Answer:
Advertising Expense , Cost of Merchandise Sold , Merchandise Inventory, Sales,Supplies Expense are closed to income summary account. Revenues and expenses are closed to Income Summary.
Explanation:
Closing Entries
a. Accounts Payable: No it is not closed to income summary account.
b. Advertising Expense: Yes it is closed to income summary account.
c. Cost of Merchandise Sold: Yes it is closed to income summary account.
d. Dividends : No these are closed To Retained Earnings Accounts.
e. Merchandise Inventory : Yes it is closed to income summary account
f. Sales Yes it is closed to income summary account
g. Supplies: No prepaid supplies are an asset account and it is included balance sheet.
h. Supplies Expense: Yes it is closed to income summary account
i. Wages Payable: Not closed in the income summary account.
These are liabilities and included in the balance sheet.
Answer:
The answer is: D) Risk is a measure of the uncertainty surrounding the return that an investment will earn.
Explanation:
Investment risk refers to the probability of losing an investment. It measures the uncertainty level of earning returns from an investment.
When an investor anticipates a higher risk, he will expect higher returns. On the contrary, low risk investments (e.g. T-Bills) offer very low yields.
Answer:
When a guest is complaining, emotions will be involved. The empathetic staff member will listen to the guest carefully, not simply offering sympathy
Answer:
cost of direct materials purchases 160,800
Explanation:
pounds required for production 54,000
desired ending inventory 2,800
total needs 56,800
beginning inventory (3,200)
units to be purchased 53,600
cost per unit of direct materials 3
cost of direct materials purchases 160,800
<u>Notes:</u>
The pounds for production and the ending inventory are the raw materials demand.
The beginning inventory is a portion we already have, so we need to purchase less.
Then, we multiply the pounds to be purchased by their cost to get the total cost for direct materials
Information that is collected for the first time from original sources is called primary research.
Primary research is research you contact yourself. A few examples of ways to collect primary research are through surveys, focus groups and observations.
Secondary research is information collected from other sources that once was primary research. Although they are complete opposite to get the most accurate research data it is best to use both primary research and secondary research in your market research.
