Answer:
Pain is a subjective experience and it is whatever the patient says it is
Explanation:
One the principles of managing pain of patients effectively is to acknowledge the fact that pain is an individual experience, and it is whatever the patient says. It is an unpleasant sensation and emotional experience that is subjective to the patients history and expression of pain. Hence, a patient like John, who lays such complain of his experience of pain at the hospital, should be assessed further to better address his predicament.
C. Restate the objection. Exchanging "price" for "value".
Answer: $36,000 loss
Explanation:
Purchase cost = $250,000
Freight charges = $3500
Installation charges = $2500
Maintenance cost = $5000
Depreciation = $25000
Offered price = $200,000
Total cost incurred = $(250,000 + 3500 + 2500 + 5000)
Total cost incurred = $261,000
Depreciation = $25,000
Book value of equipment = $261,000 - $25,000 = $236,000
Gain/loss = Book value - offered price
Gain/Los = $236,000 - $200,000
$36,000 loss
It is known as the Prospect Theory Effect.
Prospect Theory is the tendency to feel stronger negative emotions than positive emotions when losing something of value. It is an assumption that losses and gains have different values even if they are really both equal. For an instance, there are two options presented- one shows potential gains and the other shows possible losses. The former option will be chosen because the probability of gain is perceived greater.
Answer:
$320,000 or $0.32 million
Explanation:
In accounting, the percentage of bad debt expenses is applied to the outstanding accounts receivable at the end of a particular accounting period.
In the question, the end of the accounting period is given as December 31 and the outstanding accounts receivable as at that December 31 is a total of $6.40 million. Therefore, we will disregard other values and simply apply 5% to the the outstanding accounts receivable of $6.40 million as at that December 31 as follows:
Bad debt = Outstanding accounts receivable × 5%
= $6.40 million × 5%
= $6,400,000 × 5%
= $320,000
Therefore, the amount of bad debt expense to recognized for the year is $320,000 or $0.32 million.
