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Vesnalui [34]
2 years ago
7

In setting a product's , a business needs to take into account the costs of producing, distributing, and promoting the product a

s well as a profit margin.
Business
1 answer:
Illusion [34]2 years ago
4 0

When setting the price of a product, a company needs to take into account the costs of producing, distributing and promoting the product, as well as a profit margin.

<h3>How to set the product price correctly?</h3>

It is essential that the company align its needs and objectives with the characteristics of the market and its business, in order to define a compatible and competitive price. It is essential to analyze income and expenses to establish an optimal balance in the pricing process, revising the strategy whenever necessary.

Therefore, it is essential that pricing is aligned to the market, to the fixed and variable costs of the business, considering its needs and goals for the business to be well positioned in the market.

Find out more about pricing here:

brainly.com/question/7452044

#SPJ1

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Rent collected in advance is: Multiple Choice A shareholders' equity account in the balance sheet. A temporary account, not in t
gulaghasi [49]

Answer:

A liability account in the balance sheet.

Explanation:

When rent is collected in advance, the entries required to be recognized at the point of collection is as follows;

Debit Cash account

Credit Unearned/Deferred rental revenue

The cash account is an asset while the Unearned/Deferred rental revenue is a liability account.

As such, the collection of rent in advance is A liability account in the balance sheet.

3 0
2 years ago
TRN sold $40,000, of goods and accepted the customer's $40,000 10%, 1-year note payable in exchange. Assuming 10% approximates t
drek231 [11]

Answer:

b. $2,000

Explanation:

The computation of the interest amount is shown below:

= Sale value of goods × rate of interest × (number of months ÷ total number of months in a year)

= $40,000 × 10% × (6 months ÷ 12 months)

= $2,000

The 6 months is calculated from June 30 to December 31.

So, the b option is correct and rest options are wrong.

6 0
3 years ago
Identify the internal control weakness in the following situations. State how the person can hurt the company.
Degger [83]

Answer:

Identification of the Internal Control Weaknesses:

A.  There is no segregation of duties and there is lack of access control.  Jerry Miller as a security guard is not expected to have a master key to the cash box.  With this he can pilfer the cash.  If he prepares the report that shows the number of cars that parked on the lot, he is not supposed to also prepare the day's cash receipts.  Otherwise, he can state any number of cars as parked that he likes, and which corresponds to the cash he might leave in the Cash box since he also has a master key.

B.  There is no segregation of duties and there is lack of supervision,  proper reconciliations, and assets audit.  Sharon Fisher handles purchase transactions from the beginning to the close all alone with a third party.  This exposes the company to procurement frauds and collusion with suppliers.  She can purchase assets for the company at prices that would enrich her personally.

C. Forming an audit opinion on the basis of ratio analysis of last year's comparative financial statements exposes the company to audit risks.  While ratio analysis is part of the basis for forming audit opinions, it is surely not the first audit procedure to obtain audit evidence to support his audit opinion on the financial statements.  An auditor is expected to obtain sufficient audit evidence and perform audit substantive tests of financial statement assertions.  He or she is also expected to review the internal control system to ensure that it is operating effectively after establishing its existence and reviewing changes in internal controls.

Explanation:

Internal Controls are controls established by management in order to help it achieve business goals.  There are many internal controls, including Separation of Duties, Access Controls , Authorization and Approvals, Asset Audits, Reconciliations, and Data Backups.  The purposes of internal controls are to establish the reliability of financial reporting, ensure timely feedback on the achievement of operational or strategic goals, and achieve compliance with financial management laws, and accounting regulations.

4 0
3 years ago
Have led to drastic changes in the ability to gather, analyze, and access
kakasveta [241]

Answer: advanced in technology :)

Explanation:

6 0
2 years ago
Read 2 more answers
A company is considering building a new factory, which department is most likely going to be in charge of evaluating options to
mamaluj [8]

Answer:

Explanation:

Sunk, or past, costs are monies already spent or money that is already contracted to be spent. A decision on whether or not a new endeavor is started will have no effect on this cash flow, so sunk costs cannot be relevant.

For example, money that has been spent on market research for a new product or planning a new factory is already spent and isn’t coming back to the company, irrespective of whether the product is approved for manufacture or the factory is built.

Committed costs are costs that would be incurred in the future but they cannot be avoided because the company has already committed to them through another decision which has been made.

5 0
3 years ago
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