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3 years ago

What term refers to the knowledge, education, training, skills, and expertise of a firm's workers?

1 answer:

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<span>Human capital is the term that refers to the knowledge, education, training, skills, and expertise of a firm's workers.
</span>Gary Becker, an economist from the University of Chicago has popularized this term. <span> The human capital includes assets of individuals that can be used to create economic value for the individuals, their employers, or their community: </span>

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Livewire company and mccoy's candy, inc., sign a document that states livewire agrees to design a web page for mccoy's, which ag

MariettaO [177]

This is known as a service agreement. A service agreement is used by companies who want to have a transaction with service providers in order to avail of their services. This is to ensure that both of the parties involved agree on each other terms and that there will be no confusion or conflict.

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3 years ago

Substitution and income effects of a change in price of a good may be used to explain the:

kodGreya [7K]

Answer: Option A

Explanation: In simple words, substitution effect refers to the economic phenomenon which states that when price of one good rises the demand for the alternative of that particular good also rises. For example - coke and pepsi.

On the other hand, income effect states that when the price of a commodity rises, a number of consumers might find it hard to purchase due to the price exceeding their income power which further results in lower demand.

Hence from the above we can conclude that the correct option is A.

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3 years ago

Margaret and Jack are working on a high-priority project with a tight deadline. When Margaret is unable to meet the deadline, Ja

matrenka [14]

Answer:

B, Fundamental attribution error.

Explanation:

Fundamental attribution error is a psychological situation in which individuals have the tendency to explain a person's behavior based on disposition/personality but not lay emphasis on the external behaviors that affect the person's behavior.

In the above question, because Jack and Margaret couldn't finish Margaret's jobs due to Margarette her clumsiness and went on to blame the supervisor as the cause of the tem not being able to finish the task .

Cheers.

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3 years ago

Mitch is a director and officer of Numero Uno, Inc. Mitch makes a marketing decision that results in a dramatic decrease in prof

Stells [14]

Answer:

As long as Mitch acted in good faith and tried to make the best possible decision regarding all available information, and his decision was something that any other person could have made, his mistake has to be considered a bad or negative business judgement (business judgement rule). He thought that his actions would benefit the corporation, but he was wrong and the corporation lost money. That types of mistakes are considered normal and just that, mistakes that anyone can make.

In regards with the second issue, that Mitch is a shareholder and a director of a firm that will directly compete with Numero Uno, he must inform the board about this and resign to either Numero Uno or One of a Kind.

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3 years ago

The cash account for American Medical Co. at April 30 indicated a balance of $334,985. The bank statement indicated a balance of

Bas_tet [7]

Answer:

1. Cash balance according to bank statement $370,000

Cash balance according to company’s records $370,000

2. a. April 30

Dr Cash $42,000

Cr Notes Receivable $40,000

Cr Interest Income / Interest Revenue $2,000

b. April 30

Dr Accounts Payable - Targhee Supply Co $6,840

Dr Miscellaneous Expenses [Bank service charge] $145

Cr Cash $6,985

3. $370,000

Explanation:

1. Preparation of a bank reconciliation

AMERICAN MEDICAL COMPANY

Bank Reconciliation

April 30

Cash balance according to bank statement $388,600

Add: Deposit of April 30, Not recorded by bank $42,500

Add: Bank Error in Charging check as $420 instead of $240 [$420 - $240] $180

Deduct: Outstanding Checks $61,280

Adjusted balance $370,000

Cash balance according to company’s records $334,985

Add: Note and Interest Collected by bank $42,000

Deduct: Error in Recording Check [$7,600 - $760] $6,840

Deduct: Bank Service Charges $145

Adjusted balance $370,000

2. Preparation of Journal entries.

Journal entries

a. April 30

Dr Cash $42,000

Cr Notes Receivable $40,000

Cr Interest Income / Interest Revenue $2,000

b. April 30

Dr Accounts Payable - Targhee Supply Co [$7,600 - $760] $6,840

Dr Miscellaneous Expenses [Bank service charge] $145

Cr Cash $6,985

($6,840+$145)

3. Based on the information given If a balance sheet is prepared for American Medical Co. on April 30, the amount that should be reported as cash will be $370,000

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2 years ago