessesAnswer:
Option A.
Explanation:
A first mover can be referred to as a service or product that gains a competitive advantage by being the first to enter a particular market with a product or service. Being a first-mover can enable a company to establish a strong brand recognition, and gain customer loyalty before competitors can enter the market. Another advantage is that a producer has enough time to perfect his/her product or service before the appearance of competitors, and also setting the market price for the innovative commodity.
However, there can also be disadvantages which are linked to entering a foreign market before other international businesses, and they can be referred to as first-mover disadvantages. These disadvantages may manifest in the form of pioneering costs, which are the costs that an early entrant must bear, but a later entrant can avoid.
In year 2, Kilroy Company purchased land for a new office building at a purchase price of $325,000. There was an existing building on the site that was demolished at a cost of $12,000. Scrap from the demolition was sold for $3,500. The building was completed during year 2. In addition, the following costs were incurred:
Answer:
c. $ 359,000 $ 1,323,000 $ 0
Explanation:
The computation of given question is shown below:-
Total cost of land = Purchase cost + Demolition Cost + Cost of Attorneys for the Purchase Contract + Grading Cost - Scrape Sold
= $325,000 + $12,000 + $7,500 + $18,000 - $3,500
= $359,000
Total cost of building = Cost of Architect Design + Cost of Building Permits + Cost of Construction of Building
= $40,000 + $8,000 + $1,275,000
= $1,323,000
There are no costs to be reported as expenses because all expenditures have to be capitalized.
Vandelay Industries has discovered a defect in one of its products that may result in injury to users. The company believes it must quickly develop and implement a recall program.
It is likely that Vandelay soon will be placing a great deal of emphasis on _________.
A. reverse logistics
B. inbound logistics
C. materials handling
D. third-party logistics
Answer:
A. Reverse logistics
Explanation:
Reverse logistics has to do with the return of a product to the manufacturer/producer or distributor for either servicing, refurbishment or recycling. With the defect discovered, Vandelay can use reverse logistics in getting the products back in order to fix the defects in the products. Reverse logistics also refers to activities conducted after the sale of a particular product to recapture the product value or/and end the life cycle. It involves reusing of products and materials.
Answer: C. materials handling
Explanation: Material handling is used to ensures an increase in safety from permanent and temporary disabilities. Materials handling involves the movement of a material during manufacturing, distribution (warehouse), or office environment. Materials handling also takes place during preparation for shipment.
Srishti wants to start a restaurant of her own. As she does not have any savings, she approaches her bank for money and enters an agreement with the bank. According to the agreement, the bank agrees to lend her $5,000 upon request, provided it has sufficient funds to loan the amount. In this scenario, the type of funding obtained by Srishti can be regarded as a _________.
Answer:
Line of credit.
Explanation:
A line of credit is a loan that is issued by the bank to the customer. This type of loan can be withdrawn at any period of time by the customer.
A line of credit is a type of loan that can be used as a credit card. It is possible for a customer to withdraw money up to a maximum amount when needed, pay back and then withdraw the money again.
A line of credit enables the customer to borrow money without paying a high amount of interest. This type of loan can be used at any time without any form of restriction.
Answer:
Line if credit
Explanation:
Line of credit (LOC) refers to the total amount of money in which a bank has agreed to lend you at a specific interest rate to be paid at a particular period of time. It is agreement between a bank or credit union that state the maximum amount of loan a customer is eligible to.
The borrower can take loan from the financial institution as many times as possible as long as it is still within the maximum limit reached in the agreement coupled with prompt payment of loan. Line of credit is an open-end credit account, which allows borrowers to spend the money, repay it, and spend it again in a continuous cycle.
The lender(financial institution) is responsible for setting the maximum amount of loan, interest rate, payment rate, duration of loan and other things.
The type of funding obtained by Srishti from the bank is called line of credit.
Goods X and Y are complementary goods. A decrease in price of good X has occurred. In the market for good Y, this will lead to a decrease in price and a decrease in quantity. an increase in price and an increase in quantity. an increase in price and a decrease in quantity. a decrease in price and an increase in quantity.
Answer:
a decrease in price and an increase in quantity.
Explanation:
Complementary good is a good wherein its use has an association with its complement . Goods are said to be complementary when the usage of good X requires more usage of good Y.
Example of complementary good is DVD player and a DVD disc. If there is an increase in price of DVD player, then there would be a decrease in price and quantity demanded for a DVD disc.
It therefore means that complementary goods are goods that are jointly consumed together.
A decrease in the price of a complementary good X will result in a decrease in the price and quantity of good Y.
Explanation:In the market for complementary goods, a decrease in the price of one good affects the demand and price of the other good. In this case, if there is a decrease in the price of good X, the demand for good Y will decrease. This leads to a decrease in the price of good Y and a decrease in its quantity.
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Consider the problem facing two firms, YumYum and Bertollini, in the frozen food market. Each firm has just come up with an idea for a new "frozen meal for two" which it would sell for $9. Assume that the marginal cost for each new product is a constant $2, and the only fixed cost is for advertising. Each company knows that if it spends $12 million on advertising it will get 1.5 million consumers to try its new product. Yum Yum has done market research which suggests that its product does not have any "staying" power in the market. Even though it could get 1.5 million consumers to buy the product once, it is unlikely that they will continue to buy the product in the future. Bertolini's market research suggests that its product is very good, and consumers who try the product will continue to be consumers over the ensuing year. On the basis of its market research, Bertollini estimates that its initial 1.5 million customers will buy one unit of the product each month in the coming year, for a total of 18 million units.Which of the following is most likely? A) Both YumYum and Bertollini will advertise. B). Neither YumYum nor Bertollini will advertise. C). YumYum will advertise, but Bertollini will not advertise. D). Bertollini will advertise, but YumYum will not advertise.
Answer:
D). Bertollini will advertise, but YumYum will not advertise
Explanation:
Base on the scenario been described in the question between the two company which is Bertollini and YumYum, after both company have done the research, they discovered the advantage to either advertise or not, in the case of YumYum, it could not after after the research because it discovered that it product does not have any staying power in the future this will make them not to advertise
While in the case of Bertollini, after doing a market survey or research, it discovered that it product is very good and consumers who purchase the product will continue to buy over an issuing year, so it will advertise.
Answer:
D). Bertollini will advertise, but YumYum will not advertise.
Explanation:
Marginal costs represent the additional costs incurred by a firm arising from additional volume of production.
This would take to consideration major components of costs; variable, labor and fixed.
It is save to say that the firm is already in business and its existing production line will serve for the new product roll out, and if there will be need for an extra investment in the production line it will feature in its Marginal costs computation.
Let's look at YumYum
New product for 2
Selling price = $9
Marginal costs = $2
Profit = $7
The peak volume expectation in sales based on research is 1.5million orders
Profit therefore will be $7 x 1.5million = $10.5million
Projected Advert costs = $12m
If YumYum advertises, it will end in a loss position of -$1.5million. (I doubt the shareholders in YumYum will be willing to invest in advert on this product)
Now, let's look at Bertollini
New product for 2
Selling price = $9
Marginal costs = $2
Profit = $7
The peak volume expectation in sales based on research is 1.5million orders monthly = 18 million per annum
Profit therefore will be $7 x 18million = $126million
Projected Advert costs = $12m
If Bertollini advertises, it will be the right investment to take to sustain demand for its product. Besides it doesn't significantly impact its profit which will become $114m (The shareholders of Bertollini will allow the investment in advertisement)
Consumers regard Dell computers and Apple computers as substitutes. If the price of a Dell computer decreases, the A. supply of Dell computers increases. B. demand for Apple computers decreases. C. demand for Dell computers increases. D. demand for Apple computers increases.
Answer:
B. demand for Apple computers decreases.
Explanation:
If two things are substitute of each and other, that generally in simple words means either this or this. As we can see in the statements that has been provided in the question that Dell and Apple computers are substitute of each other, so if the amount from Dell computer decreases then the demand of the computers made by Apple company will absolutely decrease.
Because two devices which carries almost same qualities and features are also substitute of each other, if price of one device from the both substitutes will decrease, everyone will rush to buy the device with low price and the device with high price will get less popular among the consumers. So, this is the reason which says OPTION(B) is the correct answer.
Final answer:
A decrease in the price of Dell computers, which are viewed as substitutes for Apple computers, leads to an increased demand for Dell computers and a decreased demand for Apple computers. This is demonstrated by a rightward shift in the demand curve for Dell and a leftward shift for Apple in supply and demand diagrams.
Explanation:
When considering the effect of a price decrease for Dell computers, which are substitutes for Apple computers, it is essential to understand the basic principles of supply and demand. A decrease in the price of Dell computers does not affect the supply of Dell computers; rather, it affects the quantity supplied at a given price due to potential changes in production scales or sales strategies by the manufacturer or retailers. The correct answer is B. demand for Apple computers decreases.
As the price of Dell computers falls, consumers view Dell as a more attractive option compared to Apple computers. Consequently, the demand for Dell computers increases because they are a better deal relative to the now comparatively more expensive Apple computers. This situation reflects a substitution effect where consumers opt for the cheaper alternative, leading to a decrease in demand for the substitute, in this case, Apple computers.
An illustration through supply and demand diagrams would show a rightward shift in the demand curve for Dell computers, indicating an increase in demand. Conversely, the demand curve for Apple computers would shift leftward, showing a decrease in demand for Apple computers as consumers switch to the now cheaper Dell computers.
Which pricing strategy simplifies the pricing decision by pricing different products in a product line at different price points depending on their quality, features, and cost dash for example, good (basic), better (upgraded), and best (premium)?
Answer:
Price lining
Explanation:
Price lining can also be called product line pricing, it is a marketing strategy where a business prices its offerings according to the quality, features, or attributes to differentiate it from other similar offerings.
In other words, price lining is a process of grouping similar offerings under different price brackets, each varying slightly by the quality features, or attributes on offer. These brackets usually tend to start low and go higher in price.