Collateral- Something pledged as security for repayment of a loan, to be forfeited in the event of a default.
Answer:
The correct answer is c) $9,000
Explanation:
If net credit sales are $300,000 and bad debt expense is estimated at 3% of net credit sales.
$300,000 x 3%= $9,000
or
$300,000 x 0.03= $9,000
The amount of the adjusting entry to record the estimated uncollectible accounts receivables is $9,000
Answer:
A) Diffusion of responsibility; escalation of commitment.
Explanation:
Diffusion of responsibility relates to the concept of psychology in which the individual tends to create the responsibility of some different person, because the group size is to large and then the individual thinks not to take the responsibility.
Escalation of commitments relates to the fact that an individual continues with all the previous decisions and do not alter his actions, in consideration to the current circumstances.
In the given instance, John Walker the CEO never met any of the employees of third-world nation, and therefore, he continues his decision, that this plant shall be closed as he once again do not study all the plants, but believes illogically that the close of this plant will be beneficial to company.
Answer:
Food technologists are responsible for the safe and efficient development, modification and manufacture of food products and processes.
Explanation:
