Answer:
E.
Explanation:
The information system is very important in business processes because help managers in efficient decision making to achieve the organizational goals.
An organization will be able to survive and thrive in a highly competitive enviroment on the strength of a well desing information system.
Helps in making right decisions at the right time, or just in time. A good information system may be utilized by managers in unusual situations.
It is viewed as a process, it can be integrated to formulate a strategy of action or operation.
Answer:
Service revenue of $ 440
Explanation:
When the customer prepays, the revenue is yet to be earned hence the entries required would be a debit to cash account and a credit to unearned or deferred revenue.
As the service is rendered and revenue is earned, debit the deferred revenue account and credit the revenue account with the amount earned.
Since $660 was collected for 6 training sessions
Revenue from a training session
= 1/6 × $660
= $110
After 4 training sessions, revenue earned and to be recognized in the income statement
= 4 × $110
= $440
Answer:
The accounting cost and the economic cost associated with Joe's computer software business is $75,00 and the $165,000 respectively.
Explanation:
The computation of the accounting cost and the economic cost is shown below:
Accounting cost = Other Expenses + Salary paid to himself
= $35000 + $40,000
= $75,000
Economic cost = Accounting cost + Salary expense + Rent expenses
= $75,000 + $65,000 + $25,000
= $165,000
Answer:
The correct answers are:
1. Actor, writer, musician : entertainment.
2. Dietician, optician : health care.
3. Litigator, paralegal, attorney : legal industry
Explanation:
Industries dedicated to consumer service are those whose product is directed directly to a consumer, and not to a company.
The product they offer is a service, and not a material good.
These industries will have professionals or people specialized in the subject who will be in charge of offering and selling this product.
That is what we see in the examples.
The health industry will offer services dedicated to health, therefore it will have professionals dedicated to this field.
The legal industry will have services dedicated to legal issues such as a lawyer, a litigator, etc.
And the entertainment industry will be dedicated to shows, this is where actors, musicians or writers come in.
Answer:
The correct answer is option (B).
Explanation:
According to the scenario, the given data are as follows:
Total cost = $8,600
Total units = 400 Units
Direct labor hour per unit = 5
Variable cost = $1.50
So, we can calculate the fixed cost by using following formula:
Fixed cost = Total cost - Total Direct labor cost
Where, Total direct labor cost = $1.50 × 5 × 400 = $3,000
By putting the value in the formula, we get
Fixed cost = $8,600 - $3,000
= $5,600
