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DaniilM [7]
3 years ago
10

Which of the following statements about the experimental method of data collection is true? a. It is the most commonly used meth

od for gathering primary research data b. The method is inexpensive and easy to use c. It is commonly used in the test marketing of new products in isolated geographic areas d. It is useful in obtaining information on consumer interests and opinions e. It is commonly used to gather external secondary data
Business
1 answer:
Tpy6a [65]3 years ago
6 0

Answer: The correct answer is "c. It is commonly used in the test marketing of new products in isolated geographic areas."

Explanation: The statement "It is commonly used in the test marketing of new products in isolated geographic areas." is true about the experimental method of data collection.

The experimental method of data collection is that by which an experiment is performed establishing the appropriate conditions of the place to run the test and thus collect data effectively.

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Travers Manufacturing incurred $106,000 of direct labor and $11,000 of indirect labor. The proper journal entry to record these
olya-2409 [2.1K]

Answer:

$117,000

Explanation:

All costs incurred in manufacturing a product are recorded in the Work in Process Account. The Debit entry on this Account shows the increase in costs and the credit entry shows the transfer of goods to Finished Goods Inventory

So the Work In Process Account must be debited with the Total labor Cost incurred of $117,000 ($106,000 direct labor + $11,000 indirect labor)

Conclusion :

The proper journal entry to record these events would include a debit to Work in Process for $117,000

3 0
3 years ago
Explain the law of one price and the theory of purchasing power parity. Why doesn't purchasing power parity explain all exchange
Masteriza [31]

Answer:

The law of one price establishes that the product or service price will remain the same for all the entire world.

Explanation:

The law of one price establishes that the product or service price will remain the same for all the entire world. It is necessary to take into account for this law that the price of the currency  needs to be also the same and that the price of the product or service would not be affected by other factors such as additional buyers or sellers in the market.

On the other hand the purchasing power parity refers to the idea of an equilibrium of currencies in exchange rates, it means that the power for purchasing will be represented in the same way in the different countries, and it is important to mention that this theory is base in the law of one price.

The  the long run equilibrium is an idea that in theory represents all the equilibrium of prices, quantities, and markets in general; on the other hand, for the short run equilibrium there are some limitations in which the market cannot be explained as properly and fully balanced.

6 0
4 years ago
The Village of Frederick borrowed $1,000,000 from a local bank by issuing 4 percent tax anticipation notes. If the village repai
sertanlavr [38]

Explanation:

The computation is shown below:

It records the two items i.e

Tax Anticipation Notes Payable = $1,000,000

And, the expenditure is recorded for

= Tax Anticipation Notes Payable × tax rate × number of months ÷ total number of months in a year

= $1,000,000 × 4% × 6 months ÷ 12 months

= $20,000

Both the above items are debited for $1,000,000 and $40,000 respectively

3 0
3 years ago
Heller Company offers an unconditional return policy to its customers. During the current period, the company records total sale
Evgen [1.6K]

Answer:

A. $816,000

Explanation:

The formula to compute the net sales is shown below:

= Total sales - sales returned

where,

Sales returned = Total sales × sales return percentage

                        = $850,000 × 4%

                        = $34,000

And, the total sales is $850,000

Now put these values to the above formula  

So, the value would equal to

= $850,000 - $34,000

= $816,000

5 0
3 years ago
A machine with a cost of $65,000 has an estimated residual value of $5,000 and an estimated life of 4 years or 18,000 hours. Wha
forsale [732]

Answer:

The correct answer is C.

Explanation:

Giving the following information:

A machine with a cost of $65,000 has an estimated residual value of $5,000 and an estimated life of 4 years or 18,000 hours.

To calculate the depreciation expense for each year, we need to use the following formula:

Annual depreciation= 2*[(book value)/estimated life (years)]

Year1= [(65,000 - 5,000)/4]*2= $30,000

Year2= [(60,000 - 30,000)/4]*2= $15,000

3 0
4 years ago
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