Answer:
Rent Expense (Dr.) $5,000
Cash (Cr.) $5,000
Inventory (Dr.) $35,380
Accounts Payable Martin Co. (Cr.) $35,380
Accounts Receivable Korman Co. (Dr.) $62,000
Sales (Cr.) $62,000
Cost of Goods Sold (Dr.) $48,500
Inventory (Cr.) $48,500
Explanation:
Advertising Expense (Dr.) $21,800
Cash (Cr.) $ 21,800
Cash (Dr.) $62,000
Accounts Receivable Korman Co. (Cr.) $62,000
Customer Refund Payable (Dr.) $31,500
Cash (Cr.) $31,500
Sales Salaries Expense (Dr.) $12,000
Office Salaries Expense (Dr.) $ 38,000
Cash (Cr.) $50,000
Store Supplies Expense (Dr.) $2,200
Cash (Cr.) $2,200
Answer:
<u>Platform products</u>
Explanation:
Platform product refer to those products whose design is used as a basis or serve as a platform in designing subsequent similar products. For example, all electronics work on some similar principles.
For instance, a refrigerator or an air conditioner, both utilize a compressor for cooling.
Consumer electronics are characterized under platform products since electronics include whole family of products which use electricity for working. A music system or a television, both run on electricity and share some common operating principles.
Answer: A mission statement is a concise explanation of the organization's reason for existence. It describes the organization's purpose and its overall intention. The mission statement supports the vision and serves to communicate purpose and direction to employees, customers, vendors and other stakeholders.
Answer:
The correct answer is C
Explanation:
Money is the term which is described as something which serves as exchange medium, store of value and a unit of accounting. It is a exchange medium in the terms, that the person will agree to receive it by making a transaction.
In short, when depositing the money into any financial institution like banks, then this states the store of value function of the money.
Therefore, the one which is not the function of money is that it has the operations in the open market.
Answer:
c. A group of firms with an explicit, formal agreement to fix prices and output shares in a particular market
Explanation:
Cartel is a group of few oligopolistic firms, who collude with each other to increase their joint profits & market domination.
So, they are a group of firms with an explicit, formal agreement to fix prices and output shares in a particular market
Example : OPEC (Organisation of petroleum exporting countries) is a Cartel.