Answer: Option (d) is correct.
Explanation:
Correct option: All of the above are correct.
In a perfectly competitive market, there are large number of buyers and sellers. Price and demand of the commodities are determined by the market forces. All the firms in a competitive market are price taker.
Any single firm cannot influence the market price. If a single firm tries to increase their price by a small amount, will lose all of its product demand to other firms. This is because of the competition among the firms.
Answer and Explanation:
The journal entry is
Salaries and Wages Payable $50,000
Salaries and Wages Expense $25,000
To Cash $75,000
(Being cash paid is recorded)
Here salaries & wages payable and salaries & wages expense is debited as it decreased the liabilities & increased the expense while the cash is credited as it decreased the assets
Yes it is a good idea which can increase the company's bottom line
Answer:
1. Based on her years of experience, Joan Johnson can answer the question by detailing the advantages and disadvantages of incorporating in each state for the client.
2. If Joan does not feel confident enough to address the question, then she can refer the matter to her supervisor.
3. If Joan answers, the client will derive immediate satisfaction and will be confident to continue the relationship with the firm. This is because his awareness that the firm can address his questions is re-enforced.
4. If Joan does not answer the client immediately, the client may feel that the firm's personnel are not well-trained and are unable to handle not-too difficult technical issues.
Explanation:
A firm's clients usually require immediate clarifications whenever they ask their questions. Therefore, an effective and efficient firm should ensure that its paralegal officers are well-trained and well-informed to handle initial client enquiries while the details are referred to their supervisors.
