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blsea [12.9K]
3 years ago
7

14. Explain why a free market and laissez-faire are opposites of socialism. (free market,

Business
1 answer:
shusha [124]3 years ago
7 0

Free market and laissez-faire are opposite for socialism as this type of market is free from the government control.

Explanation:

The free market and laissez-faire  are the type of market in which government has no control. The decision of what t produce, how to produce, how much to produce and other decisions like price are decided by the producers itself only.

This type of market is opposite for socialism as the motive of this market is to profit maximization and not social welfare as it is out of from government control.

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If a court determines that a manager's corporate decision amounted to self-dealing, a. the manager is automatically personally l
telo118 [61]

Answer:

d. the business judgment rule will not apply.

Explanation:

A corporation can be defined as a corporate organization that has facilities and owns or controls assets used for the production of goods and services in at least one country other than its headquarter (home office) located in its home country.

One of the advantage of a corporation is that, owners have limited liability for debt to the extent to which they have invested and as such are not personally liable for some of debt owed by corporation.

A manager can be defined as an individual who is saddled with the responsibility of providing guidance, support, supervision, administrative control, as well as acting as a role model or example to the employees working in an organization by being morally upright.

Generally, managers are typically involved in taking up leadership roles and as such are expected to be build a strong relationship between their employees or subordinates by creating a fair ground for effective communication and sharing of resources and information. Also, they are required to engage their staff members (entire workforce) in the most efficient and effective manner.

In Business management, if a court of competent jurisdiction determines that a manager's corporate decision amounted to self-dealing i.e putting his or her own interests first, the business judgment rule will not apply.

Generally, in order for the business judgement rule to apply, it is expected or required that a manager should act in the best interest of a corporation.

7 0
3 years ago
Pell Corporation manufactures computers. Assume that Pell allocates manufacturing overhead based on machine hours estimated 10,0
Contact [7]

Answer:

exist 139,200

Explanation:

Assume that Pell allocates manufacturing overhead based on machine hours, estimated 10,000 machine hours and exist 87,000 that implies that the standard cost per machine hour = exist 87,000 / 10,000 = 8.7 exist

Therefore the manufacturing overhead costs if Pell actually used 16,000 machine hours will be: 16000 x 8.7 = exist 139,200

8 0
3 years ago
On January 1, MM Co. borrows $340,000 cash from a bank and in return signs an 8% installment note for five annual payments of $8
Fiesta28 [93]

Answer:

Required 1

<u>January 1</u>

Cash $340,000 (debit)

Note Payable $340,000 (credit)

Required 2

$27,200  goes toward interest expense.

Explanation:

<u>Issuance of the Note :</u>

Assets of Cash are increasing, the Liabilities are also increasing.

<u>Payment at December 31 :</u>

The Annual Payment comprises of Capital Repayment and Interest Expense.

Prepare an amortization schedule using the details of the Note highlighted below to separate the Capital Repayment and  Interest Expense Component :

PV = $340,000

PMT = - $85,155

N = 5

i = 8%

P/yr = 1

FV = $0

Note Schedule is attached !

Download pdf
4 0
3 years ago
ABC Hardware store is open for business 350 days a year. Annual demand for a power cutter at this store is 700 units. Replenishm
BlackZzzverrR [31]

Answer:

102.47 and 20

Explanation:

What is economic order quantity?

EOQ or the economic order quantity is the level of inventory which is the most optimal level for reducing inventory costs. It assumes that the supplier will supply as and when required and follows a just in time policy.

Now that we are familiar with the concept, let's recall the formula:

EOQ= SQRT( 2* D *k /h)

D - Annual demand, which is 700

k - Replenishment cost, which is $15

h - holding cost, which is 10% of inventory value = 0.1 × $20 = $2

So, EOQ = SQRT(2 * 700 * 15/2) = 102.47 units

Reorder point  = daily demand * lead time + safety stock = 700/365*5+10=20 Units

7 0
3 years ago
Describe how the following pairs of terms are related to each. use two or three sentences for each pair of terms :
vfiekz [6]
Bro that's the same thing
3 0
3 years ago
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