Answer: Option C
Explanation: As per the subject matter of behavioral economics, endowment effect refers top the phenomenon under which it is assumed that a rational individual will retain a commodity he or she already owns rather than acquiring the same commodity if he do not own it.
Hence from the above we can conclude that correct option is C as it states that one will not sell a painting even though at a price that the holder would pay to purchase it himself.
Checking for quality fall within MANUFACTURING AND PRODUCTION AREA while paying creditor fall within FINANCE AND ACCOUNTING AREA.
There are many functional areas in business, each functional area is responsible for performing specific functions.
Answer:
August 2 Notes Receivable 8000 Dr
Accounts Receivable- Ryan 8000 Cr
October 30 Interest receivable 220 Dr
Interest Revenue 220 Cr
October 31 Cash 8220 Dr
Notes Receivable 8000 Cr
Interest Receivable 220 Cr
Explanation:
When we receive the Note against the Accounts Receivable, we will credit the Accounts Receivable to close the account of Ryan and create a new current asset account of Notes Receivable on August 2.
On October 30, 90 days period of Note is complete so we will record the interest that is receivable for us on this note.
- Interest Receivable = 8000 * 11% * 90/360 = $220
We record this as Interest Receivable as we have not received this and credit Interest revenue as it is our income.
On 31 October, when we receive cash it will be total of Notes payable and Interest so we will debit cash by 8220 and credit the Notes payable and interest receivable.
Answer:
C) encounter
Explanation:
The socialization process is the process of learning to be a part of society and individual learning by understanding social norms, values, and expectations of the society to be a productive member of society.
Encounter stage of socialization is the stage at which individuals enter the corporate for the first time and realized how well expectations is matching the reality within the corporate culture. It is the time to control the emotion and learn to be part of organization.
Joining a radical environmentalist group to understand group dynamics and gather data over time is an example of participant observation research strategy.
In order to gather information and comprehend a social phenomenon or problem, a sociologist may use the participant observation approach, sometimes referred to as ethnographic research. The researcher attempts to simultaneously assume the roles of subjective participant and impartial observer during participant observation. The group is occasionally, but not always, aware that the sociologist is observing them.
Gaining a thorough insight and acquaintance with a particular group of people, their values, beliefs, and way of life is the aim of participant observation. The target group is frequently a subculture of a larger society, such as a religious, professional, or niche community group. The researcher frequently resides within the group, integrates themselves into it, and lives as a group member for a prolonged length of time to perform participant observation, giving them access to the private information and activities of the group and its community.
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