Answer: bounded rationality
Explanation: Proposed by Herbert A. Simon, _____bounded rationality_____ means that managers are limited in the extent to which they can use the classical model of decision making, because they only have so much time and ability to process information.
In order words, Simon maintained that individuals do not seek to maximise their benefit from a particular course of action. This is because one cannot take in and process all the information that would be needed to maximize personal benefits, and that even if this was tenable, our minds would not be capable of processing it properly. In summary, the human mind necessarily restricts itself—bounded rationality.
Answer:
False.
Explanation:
Financial statements are a representation of the financial position of a business entity at any given point in time.
The statements of cash receipts and disbursements meets the GAAP requirements of accrual accounting because this is the basis for which other financial statements are formed. For example if we receive a product from a vendor and issue an invoice to him. The invoice represents an unpaid accrual (account payable) and will go into other financial statements as a liability against the business.
So the statement above is false.
Answer:
–$12,500
Explanation:
Calculation to determine Determine the profit or loss per contract
Using this formula
Profit or loss per contract=Purchase price-Selling price
Let plug in the formula
Profit or loss per contract= $935,000 – $947,500
Profit or loss per contract= –$12,500
Therefore the profit or loss per contract will be –$12,500
Answer:
10.71 %
Explanation:
The percentage change formula:
