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3 years ago

B) Answer the following questions.

Business

1 answer:

lana [24]3 years ago

6 0

Answer:

Yes, agree, business transactions are economic transactions. Two reasons why:

Profit motive: economic transactions have a profit motive: they are carried out and agreed upon between the two parties, because the parties feel that they will be better off after the transaction is completed. Business transactions are based on the profit motive.
Things of value: goods and/or services, are exchanged between the parties. In business transactions, either a good (for example, an asset), or a service (for example, employees), is always exchanged.

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When a principal is unidentified Group of answer choices the agent and principal will be jointly and severally liable on the con

Alja [10]

Answer:

The correct answer is letter "A": the agent and principal will be jointly and severally liable on the contract.

Explanation:

Principal-agent relationships born because of the need for principals of contracting agents acting on their behalf. While interacting with third parties, the principal can take one of the three (3) following roles: fully disclosed principal, unidentified principal, and undisclosed principal.

An unidentified principal, also called jointly and severally liable principal, is unknown by third parties. The third party knows the agent represents another party but the identity of that other party is a mystery.

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3 years ago

A company making tires for bikes is concerned about the exact width of its cyclocross tires. The company has a lower specificati

ANEK [815]

Answer:

the process capability index for the process is 0.4761

Explanation:

The computation of the process capability index for the process is shown below:

= minimum of [(23.3-23.1) ÷ (3 × 0.14),(23.1 - 22.8) ÷ (3 × 0.14)]

= minimum of (0.4761, 0.7142)

= 0.4761

Hence, the process capability index for the process is 0.4761

The same should be considered and relevant

4 0

3 years ago

A car dealership spends $140,000 on cars to stock their lot. After a day of sales, they earn a total revenue of $300,000. What i

r-ruslan [8.4K]

Answer:

$160,000

Explanation:

Calculation of the car dealership's profit

Using this formula

Profit= Total revenue- Amount Spend

Where,

Total revenue=$300,000

Amount Spend=$140,000

Let plug in the formula

Profit =300,000-140,000

Profit =160,000

Therefore the car dealership's profit will be $160,000

5 0

3 years ago

In the short run, if average variable cost equals $50, average total cost equals $75, and output equals 100, the total fixed cos

musickatia [10]

Answer: $2500

Explanation:

From the question,

Average variable cost(AVC) = $50

Average total cost (ATC) = $75

Output (Q) = 100

Since Average fixed cost is the difference between the average total cost and the average Variable cost. This will be:

AFC = ATC - AVC

AFC = $75 - $50

AFC = $25

We should note that:

AFC = TFC / Q

TFC = AFC × Q

TFC = $25 × 100

TFC = $2500

Therefore, total fixed cost is $2500

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3 years ago

Required information

ArbitrLikvidat [17]

Answer:

book value = $13,200 (purchase price) + $4,200 (paint) + $2,300 (accessories) = $19,700

useful life 5 years, salvage value $5,100

assuming the company uses straight line depreciation:

depreciation per year = ($19,700 - $5,100) / 5 years = $2,920 per year

the journal entries to record the purchase of the vehicle and the improvements are:

July 1, 2022, vehicle is purchased

Dr Suburban SUV 13,200

Cr Cash 13,200

July 1, 2022, vehicle's paint and accessories

Dr Suburban SUV 6,500

Cr Cash 6,500

the journal entry to record depreciation expense ($2,920 x 6 months)

December 31, 2022, depreciation expense

Dr Depreciation expense 1,460

Cr Accumulated depreciation - Suburban SUV 1,460

the journal entry to record insurance expense ($2,100 x 6 months)

December 31, 2022, insurance expense

Dr Insurance expense 1,050

Cr Prepaid insurance 1,050

5 0

3 years ago