Answer:
Part 1
Recording of transactions
June 2
Debit : Merchandise Inventory $1,700
Credit : Accounts Payable $1,700
June 4
Debit : Freight expenses $200
Credit : Cash $200
June 8
Debit : Accounts Payable $300
Credit : Merchandise Inventory $300
June 10
Debit : Accounts Payable $1.400
Credit : Discount received $14
Credit : Cash $1,386
June 11
Debit : Accounts Receivables $3,000
Debit : Cost of sales $2,200
Credit : Sales Revenue $3,000
Credit : Merchandise Inventory $2,200
June 18
Debit : Cash $2,000
Credit : Accounts Receivables $2,000
June 20
Debit : Merchandise Inventory $2,800
Credit : Accounts Payable $2,800
June 23
Debit : Accounts Receivables $4,300
Debit : Cost of sales $2,600
Credit : Sales Revenue $4,300
Credit : Merchandise Inventory $2,600
June 26
Debit : Accounts Payable $300
Credit : Merchandise Inventory $300
June 28
Debit : Accounts Payable $2,500
Credit : Discount received $75
Credit : Cash $2,425
Part 2
Circuit Country
Multiple-step income statement for the month of June
Sales Revenue ($3,000 + $4,300) $7,300
Less Cost of Sales ($2,200 + $2,600) ($4,800)
Gross Profit $2,500
Explanation:
Part 1
Perpetual inventory system keeps accurate records of the cost of sales and inventory balance after each and every purchase and sale made.
Also remember, Payments are always made less of credit allowance and discount (if payment is done within the discount period).
Part 2
A multiple -step up to gross profit is required. The data concerning Sales and Cost of Sales can be easily extracted from the records.
For each of the following indicate whether unemployment is cyclical, structural, seasonal, frictional (or if this is not unemployment).
(Cyclical, Structural, Seasonal, Frictional, Not Unemployment) Bill just graduated from college and has yet to find his first job. He is confident that he will find a job.
(Cyclical, Structural, Seasonal, Frictional, Not Unemployment) Jane does not have a job because she has elected to stay home to care for her children.
(Cyclical, Structural, Seasonal, Frictional, Not Unemployment) Ned was a steel worker, but the plant closed because US factories can buy steel from China, Ukraine, and others more cheaply. It is unlikely that the plant will reopen.
Answer:
Frictional
Not Unemployment
Structural,
Explanation:
Unemployment can be defined as members of the labour force that do not have a job but are actively seeking employment
Types of unemployment
structural unemployment is an unemployment that occurs as a result of changes in the economy. These changes can be as a result of changes in technology, polices or competition. Structural unemployment tends to be permanent. Ned is structurally unemployed due to changes in his industry
Frictional unemployment: the period of time a person is unemployed from the period he leaves his current job and the time he gets another job. Eg. The period from when graduates till when he gets a job, he is frictionally unemployed
Cyclical unemployment: it occurs as a result of fluctuations in the economy. Unemployment would be high in a downturn and low in a boom
Jane is not unemployed because she is not seeking employment
Lauren owns a spa and is contemplating whether to eliminate facials from her menu of services. To decide, she asked a few customers their opinion. But these particular customers never had a facial before, so they told Lauren to eliminate this service. And she did. What general principle did Lauren fail to follow in trying to measure performance
The general principle Lauren failed to follow when measuring performance is not cutting corners.
What is performance measuring?This is an instrument to evaluate the performance or efficiency of a product or service in a company.
What is the not cutting corners principle about?This principle implies evaluations should be done completely, rather than making it in the easiest way possible because this will cause a negative impact.
What did Lauren do wrong?Lauren failed the not cutting corners principle because she did not ask most of her clients before making this important decision.
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Honest Tea's mission statement is "Honest Tea seeks to create and promote great-tasting, organic beverages. We strive to grow our business with the same honesty and integrity we use to craft our products, with sustainability and great taste for all." Additionally, the company uses only natural ingredients and promotes and practices fair trade with its suppliers. All of these combined suggests that Honest Tea is involved in which of the following sustainable marketing principles?
a Societal marketing
b Sense-of-mission marketing
c Customer-value marketing
d Consumer-oriented marketing
e Innovative marketing
Answer:
b Sense-of-mission marketing
Explanation:
This is the sustainable marketing principle that holds an organization also it defines the mission in social terms at broad level instead of the narrow terms of the product
Since in the question it is mentioned that the company used the natural ingredients and promotes the fair trades with the suppliers. So here it is the sense of mission marketing principle
Hence, the option b is correct
Stock markets are a economic type of globalization
TRUE OR FALCE
Answer:
the answer is true I guess
Answer:
true
Explanation:
UniFront Corp., a telecommunications company, has launched a new limited edition smartphone called zNINE that has advanced technology features and is built using high-grade material. The company has made only 99 of these zNINE cellphones and customers are ready to pay more than what the cellphone is worth because it is so limited in number. This scenario can be best categorized as an example of __________.
Answer: C. rarity
Explanation:
According to the laws of Supply and Demand, when the supply of a good is low relative to its demand, the price will be higher to reflect its relative scarcity or rarity. This ensures that only a few are able to buy the few goods on offer.
This is the case here with UniFront's phone. Due to the rarity of the phone, people will pay more than the phone is worth so that they can acquire it. In other words, the limited number of phones produced relative to the demand is low therefore the price is higher.
URGENT.
True or false. The marketing department is the most important function in business.
Answer:
True
Explanation:
Without the marketing department the business is demolished
Answer:
The answer is true.
Explanation:
The marketing department is one of the most important things a business can do. Not only does marketing build brand awareness but it can also increase sales, grow businesses and engage customers.
On a base level, marketing is useful for customer education. The business owner and employees know the ins-and-outs of the product but do the consumers? In order to buy into a product, the audience needs to have a solid understanding of what it does and how it works. Marketing is the most effective way to communicate the value proposition to the customers in a fun and interesting way. If consumer education is a priority then marketing should be too.
Modern marketing is a less expensive game than ever before. Social media platforms and email campaigns have made reaching out to consumers a much more finance-friendly possibility. Smart marketing can help even the playing field when it comes to competing against big name competitors. Due to the smaller nature of their businesses, SMB leaders often have much more time to pay attention to every client individually via the various marketing platforms. Modern consumers value experience over pricing, so this kind of one-on-one interaction could push customers in your direction over bigger brands.
Marketing is meant to sustain a company’s presence – not remedy a lack of engagement. In this sense, marketing is something that businesses need to create and manage every day to maintain a healthy relationship with their consumers. Marketing is important because it allows businesses to maintain long-lasting and ever-present relationships with their audience. It is not a one-time fix, it is an ongoing strategy that helps businesses flourish.
Customer engagement is the heart of any successful business – this is especially true for SMBs. Marketing solves the question of how to keep a conversation going once the customer has walked out the door. In the past, face-to-face interactions made up much of B2C engagement. Consumers want to be engaged outside the store. This is where marketing comes in, and whatever the medium, a person can send their customers content to keep them engaged beyond store hours. The audience wants to form a relationship with your brand, and marketing can be used to do just that.
Marketing is important because it helps to sell your products or services. The bottom line of any business is to make money and marketing is an essential channel to reach that end goal. SMBs need to create fresh and inviting content to draw customers in and lead them to a purchase. Marketing helps sales and sales help your business.
Marketing is an important strategy to ensure the growth of a business. While the current customers should always be the main priority, marketing efforts can help to expand this base. Little efforts like social media posts and email campaigns can not only engage existing consumers but spread the word to new potential customers. In essence, marketing secures a business’s future through new and old customer engagement.
Claude holds a large number of shares of Bayou Beauty, a regional brewing company that is considered a likely takeover target by a major international brewer. It would probably be in Claude's financial interest if Bayou Beauty's owners: Group of answer choices looked for smaller brewers to acquire instead of selling to the larger brewer. resisted selling at any price. sold the company to the larger brewer. designed a poison pill to discourage a takeover.
Answer: sold the company to the larger brewer.
Explanation:
Based on the information given, it would be in Claude's financial interest if Bayou Beauty's owners sold the company to the larger brewer.
The reason for this is that the same of the company to the major international brewer will result in long term performance and dividends.
An attorney came to work on a Saturday. When he signed in, he was advised by the morning security guard employed by the building management that he must be out of the building by 5 p.m., when it closes. However, he stayed past 5 p.m. to complete a brief that had to be filed on Monday morning. At 5:15 p.m., the afternoon security guard set the locks on all the doors of the building and left. Because she was in a hurry, she did not check the sign-in sheet to make sure that everyone had signed out, contrary to mandatory procedures. When the attorney tried to exit 15 minutes later, he discovered that the doors were all locked and could not be opened from the inside. He used his cell phone to call for help, and a supervisor from the building arrived and let him out shortly thereafter. If the attorney sues the building management for false imprisonment, is he likely to win
Answer:
The attorney will most likely lose if he sues for false imprisonment
Explanation:
False imprisonment is also called unlawful imprisonment. It is the act of confining a person to an area without legal authority, justification, or consent of the person that is restrained.
In the given scenario the attorney was informed that he office will be locked by 5 am. If he was staying longer he should have informed the security.
Also the security guard did not intentionally lock him in as she was not aware he was present.
For one to be guilty of false imprisonment these three conditions should be met:
- an act that confines a person to a particular area
- intention of confining the person
- causation
These conditions were not met in this case.
In the early 1980s, a new technology was introduced to banks where customers could withdraw their money without having to enter the bank or keep baking hours. As the first ATMs began to be introduced to more and more banks, it began to have an effect on bank personnel. Thinking about the bank environment, identify who would most likely be impacted by this technology change and suffer long term structural unemployment
Answer: A bank teller with 4 years of relevant work experience and a high school diploma
Explanation:
Structural unemployment refers to an unemployment that is caused as a result of the mismatch between the skills that an individual has and the skills that an employer wants from his or her employees.
With the introduction of the automated teller machine, the person that will be affected is the bank teller with 4 years of relevant work experience and a high school diploma because the person helps in handling cash and giving out funds to the customers inside the bank but the ATM can solve this.
Emily is deciding whether to buy the same designer jacket her friends have. The jacket is much more expensive than a similar one from a lesser-known brand.
Which questions should she consider before she buys the jacket? Check all that apply.
Is advertising influencing her?
What are her motivations?
Has she compared prices?
Is she buying at the right time?
Will her sister like the jacket too?
Answer: Is advertising influencing her?
What are her motivations?
Has she compared prices?
Is she buying at the right time?
Explanation:
The questions that she should consider before she buys the jacket include:
• Is advertising influencing her?
• What are her motivations?
• Has she compared prices?
• Is she buying at the right time?
Before buying the jacket, the question "Will her sister like the jacket too?" shouldn't be considered as she is looking to satisfy her own needs and not that if her sister and in this case, he sister shouldn't have an impact on her buying decision.
Answer:
A, B, C, D
Explanation:
edge2021
Davenport Inc. offers a new employee two options. First, the employee can receive a one-time signing bonus at the date of employment. Second, the employee can take $31,000 at the date of employment and another $58,000 three years later. Assuming the employee's time value of money is 7% annually, what single payment in the first option would be equal to the total of the payments in the second option
Answer:
$78,345.28
Explanation:
Present value of amount paid later = Amount paid three years later * PV of $1
Present value of amount paid later = $58,000 * [1/(1.07)^3]
Present value of amount paid later = $58,000 * 0.816297877
Present value of amount paid later = $47345.276866
Present value of amount paid later = $47345.28
Present value of second option = $31,000 + $47,345.28
Present value of second option = $78,345.28
What are human rights
An interest-free period during which a credit card owner can pay off a balance
without having to pay finance charges is called a
A. grace period
B. minimum monthly payment
o
C. billing cycle
a
D. finance charge
Your classmates from the University of Chicago are planning to go to Miami for spring break, and you are undecided about whether you should go with them. The round-trip airfare is $600, but you have a frequent-flyer coupon worth $500 that you could use to pay part of the airfare. All other costs for the vacation are exactly $900. The most you would be willing to pay for the trip is $1,400. Your only alternative use for your frequent-flyer coupon is for your trip to Atlanta two weeks after the break to attend your sister's graduation, which your parents are forcing you to attend. The Chicago-Atlanta round-trip airfare is $450. Should you use the frequent flyer coupon to go to Miami?
Answer:
the answer is 5690$. I think so
A business must decide whether to open a new office in China. If it opens the
branch, it will increase its chances of selling a high volume of its products in
China. On the other hand, the business will have to spend a lot of money to
make the branch operational.
What would be an opportunity cost for the business if it chooses to open the
new branch in China?
A. The business would be able to increase the selling prices for most
of its products.
B. The business would be able to easily sell its products to many
new customers.
C. The business could not use the money it spends on the new
branch for something else.
D. The business would have to spend all its money making new
Chinese products.
Answer:
C. The business could not use the money it spends on the new
branch for something else.
The CEO/chairman of PharmaPacifica was recently killed in an airplane crash. This tragedy has thrown PharmaPacifica into turmoil as there is no one in the organization qualified to step into the former CEO's shoes. This is an example of: a. the risk inherent in CEO duality. b. excessive reliance on the internal managerial labor market. c. managerial hubris. d. a failure of succession management.
Answer:
d. a failure of succession management.
Explanation:
Since in the given situation it is given that the CEO of the company killed in the airplane crash and other than him there was no one who is well qualified for the post of the CEO or chairman so this situation represent that there is the failure of the management when some higher authority is not there to direct them or seeing their performance aslo it is now very difficult to attain the company goals and objective
Therefore the option d is correct
Why would a manager begin the evaluation process by asking the individual to evaluate his or her contributions to the project?
Answer:
To determine the employee's strengths and weaknesses
Explanation:
The reason a manager would begin the evaluation process of an employee by asking the individual to evaluate his or her contributions to the project is "to determine the employee's strengths and weaknesses"
This is a form of self-assessment to the employee. Hence, it allows the employer to let the employee know his current abilities and proficiency without the need for an appraiser or biased judgment.
For example, the self-assessment will include questions like "what are my strengths"
Nivea works for Bonbon, a fair-trade chocolate company based in California. In addition to being recognized for the delicious, low fat treats the company manufactures, Bonbon is also known for fair labor practices at its factories. When interviewed, 83% of the company's loyal customers said when they couldn't find Bonbon products for purchase in local stores, they ordered them online rather than buy substitute products.
Which type of brand loyalty is illustrated here?
Select one:
a. brand preference
b. brand competition
c. brand insistence
d. brand recognition
e. brand name
Answer:
c. brand insistence
Explanation:
Since in the given situation it is mentioned that the 83% of the loyal customers could not find the bonbon products at local stores so they will ordered online instead of purchasing the substitute goods as in the brand insistence refer the stage of the brand loyalty where the purchase would accept no alternatives and they will search for the particular brand only
Which of the following might a lender require for a construction loan? Select all that apply.
1. A car for collateral
2. A 20% down payment
3. Builder qualifications
4. Construction details
NO LINKS (I’ll get you banned if so)
2. Most lenders require a 20% minimum down payment on a construction loan.
11. This year, teachers can eam a $250 tax credit on money they spend in their classrooms. How will this tax credit affect the teachers' tax returns?
A. The $250 will come directly off of the amount of taxes the teachers owe.
B. The $250 will be subtracted from the teachers' gross incomes.
C.This credit will put them in higher tax brackets.
D.This credit is not big enough to make any impact on the teachers' taxes.
Answer: A. The $250 will come directly off of the amount of taxes the teachers owe.
Explanation:
When given a tax credit of a certain amount, it means that you can deduct that amount from the taxes you owe which means that the taxes you are to pay will be reduced. If you received a tax credit of $500 for instance and you owed taxes of $2,000, your taxes would become $1,500.
In this scenario therefore, with the teachers receiving a tax credit of $250, taxes that the teachers owe will be reduced by $250.
Luka, who owns a small breakfast and salad bar, has a reputation in the community as a tough manager. Many customers have heard Luka yell at his employees because he feels that workers today are lazy, lack ambition, and hate to work. Luka is a(n) ________ manager. Group of answer choices Theory Z participative contingency Theory X Theory Y
Answer: Theory X
Explanation:
A Theory X manager refuses to believe that workers can be internally motivated. They believe that workers are lazy, lack ambition and hate to work and so there is a need to continually push them to work.
This push can come in the form of punishment, rewards or prompting. Luka yells at his workers to push them to work by prompting them to. This style is generally looked down on today.
One of the problems associated with the utilitarianism is that it does not recognize that taxing those with higher incomes results in less work effort. each individual receives a different marginal benefit from a dollar's worth of income. equity is achieved when there is no poor and no rich. similar individuals should be treated the same.
Answer:
taxing those with higher incomes results in less work effort.
Explanation:
In normative ethics, utilitarian ethics (utilitarianism) can be defined as a theory of morality or ethical theory that typically involves engaging in actions that facilitate pleasure, joy or happiness while completely opposing any action capable of causing harm and unhappiness.
Basically, utilitarian ethics considers an action to be right or morally correct if it produces genuine happiness or joy in the mind of a large number of people in an organization, group or society.
The three (3) main principles (axioms) of utilitarian ethics (utilitarianism) include the following;
I. The only thing with an intrinsic value is pleasure or happiness.
II. If an action promotes happiness or pleasure, then it is right; it is wrong if it causes harm or unhappiness (sadness).
III. The happiness of everyone in a group or society should count equally.
One of the problems associated with the utilitarianism is that it does not recognize that taxing those with higher incomes results in less work effort.
Adam Smith's phrase "invisible hand" refers to
A. the subtle and often hidden methods that businesses use to profit at consumers' expense.
B. the ability of free markets to reach desirable outcomes, despite the self-interest of market participants.
C. the ability of government regulation to benefit consumers, even if the consumers are unaware of the regulations.
D. the way in which producers or consumers in unregulated markets impose costs on innocent bystanders
Answer:
B. the ability of free markets to reach desirable outcomes, despite the self interest of market participants.
The Adam Smith's phrase "invisible hand" refers to the ability of free markets to reach desirable outcomes, despite the self-interest of market participants Option(b) is correct.
What does Invisible hands by Adam Smith denotes?The invisible hand is a representation involved by the English moral rationalist Adam Smith for his speculated social system as per which inside the unregulated economies the homegrown bourgeoisie put resources into their nation of origin.
Smith was concerned that if the development of capital and the development of products (imports) were both free, the English bourgeoisie would contribute abroad, to the impairment of England. To this, Smith concocted a contention as per which the English middle class would be one-sided by their place of home and would subsequently make interests in the nation of origin directed by an "invisible hand".
Smith initially referenced the term in his work Hypothesis of Moral Feelings in 1759, yet it has really become known from his primary work The Abundance of Countries, where the actual word is referenced just a single time.
Therefore Option(b) is correct.
Learn more about Adam Smith here:
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While taking an application, an originator learns that his potential borrower receives income from a public assistance program. Without even running a full pre-qualification, the originator tells the would-be borrower that he cannot help someone who is receiving public assistance. This originator is in violation of the:
Answer:
Equal Credit Opportunity Act (ECOA).
Explanation:
The Equal Credit Opportunity Act (ECOA) is a federal law that was enacted on 28th of October, 1974 by the US Congress. It was created by the government of the United States of America so as to avail all individuals (borrowers) an equal opportunity to obtain loans and other types of credits from creditors (lenders) without any form of discrimination based on factors such as religion, colour, race, marital status, age (provided he or she is mature), sex, etc.
In this scenario, the originator is in violation of the Equal Credit Opportunity Act (ECOA) because an originator is prohibited from basing a decision to give or grant credit to an applicant (would-be borrower) due to the fact that he or she receives income from a public assistance program.
Cost behavior ______. Multiple select question. is the relative proportion of each type of cost in an organization is a detailed analysis technique used to determine whether costs are fixed or variable refers to how a cost will change as activity level changes categorizes costs as fixed, mixed and variable
Answer:
refers to how a cost will change as activity level changes
Explanation:
Cost behaviour is defines as how a business's expenses will change as a result of changes in its activities.
Business managers need to consider activities that may lead to spike or decline in the in expenses.
This will lead a robust annual budget that meets the cost need of the business.
Cost behaviour is divided into 3:
- variable costs that vary directly with changes in business activities. For example direct material cost.
- fixed costs that do not change as business activity changes. For example rent
- mixed costs have a mixture of variable and fixed costs. For example cell phone service that has a fixed charge monthly and also a variable charge for texting
It should be noted that Cost behavior refers to how a cost will change as activity level changes.
Cost behavior can be regarded as the indicator which shows the way a cost will change in total with respect to change in some activity.
Therefore, Cost behavior refers to how a cost will change as activity level changes.
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Clearwater Electronics is planning to open an office in Shanghai , China , and the HR department has been asked to benchmark the compensation practices of other multinational organizations in the region . Why is benchmarking a first good step to developing a compensation and benefits plan to attract and retain nes employees who will contribute to the organization ?
Answer: Benchmarking will ensure that salary and benefit decisions are made on solid data. This information will aid and influence the cost management of the organization.
Explanation:
Benchmarking simply refers to how companies compare their performance metrics and processes to that of other companies in the industry .
Through benchmarking, the organization can collect information of other companies, which will be important in developing a good compensation and benefits plan for the employees.
Bil Tarnofsky makes the following statement: 'We must become more flexible if we are to meet our personnel needs and maximize efficiency. In the past, we simply hired as many full-time employees as we thought we needed. But this focus has caused us to lose many valuable employees. We should offer flextime and job sharing options to help us keep and attract talented employees. "Margaret Robin responds by saying "Alternatives to traditional job design approaches can lead to significant cost savings. Next year we are expected to have 500 more employees than our current facility allows, but my analysis reveals that 600 of our employees could telecommute. Therefore, we can avoid costly actions such as moving our offices or building extensions if these workers became telecommuters, job sharing can also reduce facility costs as well as payroll costs. Tamnofsky and Robin would be most likely to disagree about which of the following questions?
A. Would telecommuting likely lead to cost savings?
B. Does the organization have a moral obligation to offer flextime and job sharing options?
C. If offering a job sharing option would not reduce costs, should the organization still offer it?
D. Would the organization be better able to keep valuable employees if it offered flextime and job sharing options?
E. Are any other organizational structure decisions important for the future of the organization?
Answer:
C. If offering a job sharing option would not reduce costs, should the organization offer it?
Explanation:
The statement Bil Tarnofsky makes is focused on retaining talented employees and attract new talented employees, by offering flextime and job sharing options
The statement Margaret Robin responds with is the use of alternative job design, such as telecommuting could achieve higher cost savings from the need to accommodate the 500 more employees, by moving the offices and expanding the buildings, in the coming year
Tamnofsky and Robin would be most likely to disagree on the different focus of their statements which are; If offering a job sharing option would not reduce costs, should the organization offer it?
Which of the following statements best characterizes the bottom line of security for e-commerce?
A) Good security is expensive but critical, and it is the responsibility of the customer to ensure that his or her private information is secure.
B) Good security is inexpensive but critical, and it is the responsibility of the customer to ensure that his or her private information is secure.
C) Good security is expensive but crítical, and it is the responsibility of the business to ensure that the customer's private information is secure.
D) Good security is inexpensive but critical, and it is the responsibility of the business to ensure that the customer's private information is secure.
Answer:
Good security is expensive but critical, and it is the responsibility of the business to ensure that the customer's private information is secure. C
Explanation:
what is stock exchange
I can't believe it, said Wiley Coyote, I am the president of Acme enterprises and we make $200,000 a year profit with me working my tail off. Our distributor, Road Runner Representatives, made over $800,000 in commissions. I don't understand why they are making all of that money when all they do is run around all day and say beep-beep to customers. I think we should lower the commission rate to bring their income down to a more reasonable level. This is an example of
Answer:
This is an example of vertical conflict.
Explanation:
A vertical conflict can be described as a conflict that occurs between two different types of members in a distribution channel - for example, a manufacturer, an agent, a wholesaler, or a retailer.
In the question the Acme enterprises which its president, Wiley Coyote, represents is the manufacturer; while their distributor is the agent. In this case, a vertical conflict is said to have occurred between the manufacturer and the agent who are both different types of members of the same distribution channel.
Therfore, this is an example of vertical conflict.
