Answer:
Free-enterprise; government.
Explanation:
An economy is a function of how money, means of production and resources (raw materials) are carefully used to facilitate the demands and supply of goods and services to meet the unending needs or requirements of the consumers.
Basically, there are four (4) main types of economy and these are;
I. Mixed economy.
II. Command economy.
III. Traditional economy.
IV. Free-enterprise economy.
A free-enterprise system also referred to as capitalism or free market can be defined as a type of economy in which prices, products and services are being determined by the market rather than the government. Thus, a free-enterprise system is devoid (free) of government regulations, interference or control because the market (enterprises) are the ones who are saddled with the responsibility of determining the market forces.
Simply stated, a free-enterprise system is a type of economy that is completely driven by demand and supply of goods and services.
Hence, in a free-enterprise system, supply and demand forces affect the production and consumption decisions. There is little to no government control in such a system.
This question is an opinion so pick which one you think is the most important then explain why. Hope this helps.
Answer:
d. the complexity of the product.
Explanation:
Marketing can be defined as the process of developing promotional techniques and sales strategies by a firm, so as to enhance the availability of goods and services to meet the needs of the end users or consumers through advertising and market research. The pre-service strategies includes identifying the following target market, design, branding, market research. Thus, it comprises of all the activities such as, identifying, anticipating set of medium and processes for creating, promoting, delivering, and exchanging goods and services that has value for customers. It typically, involves understanding customer needs, building and maintaining healthy relationships with them in order to scale up your business.
Personal selling also known as face-to-face selling can be defined as a sales technique or strategy in which the salesperson meets with the potential buyer (customer) for the sole purpose of convincing him or her to buy a product.
For Michael, personal selling works better than other forms of promotion because of the complexity of the product i.e high technicalities associated with the product. The product Michael are highly technical and as such would require guidance or explanation on how to safely use them.
Answer:
The rent expense to be recorded on November 30 will be $15400.
Explanation:
The accrual principle in the accounting states that the revenues and expenses for a period should be matched and recorded in their respective periods. Following the principle, we should record the expenses in the period to which they belong. Thus, the rent that is paid in advance is an asset and it will be expensed out as it is consumed.
The rent of $16800 is paid for the period from January to December.
The rent to be recorded as rent expense on 30 November will be for 11 months from January to November.
Rent expense = 16800 * 11/12 = $15400
Answer:
Equipment can be depreciated and the journal entry would be:
December 31, 202x, depreciation expense
Dr Depreciation expense 5,520
Cr Accumulated depreciation - equipment 5,520
Accumulated depreciation is a contra asset account that decreases the net value of a fixed asset.
On the other hand, land cannot be depreciated. Land must always be reported at its historical cost (purchase price) even if its fair market value increases or decreases over time.
