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Keith_Richards [23]
3 years ago
12

Last winter, your service fraternity volunteered at an elementary school in a lower income neighborhood in your city. You notice

d many of the children did not have hats or mittens to wear in the cold weather. You decided to start a business that will provide hats and mittens to children in need. You quickly realize you will need help in this venture and set out to find a cofounder. Which of the following characteristics and traits would you like to see in a cofounder?
A) Persistent.
B) Economically motivated.
C) Hard working.
D) Creative.
Business
1 answer:
sesenic [268]3 years ago
6 0

Answer:

A) Persistent.

C) Hard-working.

D) Creative.

Explanation:

In the given situation, it is mentioned that an individual wants to start a business that deals in hats and mittens so the needs of the children could be fulfilled. But for that,  we need to find out a cofounder that should be have following traits and characteristics

a. Persistent: The person should be trying his best o achieve it rather than escape from it

b. he should be hardworking so that every child's need could be fulfillled

c. He should be creative or we can say who bring innovative ideas to the firm so that the people get attracted to the company products so that the sale of the firm could rise up

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Portions of the financial statements for Parnell Company are provided below. PARNELL COMPANY Income Statement For the Year Ended
Pepsi [2]

Answer:

Prepare the cash flows from operating activities section as follows :

Cash Flows from Operating Activities

Income before tax                                        172,000

Adjustments of Non- Cash Items :

Gain on sale of building                              ( 12,000)

Depreciation                                                 127,000

Loss on sale of equipment                             11,000

Adjustments of Changes in Working Capital :

Increase in Accounts Receivables            (120,000)

Decrease in Inventory                                  116,000

Decrease in Prepaid insurance                    34,000

Increase in Accounts payable                     105,000

Increase in Salaries Payable                         21,000

Increase in Deferred tax liability                   12,000

Decrease in Bond discount                         (22,000)

Net Cash flow from Operating Activities   444,000

Explanation:

Indirect Method Adjust the Net Income before tax with movements in working capital items and non-cash items included in income statements.

3 0
3 years ago
The purpose of making closing entries is to: Select one: a. Reset the temporary accounts and update retained earnings. b. Enable
Irina18 [472]

Answer:

A. Reset the temporary accounts and update retained earnings.

Explanation:

This is a performed by an organisation in form of transferring data of financial values from temporary accounts and its is been moved to the permanent account. Amidst these, the temporary account is said to balanced in such a way to be zero; because when not done so, the remaining data from the temporary account will be moved to the permanent account.

Process involved in this includes: Closing summaries that belong to income accounts and move to income summary. Also all expense accounts to income summary.

4 0
3 years ago
Which is not a characteristic of a demand curve?
Dominik [7]

Answer: The correct answer is (A) : Positive upward slope.

Explanation: A demand curve is basically a graph like any other with the variables in potted on both the x-axis (left to right) and the y-axis (top to bottom). Understanding the definition of demand would make it easier to understand why the answer is option A and why the demand curve has a negative downward slope.

Demand can be defined as the quantity of a commodity or service that a consumer is willing and able to buy at a given price and at a particular point in time. And the law of demand states that “other factors being held constant, the higher the price of a commodity, the lower the quantity being demanded by the consumer. And the lower the price of a commodity, the higher the quantity being demanded by a consumer.”

This is simply a rational consumer behavior. So if the price of movie tickets were to go up let’s say from $10 to $15 then a consumer who previously could afford to watch 8 movies in a month (that’s $80) would be having second thoughts and so, rather than spend $120 per month on movie tickets, would be more inclined to watch less movies and stay within his/her $80 budget.

Therefore, on the demand curve, as the price of movie tickets moves positively towards the right side (on the x-axis), the quantity demanded would move negatively downwards (on the y-axis). As one variable increases the other one decreases, and vice versa. That explains why the demand curve has a negative downward slope.

8 0
3 years ago
Financial statement data for two years for Townson Company are as follows: Year 2 Year 1 Sales $3,645,000 $4,250,000 Fixed asset
Serga [27]

Answer:

C) Townson's fixed asset turnover ratio has decreased between Year 1 and Year 2.

Explanation:

                      Year 2                               Year 1

Sales           $3,645,000                    $4,250,000

Fixed assets:

Beginning of year 880,000 820,000

End of year 520,000 880,000

fixed asset turnover (FAT) ratio = net sales / average fixed assets

FAT ratio year 1 = $4,250,000 / [($820,000 + $880,000) / 2] = 5

FAT ratio year 2 = $3,645,000 / [($880,000 + $520,000) / 2] = 5.2

Townson's fixed asset turnover ratio increased between year 1 and year 2.

6 0
3 years ago
In order for a person to recognize Nice that are not being met and make a career out of fulfilling unmet needs, that person must
Dmitry_Shevchenko [17]

The correct answer is; Sight and foresight.

Further Explanation:

When a person can recognize that someone's needs aren't being met, they can make a career out of being a caregiver. First, the person must be able to to have foresight and sight into another persons needs and be able fulfill everything that they haven't been getting.

Being a caregiver is a role that needs someone that has compassion and be able to know what is needed before being asked. There are other careers that can be made by having the sight and foresight that others may not have.

Learning to become an entrepreneur and have your own business can be hard to start but with three traits, anyone can do it if they try. The three traits to have are;

  1. motivation
  2. decision making
  3. sight & foresight

Learn more about being an entrepreneur at brainly.com/question/8461972

#LearnwithBrainly

8 0
2 years ago
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