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2 years ago

D) Identify and explain two reasons why accurate market research information should be accurate

Business

1 answer:

bazaltina [42]2 years ago

8 0

Answer:

When businesses are deciding how to develop their products and services, they undertake market research. Market research can either be done by the company itself or taken from elsewhere. Having reliable market research data is essential. Basing decisions on unreliable research can be very costly to a business. For research to be reliable, it must have a high level of validity. This means that the facts and evidence gathered are accurate.

Two reasons why market research should be accurate:

Business Risks: Regular market research will be your way to check in with your current customers and potential customers to ensure that you’re still meeting their needs. If it is accurate business risks are reduced but if inaccurate, it could lead to the crash of your business.

Decision-making: The need for and importance of marketing research frequently comes up when making tough business decisions. Instead of having arbitrary criteria for the decisions you make as a business owner, you can always go back to your market research report. Based on that report, will this decision lead to more customers? Will you be able to reach more people who are likely to buy from you? Will it be clear to them that your business can meet their needs? With an accurate market research, the business can make properly informed decisions but with inaccurate market research, the business will be making unwise decisions

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How did the extra, one-time payment of $100 affect the total interest Janet pays on the loan?

Shkiper50 [21]

Amortization simply means the practice of spreading the cost of an intangible asset over the useful life of the asset.

Your question is incomplete as you didn't provide the amortization table. Therefore, an overview of amortization will be given.

It should be noted that amortization is usually expensed on a straight-line basis. In such a case, the same amount will be expensed for every period over the life of the asset.

For example let's assume that Janet borrows $2000 at 4% for 2 years. The interest that will be paid will be:

= $2000 × 4% × 2

= $2000 × 0.04 × 2

= $160

The interest here is $160. Based on the question, since $100 has been paid, it should lead to a lower interest that will be paid on the loan.

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brainly.com/question/25443577

7 0

2 years ago

Castle Leasing Company signs a lease agreement on January 1, 2020, to lease electronic equipment to Jan Way Company. The term of

lisov135 [29]

Answer:

A. 01-01-2020

Dr Lease receivable $160,000

Dr Cost of goods sold $105,488

Cr Sales $145,488

Cr Inventory $120,000

12/31/20

Dr Cash $78,244

Cr Lease receivable $70,244

Cr Interest revenue $8,000

12/31/21

Dr Cash $78,244

Cr Lease receivable $73,756

Cr Interest revenue $4,488

B. Dec 31,2021

Dr Cash $ 16,000

Cr Sales revenue $ 16,000

Explanation:

Preparation of the journal entries

First step is to Compute the annual payments

Present Value of lease payment

Fair value $160,000

less: present value of residual value $14,512

(16000*0.90703)

Present value of lease payment $145,488

Annual lease payment (145488/1.85941) = $78,244

Present value of $ 1 at 5 % 2 periods = 0.90703

Present value of an ordinary annuity of $ 1 at 5 % 2 periods = 1.85941

Second step is to computer the Lease Amortization Schedule

CASTLE LEASING COMPANY (Lessor)

Lease Amortization Schedule

1/1/20 $160,000

12/31/20 $78,244 $8,000 $70,244 $89,756

12/31/21 $78,244 $4,488 $73,756 $16,000

12/31/21 $16,000 0 $16,000 0

12/31/20

($160,000*5%)=$8,000

$78,244-$8,000=$70,244

$160,000-$70,244=$89,756

12/31/21

($89,756*5%)=$4,488

$78,244 -$4,488=$73,756

$89,756-$73,756=$16,000

Lease Receivable = ($78,244 × 1.85941) + ($16,000 × 0.90703)

Lease Receivable = $160,000

Cost of Goods Sold = $120,000 - ($16,000 × 0.90703)

Cost of Goods Sold= $105,488

Sales Revenue = $160,000 - (16,000 × 0.90703) Sales Revenue = $145,488

Now let prepare the JOURNAL ENTRIES

A. Preparation of the journal entries on the books of Castle Leasing to reflect the payments received under the lease and to recognize income for the years 2020 and 2021.

01-01-2020

Dr Lease receivable $160,000

Dr Cost of goods sold $105,488

Cr Sales $145,488

Cr Inventory (given) $120,000

( To record lease )

12/31/20

Dr Cash $78,244

Cr Lease receivable $70,244

Cr Interest revenue $8,000

($160,000*5%)

(To record interest revenue for Dec 2020)

12/31/21

Dr Cash $78,244

Cr Lease receivable $73,756

Cr Interest revenue $4,488

(To record interest revenue for Dec 2021)

B. Preparation of the journal entry to record the sale on Castle Leasing's books.

Dec 31,2021

Dr Cash $ 16,000

Cr Sales revenue $ 16,000

( To record sale on castle leasing's books )

6 0

3 years ago

What information about the competition would an entrepreneur want to open a house-cleaning business that was based upon a price-

LUCKY_DIMON [66]

Answer:

Firstly, he would have to research what price the competitors are charging, the cleaning products they are using and, if possible, what kind of cleaning method their cleaners are using. With that in mind, we would compare to his cost and know if his service is cheaper or more expensive than the market average. To minimize costs he could, for example, buy cheaper cleaning products or researching cleaning methods that use fewer chemicals. To differentiate himself, gaining a competitive edge in this market, he could offer as well a service of doing groceries for the house, giving that the majority of consumers that hire cleaning services work all the time and don’t have time to go to the market. Or he could advertise that he uses eco-friendly cleaning products, showing that his business cares about the environment.

4 0

3 years ago

Is there another reason for product disassembly besides the modeling and electronic documentation of parts?

otez555 [7]

Yes. When you know how to disassemble a product it allows you to examine the inside workings and parts of the product and learn its functionality. Those on the manufacturing side or customer service/technical support should know how products work inside and out so they can better asset the purchaser.

4 0

3 years ago

You were planning to spend Friday working at your part-time job, but a friend asks you to go kayaking.

zysi [14]

Answer:

b. The fee for accessing the river in a national park

c. The wages you forgo by going kayaking

d. The rental of any kayak equipment you need

Explanation:

True cost includes all the cost incurred in kayaking and opportunity cost. All the costs incurred in kayaking includes :

The fee for accessing the river in a national park

The rental of any kayak equipment you need.

The opportunity cost of kayaking is: The wages you forgo by going kayaking.

I hope my answer helps you

3 0

3 years ago