The supply of the product tend to be more inelastic when the prices of the goods are high. Supply inelasticity is caused by the sudden change of the price of goods needed to release the supply and more often than not, that change of price is a price hike; meaning, the increase of price reasonable or not.
Answer:
There are two primary rules of thumb for deciding if intellectual property protection should be pursued for a particular intellectual asset. First, a firm should determine if the intellectual property has value in the marketplace. Second, a firm should determine if its intellectual property has value in marketplace.
Explanation:
An intellectual property is anything that is as a result of creativeness and has value in the marketplace. They are Four Key Forms of Intellectual Property which are patents, trademarks, copyrights, and trade secrets . Intellectual property laws are made to encourage creativity and inventiveness by granting to individuals who spent their time and money in creative endeavors exclusive rights for a period of time so as to benefit from their creativity.
There are two primary rules of thumb for deciding if intellectual property protection should be pursued for a particular intellectual asset. First, a firm should determine if the intellectual property has value in the marketplace. Second, a firm should determine if its intellectual property has value in marketplace.
Answer:
Option (B) is correct.
Explanation:
The Journal entry is as follows:
Interest expense A/c Dr. $625
Note payable A/c Dr. $1791.60
To cash $$2,416.60
(To record the first month’s payment on January 31, 2021)
Working notes:
Monthly interest expense:
= (Note payable × Interest rate per annum) ÷ 12 months
= ($125,000 × 6%) ÷ 12 months
= $625
Note payable = $2,416.60 - $625
= $1,791.60
Answer:
"Authority limits" are an essential part of the creation of a qualified organization. There are a number of advantages and requirements in setting such limits.
A philosophy scholar who publishes books is an example of authority.
Explanation:
The source of strength is limited authority. The ability to say, "I cannot agree to your offer because the manager does not let me do so or since company policy does not allow you to do so" is an effective way of saying 'no' and of finding out how hard it is for the rest to work to reach a better understanding. One way to simultaneously limit your power and gain power is through corporate limitations.
Authority organizational restrictions are common. Each of us met such limits without much resistance and accepted them. When you next wish to think about or try to make further concessions, tell the other party you should discuss the issue with one or more of your organization's following people:
- One or more of your assistants.
- One or several of your colleagues.
- The accountant or the controller.
- The banker who loans money for you.
- Managers in other departments such as production, quality, or sales.
Most negotiators feel uncomfortable with their authority's corporate constraints. I would advise you not to reject these restrictions, but to welcome them. It will facilitate pushing for your desired agreement.
