Answer:
The correct answer is letter "D": you have experience related to the product.
Explanation:
The reference price is the price buyers are willing to pay for a given good or service based on different features of the product such as quality, availability and the type of need it satisfies compared to what competitors can offer.
<em>The real price of the product is considered adding the value individuals can provide to the good or service based on the interaction they have had with similar items</em>. Quality information might influence the reference price to be set.
Answer:
a. flow of costs.
Explanation:
job order costing system is used mainy by companies that make small quantities of distinct products or performs unique services that sticks to specifications as design by the purchaser.
Answer:
The financial crisis that began in the 1980s was the result of lax government regulations and management fraud that led to the closure of more than 1,000 savings and loans. The 2007 crisis was the result of risky mortgage loans and investments connected with those loans. In each case the situation resulted in borrowers’ inability to pay back loans and caused many to lose their homes due to foreclosure.
Explanation: Took the practice test on edge and this was the sample response. ^-^
Answer:
First mover; Late mover
Explanation:
In many cases companies who enter a market after innovative products have been introduced can achieve long-term competitive advantages by continuing to develop a better mousetrap. For example, VisiCalcwas the first company to introduce a desktop spreadsheet program but Lotus Notes cornered a large market share when it introduced the 1-2-3 program. Today, however, Microsoft's Excel is the dominant spreadsheet software program and has continued to endure due to the popularity of the Microsoft Office Suite of products. VisiCalc possessed a <u>First Mover</u> advantage while Microsoft enjoyed a <u>Late Mover</u> advantage.
First mover advantages: It is the marketing strategy of initiating any technique in the market to gain competitive advantages for being the first entrant with any new technique or technologies. It also helps in gaining brand recognition and market share.
Last mover advantages: It is another marketing strategy to gain competitive advantages by late introducing the product in the market after learning from the technique of competitors, it also helps in avoiding mistakes of rivals in the market.
In the given case, VisiCalc has enjoyed first-mover advantages as it was first one of its own type to be introduced in the market, however, Microsoft enjoyed last mover advantages as the consumer has found better and easier product than previous one, which was in the favor of Microsoft.
Cash Basis Income:
1. Cash 105000
Sales revenue 105000
2. Cash 24400
Sales revenue 24400
3.No entry
4.Expense 73200
Cash 73200
5.Expense 31000
Cash 31000
6.No entry
Sunland industries
Cash basis net Income
Sales (105000+24400) =129400
less: expenses (73200+31000) =(<u>104200</u>)
Income 25200
Accrual Basis Income
. 1.a.) Account receivable 105000
Sales revenue 105000
b.) Cash 105000
Account receivable 105000
2. a)Account receivable 24400
Sales revenue 24400
b) Cash 24400
Account receivable 24400
3. Account Receivable 38100
Sales revenue 38100
4.a) Expense 73200
Payable 73200
b) Payable 73200
Cash 73200
5.Payable 31000
Cash 31000
6. Expenses 41100
Payable 41100
Sunland industries
Accrual basis net Income
Sales (105000+24400+38100) =167500
less: expenses (73200+41100) =(<u>114300</u>)
Income 53200
