Answer: C. Access the current reality
Explanation:Accessing the current reality of a market or product involves conducting certain benchmark activities in other to access or identify the challenges which may hinder the product or market from reaching the intended height. Current reality assessment is a fundamental step in making a product launch as a good reality assessment will pave the way to making success and generating the company's projected revenue from the product. It is an important aspect of the strategic management process as it projects the popularity of the intended product.
Answer:
C. biased, understating the effectiveness of the diet.
Explanation:
As the company promises the population of America which is too huge, just on the study based on 20 employees of the company itself.
This clearly means that the company is trying to sell the product with false reports as the sample size of study is to small to represent entire American Population.
Further that too the employees could be influenced to get the false results.
As since the employees could be influenced and that the results can be altered accordingly, the report is biased, and is misleading.
Entrepreneurs and other producers accept risks because they hope to earn PROFIT.
Every businesses are set up for the purpose of earning profits. Every venture has its accompanying risks of failure but if everything goes right, then the pay-off will be worth it.
High risks business also have high potential of generating high profit.
Answer:
A) Prepare the revenues section of the income statement.
Lopez Company
Income Statement for the year ended MM DD, YY
Sales Revenue $852,850
-Sales Returns and Allowances $24,030
-Sales Discounts <u> $12,760 </u>
= Net Sales <u>$816,060</u>
B) Prepare separate closing entries for
(1) sales
Dr. Cr.
Sales $852,850
Income Summary $852,850
(2) the contra accounts to sales.
Dr. Cr.
Income Summary $36,736
Sales Returns and Allowances $24,030
Sales Discount $12,706
The necessary journal entries for October month are attached below in the image :
<h3>What do you mean by journal entries?</h3>
All company transactions are documented in journal entries. Generally speaking, a transaction is any financial activity that has an effect on a business.
All the necessary journal entries are attached below:
Learn more about journal entries:
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