In most cases, the business owners are <u>unwilling to take the time</u>. Market research is incredible important when running a business, and by not doing it, you are going into a market that you have no idea about. This can hurt the business in the short-term because they won't know which demographics to serve, how the location they're in contributes to their sales, what products or services are popular, and if there is a lot of competition in their market. All these can have negative impacts on the business and it's why market research is so important!
It can also be because <u>they don't know how to do it</u>. Most business owners don't really know how to research demographics and competition, so they tend not to do it, or hire others who how to do it.
Answer:
Income statement for the year XXXX ended August 31th
Consulting fees earned 27,000
Rent expense 9,550
Salaries expense 5,600
Telephone expense 860
Miscellaneous expenses <u> 520 </u>
Total expenses 16,530
Net income 10,470
Explanation:
To solve for net income we have to subtract revenue for expenses
the expenses will have the word expense in their name,
Is important to notice dividends are not expense as they represent the distribution of earned to the stockholders or owners of the company. It doesnt' represent an expense associate with the outgoing business activities.
Answer:
Explanation:
Data given and notation
represent the sample mean
represent the standard deviation for the sample
sample size
represent the value that we want to test
represent the significance level for the hypothesis test.
t would represent the statistic (variable of interest)
represent the p value for the test (variable of interest)
State the null and alternative hypotheses.
We need to conduct a hypothesis in order to determine if the mean is lower than 5600, the system of hypothesis would be:
Null hypothesis:
Alternative hypothesis:
We don't know the population deviation, so for this case is better apply a t test to compare the actual mean to the reference value, and the statistic is given by:
(1)
t-test: "Is used to compare group means. Is one of the most common tests and is used to determine if the mean is (higher, less or not equal) to an specified value".
Calculate the statistic
We can replace in formula (1) the info given like this:
Answer:
The asset turnover is 1.44 and return on assets is 0.37%
Explanation:
Average Total assets
Assets in the beginning $24,590
Assets at the end $23,300
Average assets $23945
Sales $34,450
Divide: Average assets $23945
Assets turnover ratio 1.44
Net Income $89
Divide: Average assets $23945
Return on assets 0.37%
Therefore, The asset turnover is 1.44 and return on assets is 0.37%
Answer:
correct option is $750
Explanation:
solution
we know here that Net balance of opening accounts receivable is
Net balance of opening accounts receivable = $30000 - $500
Net balance of opening accounts receivable = $29500
and
Credit sales during the year is here $7500
0
and Cash payments received = 74550
so
uncollecectible account expenses = credit sales × % of sale uncollectible
so uncollecectible account expenses = $75000 × 1%
uncollecectible account expenses = $750
so correct option is $750
