Gershwin Wallcovering Inc. shipped the wrong shade of paint to a customer. The customer agreed to keep the paint upon being offered a 15% price reduction. The price reduction is an example of a:
Answer:
Sales allowance.
Explanation:
From the question we are informed about Gershwin Wallcovering Inc. shipped the wrong shade of paint to a customer. The customer agreed to keep the paint upon being offered a 15% price reduction. In this case, The price reduction is an example of a Sales allowance.
Sales allowance can be regarded as a reduction in the price that was charged by a seller, this reduction usually occur due to a problem with the product or service that is been sold. The problem could be incorrect price as well as quality problem or short shipment.
An unmarried couple wants to buy a house and take title so that when one of them dies the deceased's share will go to the deceased's heirs. The form of ownership they should use when they purchase the house is
Answer:
tenancy in common
Explanation:
From the question we are given an instance, whereby An unmarried couple wants to buy a house and take title so that when one of them dies the deceased's share will go to the deceased's heirs. The form of ownership they should use when they purchase the house is tenancy in common.
Tenancy in common can be regarded as an arrangement involving two or more people sharing ownership rights as regards a property or parcel of land. This property could be be a
residential property or commercial property . In a case, whereby a tenant in common dies, there would be passing over of the property to that tenant's estate. The control of total property by independent owner may be equal or different percentage of the total property. the tenancy in common partner can decide to leave the share he or she has in the property to any beneficiary as a part of their estate.
If a buyer's willingness to pay for a new Honda is $30,000 and she is able to actually buy it for $28,000, her consumer surplus is
Answer:
$2,000
Explanation:
Calculation to determine the consumer surplus
Consumer surplus=$30,000-$28,000
Consumer surplus=$2,000
Therefore consumer surplus is $2,000
One way of dealing with the tradeoff between range and precision is to abandon the concept of a fixed ____________________ point.
Answer:
"Radix" is the correct answer.
Explanation:
An official information type representation over a certain integer with a specific percentage of numbers just after the point (radix), is defined as a fixed point.A symbolic sign for the separation of such an integers component from its population proportion throughout mathematical recognition is termed as a Radix point.Thus the above is the correct answer.
Promotion is one of the 4P‘s of marketing. The promotion mix is ___??
Answer: Promotion mix could be defined as several methods or tools used to improve the market situation of a product, so the product could have more presence and demand in the market.
Explanation:
Promotion mix could be defined as several methods or tools used to improve the market situation of a product, so the product could have more presence and demand in the market. Some of what makes it up are public relations, advertising, personal sales.
During the period after a real estate sales contract is signed, but before title actually passes, the status of the contract is
Question options:
a. voidable
b. executory
c. unilateral
d. implied
Answer:
b. executory
Explanation:
Executory means something that is yet to be finished or concluded so that it becomes valid. An executory contract is in the process of being completed and is therefore considered invalid until it is fully assuredly finished, signed, sealed and delivered.
An executory contract between two parties means contract has been signed but duties promised by either or both parties is yet to be fulfilled and will be done at a later date for contract to be fully executed.
Dana believes that a new phone to be sold by Ear Fruit Inc. will become the most popular phone in the global market. Dana enters into a contract to buy 500 shares of Ear Fruit stock, anticipating an increase in its value. The phone does not become popular, and the price of the stock does not rise. Dana can recover Group of answer choices
Answer:
rf
Explanation:
rcddr6dutft7dfr6d6rdr6xkrxitxurxyrrrxutccfxy
Rudy Company reports gross sales revenue of $5.2 million, net sales revenue of $5 million, and cost of goods sold of $3 million. Rounding to the nearest percent, the company's gross profit ratio would be
Answer:
40 %
Explanation:
Gross Profit ratio = Gross Profit / Net Sales x 100
where,
Gross Profit = Net Sales - Cost of Sales
= $2 million
thus,
Gross Profit ratio = $2 million/ $5 million x 100
= 40 %
The company's gross profit ratio would be 40 %
what are the types of budget
Answer:
Master budget: This is a type of budget where all the other budgets are aggregated.
Operating budget: This budget is used to cover operational costs.
Cash budget: As the name implies, it is used mainly for cash estimates.
Financial budget: Used for all financial transactions.
Labor budget: It is used to estimate what the labor cost will be.
Static budget: This type of budget is static and doesn't change.
If a price index rose from 16.2 in 2010 to 22.5 in 2019, what would the inflation rate be over the period
Answer:
3.8%
Explanation:
The price rose from 16.2 to 22.5 from 2010 to 2019
16.2-22.5/16.2 ×100
= 6.3/16.2 × 100
= 0.38×100
= 3.8%
On August 1 of Year 1, an accountant collected cash in exchange for an agreement to provide consulting services for one year beginning immediately. Based on this information, the year-end adjustment required to recognize earned revenue will affect the ______.
Answer: See explanation
Explanation:
Since we are informed that on
August 1 of Year 1, an accountant collected cash in exchange for an agreement to provide consulting services for one year beginning immediately. From this information, the year-end adjustment required to recognize earned revenue will affect the revenue account as there'll be:
• decrease the balance in the unearned revenue account.
• increase the balance in the revenue account.
9. A necessary condition for international portfolio diversification to be beneficial is that: a. The various national market returns exhibit low correlation. b. The various national market returns exhibit high correlation. c. The various national market returns are perfectly positively correlated. d. The various national market returns exhibit correlations that are non-unity. e. The various national market returns are perfectly negatively correlated.
Answer:
A
Explanation:
International portfolio diversification is the process by which an investor diversifies her portfolio by holding both domestic and foreign assets in her portfolio. The aim of this strategy is to reduce the risk of the portfolio.
Correlation is a statistical measure used to measure the relationship that exists between two variables.
1. Positive correlation : it mean that the two variables move in the same direction. If one variable increases, the other variable also increases.
For example, there should be a positive correlation between quantity supplied and price
When there is a positive correlation, the graph of the variables is upward sloping
2. Negative correlation : it mean that the two variables move in different direction. If one variable increases, the other variable decreases.
For example, there should be a negative correlation between quantity demanded and price
When there is a negative correlation, the graph of the variables is downward sloping
3. Zero correlation : there is no relationship between the variables
For an international diversified portfolio, the optimal situation is for the domestic and foreign investments to have little or no correlation
The three types of buying situations Question 18 options: are theoretical and have little relation to what happens in the real world. suggest that B2B sellers should develop one marketing mix to use for all situations. require business sellers to be consistent in their marketing mixes. create confusion among B2B sellers. call for different marketing and selling strategies.
Answer:
call for different marketing and selling strategies.
Explanation:
Remember, the three types of buying situations are;
new buys,modified rebuys, andstraight buys.For example, in the new buy situation, a single organization is the first to buy a particular product or service, Hence, we would expect the provision of more product and service descriptions than in a straight rebuy situation where the organization is already familiar with the products and just simply reorders an existing product or service from preferred suppliers.
Pat can either drive to work, which takes half an hour and uses $1.50 worth of gas, or take the bus, which takes an hour and costs $1.00. How should Pat get to work?
Answer:
pat should drive if saving half an hour is worth $0.50 or more
Explanation:
Marginal cost is the additional cost generated by producing an additional unit of output.
Marginal cost of taking the bus = 1 / 2 = 0.50
Marginal utility is the additional utility derived from consuming one more unit of a good
Marginal utility per good = marginal utility / price of the good
Pat should take the action that would yield him the highest utility given the marginal cost
So,pat should drive if saving half an hour is worth $0.50 or more
Helen is considering adding a rack of greeting cards to her product offerings at Litton Books Unlimited. Her fixed costs associated with adding the greeting cards would be $300. Variable costs per card are $1 each. The greeting cards will sell for $2 each. Helen's break-even point would occur at __________ cards sold. Multiple Choice 125 150 300 600
Answer:
300
Explanation:
Breakeven quantity are the number of units produced and sold at which net income is zero
Breakeven quantity = fixed cost / price – variable cost per unit
Fixed costs are costs that do not vary with output. e,g, rent, mortgage payments
If production is zero or if production is a million, Mortgage payments do not change - it remains the same no matter the level of output.
Hourly wage costs and payments for production inputs are variable costs
Variable costs are costs that vary with production
If a producer decides not to produce any output, there would be no need to hire labour and thus no need to pay hourly wages.
$300 / ($2 - $1) = 300
in a ____, a strategic manager can condense the strenght, weakness, opportunities, and threats into fewer than 10 strategic factors to review and revise the weight given in each factor.
Answer:
Strategic Factors Analysis Summary (SFAS) Matrix
Explanation:
1. Compare and contrast brokers and agents with merchant wholesalers. 2. Discuss the major public relations tools and the roles played by the internet and social media. 3. Find three examples of advertisements that incorporate socially responsible marketing in their messages. Some companies are criticized for exploring social issues or organizations by promoting them for their own gain. Do the examples you found do that
Answer:
One is owner and the other provides services.
Explanation:
The main difference between brokers and merchant wholesalers is that Merchant wholesalers buy products from manufacturers and sell to other shopkeepers while on the other hand, Agents and brokers are the people who provide buying and selling services. between sellers and buyers as they receive commissions according to their sales and don't buy products directly from manufacturer. Interaction between people, communication and education are the major roles played by the internet and social media.
Emily is a cash-basis taxpayer, and she was an especially productive salesperson last year. In December of last year her supervisor told Emily she had earned a $5,000 bonus. However, Emily received the bonus check after year-end. Identify the principle that will determine when Emily is taxed on the bonus. Multiple Choice Assignment of income Constructive receipt Return of capital principle Wherewithal to pay All of these choices are correct.
Answer:
Constructive Receipt
Explanation:
the term constructive receipt is used when talking in terms of federal income taxes. This term is used to determine when a cash basis tax payer has gotten their gross income in the cash basis method of accounting. the individual here would be needed to pay tax on income even though that the money that the money being taxed is has not been gotten yet by the individual. this income owner would be able to utilize the money although it has not yet been received.
Randa is trying to lower the vacancy rates for the commercial property she manages because her revenue targets will increase by 8% over the next year. What type of budget contains this revenue detail?
Answer:
Operating budget
Explanation:
An operating budget is a detailed projection where the company expected its revenue and expenses for a period of time. It is to be prepared at the closing of the year to represent the expected level of the activity during the following year
So as per the given situation, it is the operating budget that contains the revenue details
A decline in the number of _______ jobs has helped create conditions leading to an increase in the number of high-poverty communities during the past few decades.
Answer:
manufacturing
Explanation:
Juniper Company, Inc. uses a perpetual inventory system. The company purchased $9,750 of merchandise on August 7 with terms 1/10, n/30. On August 11, it returned $1,500 worth of merchandise. On August 26, it paid the full amount due. The correct journal entry to record the merchandise return on August 11 is:
Answer and Explanation:
The journal entry is shown below:
Accounts payable $1,500
To Merchandise Inventory $1,500
(being purchase returns is recorded)
here account payable is debited as it decreased the liabilities and credited the merchandise inventory as it decreased the assets
If the supply of aisle seats equals the supply of middle seats on an airplane, and the demand for aisle seats is _____________ than the demand for middle seats, then the equilibrium price of aisle seats will be ______________ the equilibrium price of middle seats.
Answer:
greater; higher than
Explanation:
Here is the complete question
If the supply of aisle seats equals the supply of middle seats on an airplane, and the demand for aisle seats is _____________ than the demand for middle seats, then the equilibrium price of aisle seats will be ______________ the equilibrium price of middle seats
.a. greater; higher than
b. less; higher than
c. greater; lower than
d. less; the same as
Equilibrium price is the price at which quantity demand equal quantity supplied. Above equilibrium price there is a surplus - quantity supplied exceeds quantity demanded.
Below equilibrium price there is a shortage - quantity demanded exceeds quantity supplied
If the demand for aisle seats exceeds the demand for middle seats, it means that equilibrium price for aisle seat would exceed equilibrium price
Pam hires Will to acquire and deliver a shipment of doodlebugs within two weeks, with time being of the essence. Will receives the shipment of doodlebugs, but Tony offers Will more money for the doodlebugs than Pam offered. Will does not expect to receive any more doodlebugs before his delivery date for Pam. Will decides to deliver the doodlebugs to Tony and collect the larger payment. Will's choice is an example of...
Answer:
a violation of the duty to perform in good faith.
Explanation:
Since in the situation it is mentioned that pam hired will for purchasing and delivering the shipment within 2 weeks but at the same time tony offered more money so he decided to delivered to tony and in return he collect the larger payment amount so here will have done the violation with respect to the duty in order to perform in the good faith
Why is price important to a company?
A.
It covers their costs.
B.
It is a part of the marketing mix.
C.
It makes customers purchase their products.
D.
It brings the company profits and decides its ability to survive in the market.
Answer:
B. It is a part of the marketing mix.
Explanation:
Price refers to the amount of money a customer or consumer buying goods and services are willing to pay for the goods and services being offered. The price of goods and services are primarily being set by the seller or service provider.
Price is important to a company because it is a part of the marketing mix.
Generally, a marketing mix is made up of the four (4) Ps;
1. Products: this is typically the goods and services that gives satisfaction to the customer's needs and wants. They are either tangible or intangible items.
2. Price: this represents the amount of money a customer buying goods and services are willing to pay for it.
3. Place: this represents the areas of distribution of these goods and services for easier access by the potential customers.
4. Promotions: for a good sales record or in order to increase the number of people buying a product and taking services, it is very important to have a good marketing communication such as advertising, sales promotion, direct marketing etc.
Price is generally considered to be a variable in the marketing mix that is most flexible because unlike other elements of production, it can be easily changed. An organization can decide to either raise or lower it's price depending on the nature of the market.
Setting personal goals, peer evaluations, and parental involvement are all components of what type of instructions?
A.
concrete
B.
essential
C.
manipulative
D.
individualized
Concrete instructions is the term for setting personal goals, peer evaluations, and parental involvement.
What is concrete instructions?This is type of instruction that is usually tailored by the teacher to meet the personal goals of the student.
In this type of instruction, the family of the student is usually involved and the peers of the students are all parts of the evaluation process.
Read more on concrete instructions here:https://brainly.com/question/14591988
Answer:
concrete
Explanation:
The manager of a certain division at Alpha Manufacturing is evaluated on how efficiently the division uses equipment, buildings, and other assets to generate profits. This division is considered a(n): Multiple choice question. cost center investment center profit center asset center
Answer:
investment center
Explanation:
From the question we are informed about The manager of a certain division at Alpha Manufacturing who evaluated on how efficiently the division uses equipment, buildings, and other assets to generate profits. This division is considered a investment center. Investment center can be regarded as business unit in a particular organization , which is able to utilize capital in contributing directly to a profitability of the organization. Organization can evaluate the performance of an investment center by consideration of revenues it generate as regards investments.
The manager of a certain division at Alpha Manufacturing is evaluated on how efficiently the division uses equipment, buildings, and other assets to generate profits which are known as an investment center.
What is an investment center?
The investment center has the responsibility to manage the business funds and capital in a manner that creates huge profit revenues. The center monitors and controls the expenses, revenues, and assets of the business.
Therefore, it has to ensure that all resources are being optimized and are allocated effectively to generate profits.
Learn more about business divisions here:
https://brainly.com/question/1196005
Swifty Company developed the following information about its inventories in applying the lower-of-cost-or-net realizable value basis in valuing inventories. Product Cost Net realizable value A $112000 $122000 B 84000 76000 C 153000 156000 If Swifty applies the LCNRV basis, the value of the inventory reported on the balance sheet would be $354,000. $362,000. $341,000. $349,000.
Answer:
$341,000
Explanation:
Calculation to determine what the value of the inventory reported on the balance sheet would be
Inventory value=$112000+ 76000+153000
Inventory value=$341,000
Therefore If Swifty applies the LCNRV basis, the value of the inventory reported on the balance sheet would be $341,000
Based on the substitution effect, which example reflects how people would likely respond to a rise in gas prices
Answer:
People will purchase more fuel efficient cars
Explanation:
People will purchase more fuel efficient cars in order to reduce the consumption of gas.
Better still, this will also leads to increase in the quantity demanded for electric cars; as they did not require gas to operate.
Some sellers put specific limitations in the warranty to limit the effectiveness of a warranty. Such a denial or repudiation in an express warranty is known as:
Answer:
Disclaimer
Explanation:
Express warranties could be simply be described as the agreement which binds a seller and buyer during the purchase of a certain product. Express warranties usually gives buyers the opportunity to return the product to the seller if damaged within a specified period of tine. Express warranty usually has no borders. Tbe use of disclaimer is used by sellers in other to introduce clauses into an express warranty whereby certain terms and conditions are given before the warranty can be deemed as valid. These limitations inteoduced and are capable of voiding the express warranty is called a disclaimer.
Over the last several years, the United States has run a ________ in the goods trade balance and a ________ in the services trade balance.
Answer:
deficit
surplus
Explanation:
When exports exceed import there is a trade deficit and when import exceeds import, there is a trade surplus.
export would comprise of goods and services produced in the US that are been sold to foreign countries
Import would comprise of foreign produced goods and services that are been sold in the US
In 2020, trade deficit was $678.7 billion in 2020
