Answer: social responsibility of business to customers
Explanation:
social responsibility of business is the voluntary roles which business play in the society
It is the moral obligation that business owes the society, in other words, it refers to the ways in which business enterprises could assist to develop the local communities in which they operate.The business can have responsibilities towards the following
Owners : The business has it as a responsibility to protect the investment of its owners. It has to ensure that a reasonable return is earned on such investment, in addition, efforts must also be geared toward ensuring the growth of the business.
Customers : The business responsibility to their customers include the production and distribution of high quality goods and services advertising correct and not defective goods and services, labelling goods clearly and correctly, offering and explaining credit facilities and adopting after sales services. The business must recognize that the ultimate success or failure of the business rest to a large extent with the customers, The business must ensure that they do not sell to their customers fake product or produce products which may be injurious to the health of their customers.
Employees : The employees are the Labour component of the factors of production, the responsibility of the business to their employees is to pay commensurable salaries and provide satisfying work ,job security and good working conditions for their employees.
Creditors : The creditors are those individuals or organizations whom the business owe money.It is the responsibility of the business to repay these debt as they fall due.It is equally essential for business to cultivate a good culture of debt management.
Government : The business has a responsibility to obey the various government laws guiding business operations. It must also pay its taxes at the right time and contribute to the economic development of the country.
Answer:
APR is 17.16 percent
Explanation:
APR means annual percentage rate and is calculated annually.
APR = 1.43 percent * 12 months = 17.16 percent
Answer:
The effect on the sale of PV1 would be $3,000 and on PV2 it is $1,500
Explanation:
For computing the effect on the ordinary income, we have to do the following adjustment which is shown below:
PV1 = Sale price-adjusted basis
= $8,000 - $5,000
= $3,000
The $3,000 represent the short term capital gain, and it is a short term capital gain because the equipment is sold in less than 1 year
PV2 = Sale price-adjusted basis
= $16,000 - $18,000
= - $2,000
The $ -2,000 represents the long term capital loss , and it is a long term capital loss because the equipment is sold in more than 1 year
So, the effect on the sale of PV1 would be $3,000 and on PV2 it is $1,500 because the deduction is allowed to a maximum of $1,500
Answer:
warranty expense 250,000 debit
waranty liability 250,000 credit
warranty liaiblity 37,500 debit
cash 37,500 credit
Explanation:
The warranty expense will be 5% of sales
5,000,000 x 5% = 250,000
We will create a liability to represent the future expenses and when they occur we decrease the warrant liability.
As we already declare the associate warranty expense based on sale the expenditures o ot generate an expense.
