LCD Industries purchased a supply of electronic components from Entel Corporation on November 1, 2021. In payment for the $24 mi
llion purchase, LCD issued a 1-year installment note to be paid in equal monthly payments at the end of each month. The payments include interest at the rate of 12%. Required:
1. Prepare the journal entry for LCD’s purchase of the components on November 1, 2021.
2. Prepare the journal entry for the first installment payment on November 30, 2021.
3. What is the amount of interest expense that LCD will report in its income statement for the year ended December 31, 2021?
Letter b is correct. <em>Making sure employees know how their work contributes to the hospital's mission</em>
Explanation:
Performance management is characterized as a set of techniques and practices that together will help to verify the performance of organizational activities and their effectiveness. Its main function is to ensure that the proposed organizational objectives are met. Employees are a key player in organizational performance, so giving them feedback on their performance is important for communication to be effective and for a sense of staff to increase, and consequently their productivity to increase.
During the production or composition of finished goods, some form of labors are directly or indirectly involved in the manufacturing of such finished product. Where labor is not readily traced to the manufacturing of finished product, such is known as indirect labor.
On the other hand, labor that is directly involved in the composition of finished product is known as direct labor. Examples of indirect labor are ; wages of supervisors , clerical staff, general helpers , material handlers and maintenance workers.
The correct answer is letter "A": be driven to a lower price.
Explanation:
Typically, when there is a producer to producer competition, the competing companies tend to <em>lower </em>their product prices. This happens because of the belief consumers are mainly price driven at the moment of discriminating in choosing to buy one good over another. Though, it allows consumers to at least have a couple of sources from where to choose at a fair price.
