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1 year ago

How does the free-enterprise system discourage entrepreneurs who waste resources?

1 answer:

6 0

The free-enterprise system discourage entrepreneurs who waste resources because They can't make a profit and are forced out of business.

<h3>What is free-enterprise system?</h3>

Free enterprise can as well be described as the free market or capitalism, which is a economic system that is been driven by supply and demand.

In this Private businesses as well as the consumers control the marketplace , however free-enterprise system discourage entrepreneurs who waste resources because They can't make a profit and are forced out of business.

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The traditional view of american diversity emphasized the concept of assimilation, which for many groups meant?

gregori [183]

The correct answer is true.

Minority communities have been forced to adopt Anglo-American culture and give up their traditions as a result of assimilation.

<h3>In terms of cultural plurality, what is assimilation?</h3>

In anthropology and sociology, assimilation refers to the process through which people or groups with different ethnic ancestries are assimilated into the dominant culture of a community.

<h3>What does assimilating into American society entail?</h3>

Assimilation is a hotly debated idea in which immigrant groups are urged, through social and cultural practices and/or political maneuvers, to embrace the culture, values, and social behaviors of the host country in order to gain full citizenship status.

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7 0

1 year ago

Stine Company uses a job order cost system. On May 1, the company has a balance in Work in Process Inventory of $3,500 and two j

Naddika [18.5K]

Answer:

Stine Company

1. Summary Journal Entries:

Debit Work in Process $10,400

Credit Materials $10,400

To record materials requisitioned for production.

Debit Work in Process $12,500

Credit Direct Labor $12,500

To record direct labor time tickets.

Debit Work in Process $7,500

Credit Manufacturing overhead $7,500

To record manufacturing overhead applied to production.

Debit Finished goods inventory $7,540

Credit Work in Process $7,540

To record the transfer of Job No. 429 to finished goods inventory.

2. Work in Process Inventory Control

Account Titles Debit Credit

Beginning balance $3,500

Direct materials 10,400

Direct labor 12,500

Overhead 7,500

Finished Goods Inventory $7,540

Ending Balance 26,360

Job Sheets Job 429 Job 430 Job 431 Total

Beginning WIP $2,000 $1,500 $3,500

Direct materials 2,500 3,500 $4,400 10,400

Direct labor 1,900 3,000 7,600 12,500

Manufacturing overhead (60%) 1,140 1,800 4,560 7,500

Finished Goods Inventory $7,540 (7,540)

Work in Process $9,800 $16,560 $26,360

Explanation:

a) Data and Computations:

Balance in Work in Process Inventory = $3,500

Job No. 429 $2,000

Job No. 430 $1,500

Job Materials Labor Time

Number Requisition Slips Tickets

429 $2,500 $1,900

430 3,500 3,000

431 4,400 $10,400 7,600 $12,500

General use 800 1,200

Total $11,200 $13,700

Total manufacturing overhead:

Indirect materials $800

Indirect labor $1,200

Total $2,000

5 0

3 years ago

On December 31, 2020, Lemmon Company issued 20,000 shares of its common stock with a fair value of $50 per share for all of the

Phantasy [73]

Answer:

$1,002,000

Explanation:

The costs incurred on the share for share exchange include the fair value per share ,issue costs,direct cost as well as contingent consideration(consideration based on the acquired business performance.

However,the costs eligible to be recorded as investment upon acquisition are the fair value per share and the contingent obligation as shown below:

Fair value (entire shares) $50*20,000=$1,000,000

fair value of potential obligation =$2000

total value of investment $1,002,000

The issue costs and direct should be expensed immediately.

5 0

3 years ago

Terms of trade Suppose that Greece and Germany both produce oil and stained glass. Greece's opportunity cost of producing a pane

Pepsi [2]

Answer:

Greece has a comparative advantage in the production of stained glass.

Germany has a comparative advantage in the production of oil.

Greece can gain from specialization and trade as long as it receives more than 4 barrels of oil.

Germany can gain from trade as long as it receives more than 0.1 pane of stained glass.

Trade price in this situation will be 8 barrels of oil per pane of stained glass and 6 barrels of oil per pane of stained glass.

Explanation:

Greece and Germany both produce oil and stained glass.

Greece's opportunity cost of producing a pane of stained glass

= 4 barrels of oil

Germany's opportunity cost of producing a pane of stained glass

= 10 barrels of oil

Greece has a comparative advantage in the production of stained glass as it has lower opportunity cost.

Greece's opportunity cost of producing a barrel of oil

= $\frac{1}{4}$

= 0.25 pane of stained glass

Germany's opportunity cost of producing a barrel of oil

= $\frac{1}{10}$

= 0.1 pane of stained glass

Germany has a comparative advantage in the production of oil as it has lower opportunity cost.

Greece can gain from specialization and trade as long as it receives more than 4 barrels of oil. Germany can gain from trade as long as it receives more than 0.1 pane of stained glass.

Both the countries will gain from trade if the trade price lies between their opportunity cost. So trade price in this situation will be 8 barrels of oil per pane of stained glass and 6 barrels of oil per pane of stained glass.

4 0

3 years ago

Tom and Sally Jones are preparing to purchase a new car. Tom currently has a Toyota Camry and Sally has a Honda Accord. They now

Julli [10]

Answer:

Demographic, behavioral

Explanation:

Tom and Sally's family life cycle stage is a Demographic segmenting dimension, and the benefit Sally seeks (reliability) is a behavioral segmenting dimension.

4 0

3 years ago