The term Social responsibility refers to a business's obligation to
maximize its positive impact and minimize its negative impact on society.
<h3>What is the role of social responsibility in Business?</h3>
- Social responsibility means that businesses, in addition to maximizing shareholder value, must act in a manner benefiting society, not just the bottom line.
- Social responsibility has become increasingly important to investors and consumers who seek investments that not only are profitable but also contribute to the welfare of society and the environment.
- While critics have traditionally argued that the basic nature of business does not consider society as a stakeholder, younger generations are embracing social responsibility and driving change.
<h3>Extra keywords for social responsibility:</h3>
- Social responsibility means that besides maximizing shareholder value, businesses should operate in a way that benefits society.
- Socially responsible companies should adopt policies that promote the well-being of society and the environment while lessening negative impacts on them.
- Companies can act responsibly in many ways, such as by promoting volunteering, making changes that benefit the environment, engaging in ethical labor practices, and engaging in charitable giving.
- Consumers are more actively looking to buy goods and services from socially responsible companies, hence impacting their profitability.
- Critics assert that practicing social responsibility is the opposite of why businesses exist.
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Personal selling is considerably less effective than other forms of promotion in obtaining a sale and gaining a satisfied customer is <u>False</u>
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Personal selling, commonly referred to as face-to-face selling, is a sales technique where a single salesperson tries to persuade a consumer to purchase a product. It is a type of advertising where the salesperson employs their knowledge and talents in an effort to close a deal.
A salesman can use personal selling, a face-to-face selling method, to convince a consumer to purchase a specific product by utilizing his or her interpersonal abilities. The salesperson tries to persuade the consumer that the product will only add value by emphasizing its different qualities. There are two primary routes via which personal selling can be done.
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Answer:
2021 understated by $3,060
2022 overstated by $3,060
Explanation:
<u>June 30, 2021</u>
DEBIT CREDIT
Note receivable $68,000
Sales $68,000
<u>Dec 31, 2021</u> (July 1, 2021 to Dec 31 2021)
DEBIT CREDIT
Interest receivable $3060
Interest Income $3060
Working = 68,000 x 9% x6/12 = $3060
<u>March 31, 2022</u>
DEBIT CREDIT
Cash 72,590
Interest receivable 3,060
Interest income 1,530
Note Receivable 68,000
Working = 68000 x 9% x 3/12 = 1,530
2021 income will be understated by $3,060 if adjusting entry is not prepared and revenue is not recognized
2022 income will be overstated by $3,060
Answer:
the cost of goods sold is $250,000
Explanation:
The computation of the cost of goods sold is given below:
= Opening finished goods inventory + cost of goods manufactured - ending finished goods inventory
= $72,000 + $246,000 - $68,000
= $250,000
Hence, the cost of goods sold is $250,000
Answer:
11.07%
Explanation:
The formula to compute WACC is shown below:
= Weightage of debt × cost of debt × ( 1- tax rate) + (Weightage of common stock) × (cost of common stock)
= (0.25 × 8%) × ( 1 - 34%) + (0.75 × 13%)
= 1.32% + 9.75%
= 11.07%
We simply multiply the weighatge with its capital structure so that the correct weightage cost of capital can come.
