Answer:
Competition
Explanation:
In the capitalistic economy, COMPETITION ensures that a firm will survive only if it serves its customers well by providing products and services that meet their needs.
Hence, Competition is a favorable concept for business because it stimulates the improvement and growth of new and decent commodities in the markets.
To consumers, competition is good because it normally leads to better service and lower the costs or prices of commodities.
True, because you don't everyone good at the same thing. For example, if you want to make a car, you don't want everyone to just know how to build doors.
Answer: Option B
Explanation: In simple words, functional departmentalization refers to the process in which an organisation makes different departments within, for performing different tasks.
For example - all the activities related to procurement of money will be performed by finance department.
The main advantage of doing so is that each department will perform only specific assigned activities and all the employees working in the departments will be those who are experts in the field.
Answer:
The appropriate amount of Bad Debt Expense is $3,345.20.
Explanation:
The appropriate amount of Bad Debt Expense can be calculated as follows:
Bad debt expense = (Percentage of accounts receivable not yet due it will not collect * Accounts receivable not yet due) + (Percentage of receivables up to 30 days past due it will not collect * Amount of receivables up to 30 days past due) + (Parentage of receivables of receivables greater than 30 days past due it will not collect * Amount of receivables greater than 30 days past due) - Allowance for Uncollectible Accounts (credit) ……………………… (1)
Substituting the relevant values into equation (1), we have:
Bad debt expense = (7% * $7,500) + (20% + $2,300) + (46% * $2,000) - $400 = $3,345.20
Therefore, the appropriate amount of Bad Debt Expense is $3,345.20.
Answer:
A
Explanation:
When we talk about franchising then it comes with high cost and fee. Firstly, the franchisee need to fulfill certain requirements like specified space, Dining capacity etc. Then franchisee needs pay franchise fee. So to fulfil the specific requirements to attain the franchise, the cost is high. Franchisor, to maintain the brand name apply certain specific requirements on number of diners, space, type of dishes etc. They all comes with high cost. Also the franchise fee will be high as written in question that its successful fast food chain.
After business starts, the franchisee needs to pay certain amount to franchisor every month in terms of ROYALITY.
So, WHen we talk about franchise it comes with high cost.
