Answer:
A . Should avoid social responsibility whenever it is possible to do so.
Explanation:
Under the shareholder theory as suggested by Milton Friedman, a corporation should not engage in any type of philanthropy, since that is not its purpose. Instead, the corporation can deliver dividends to its shareholders, who then have the option to donate the money for philanthropic purposes, if they choose to do so.
Answer:
Raises ;
C. A drought in Kansas is not significant enough to affect the worldwide price of grain.
Explanation:
Drought is a situation where there is shortage of water due to prolong absence of rainfall.
This is because, when Kansas has a drought, purchasers or buyers can substitute wheat from other places for Kansas wheat.
But, when the whole world has a drought, purchasers or buyers have no other suppliers of wheat to substitute. This means that, no area will have wheat so that the buyers can buy, because every area will be affected by the drought.
In this case,the demand for wheat is inelastic in the short run.
The term that is being described above is what we call the CREDIT UNION. This is a nonprofit cooperative wherein members are allowed to make deposits, and with these pooled deposits, the members can borrow money with minimal interest rates. Hope this answers your question.
Answer:
The journal entries are made below;
Explanation:
May 1. Account Receivable-Beijing Palace Co. Dr.$18,900
Sales Revenue Cr.$18,900
Cost of Goods Sold Dr.$11,200
Inventory Stock Cr.$11,200
Aug 30. Cash Dr.$8,000
Bad Debt Expense Dr.$10,900
A/R-Beijing Palace Co. Cr.$18,900
Dec 8. A/R Beijing Palace Dr.$10,900
Bad Debt Expense Cr.$10,900
Cash Dr.$10,900
A/R Beijing Palace Co. Cr.$10,900
Answer:
Sales ticket, Telephone bill, Invoice from supplier and Bank statement
Explanation:
Source documents are used as source of information for accounting entries that can be either electronic or paper form. It is the original document which contains the details of a business transactions. It is the source to record accounting transactions. Usually it contains 'Names of the parties involved, Amounts, the date and substance of the transaction'. Simply for the auditor it serves as an evidence to accounting transactions and for the company it serves as a proof.
<u>Source documents:</u>
Sales tickets, it is the evidence to sales revenue
Telephone bill, it is the evidence to telephone expense
invoice from supplier, it is the evidence to purchases
Bank statement, it is the evidence to 'bank charges like interest expense, interest income.
