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Eduardwww [97]
3 years ago
12

Which statements are true about assessing the effectiveness of a strategic plan?

Business
1 answer:
malfutka [58]3 years ago
8 0
The answer is a manager should search diligently for ways the strategy can be improved
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Match each situation below to two applicable reasons that require an adjustment to be made.
defon

<u>Explanation:</u>

<u>1. Revenue has been earned and liability has been fulfilled </u>

The transaction date of the payment is a month before the date for which the tickets are booked. Hence, creating a liability for the company. The payment has been made in advance. But in the present month the liability of the advance payment received is fulfilled. Hence the liability generated last month fulfilled.

<u>2. Revenue has been earned and asset has been acquired </u>

The work performed in regard to the advertising campaign is completed by the company for which the revenue is due from the party for which the work is done. Hence resulting in the increase in revenue and increase in the asset as accrued revenue.

<u>3. Expense has been incurred and liability has been incurred </u>

The payment of an expense is due, resulting in the increase in the expense and creation of a liability. The bill received in the period of the current month for the duration of the current month for which the services has been provided. The mandatory payment is to be done in the coming month.

<u>4. Expense has been incurred and asset has been used up </u>

The benefits of the asset of the company is used up for the payment of the expense resulting in the increase in the expense and decrease in the value of the asset as the benefits added value to the asset once the benefits are used the value of the asset is decreased.

<u>5. Revenue has been earned and asset has been acquired </u>

The company completed the project and the payment for the project is to be received in the next month, resulting in the increase in earned revenue and the creation of the asset accrued revenue. The payment to be received in the coming month hence the accrued revenue account will shoot up with amount of payment to be received.

<u>6. Revenue has been earned and liability has been fulfilled </u>

The company issued gift cards and earned the revenue, but the redemption was done in the next month. Hence, creation of the liability as the advance payment is received but when the redemption is done the liability of the advance payment is discharged.

<u>7. Expense has been incurred and asset has been used up </u>

The benefits of the asset of the company is used up for the payment of the expense resulting in the increase in the expense and decrease in the value of the asset as the benefits added value to the asset once the benefits are used the value of the asset is decreased.

<u>8. Expense has been incurred and liability has been incurred </u>

The payment of an expense is due, resulting in the increase in the expense and creation of a liability. The bill received in the period of the current month for the duration of the current month for which the services has been provided. The mandatory payment is to be done in the coming month. Hence, liability is increased.

4 0
3 years ago
Krumple Inc. produces aluminum cans. Production of 12-ounce cans has a standard unit quantity of 4.4 ounces of aluminum per can.
yarga [219]

Answer:

Instructions are listed below.

Explanation:

Giving the following information:

Production of 12-ounce cans has a standard unit quantity of 4.4 ounces of aluminum per can. During April, 304,000 cans were produced using 1,243,000 ounces of aluminum. The actual cost of aluminum was $0.17 per ounce and the standard price was $0.07 per ounce.

Direct material price variance= (standard price - actual price)*actual quantity

Direct material price variance= ( 0.07 - 0.17)*1,243,000= $124,300 unfavorable

Direct material quantity variance= (standard quantity - actual quantity)*standard price

Direct material quantity variance= (1,337,600 - 1,243,000)*0.07= $6,622 favorable

4 0
3 years ago
The following are all examples of abnormal items disclosed by the company, except: (4 points) A) Goodwill Impairment Charges B)
kari74 [83]

Answer:

Correct Answer:

B) Royalty Expense

Explanation:

<em>A royalty is a payment made by one party, franchisee to another that owns a particular asset, franchisor for the right to ongoing use of that asset. The expenses incurred in executing this payment is called royalty expenses.</em>

7 0
3 years ago
If the price of product x rises, then the resulting decline in the amount purchased will:_____.
MissTica

If the price of product x rises, then the resulting decline in the amount purchased will<u> increase the marginal utility of this good.</u>

The difference in overall utility that results from consuming one extra unit of a good is known as marginal utility. Economists utilize the idea of marginal utility to estimate the quantity of a good that consumers will buy.

When the overall utility is increased by the consumption of an additional item, positive marginal utility occurs. On the other side, negative marginal utility arises when the overall utility is reduced by the consumption of one extra unit. Progressive taxation are frequently defended using the law of diminishing marginal utility.

Negative, zero, or positive marginal utility are all possible.

Hence, option B is the correct answer

To learn more about marginal utility here,

brainly.com/question/15561406

#SPJ4

4 0
2 years ago
Need help with this problem asap!!
dybincka [34]
You can go to history.com


6 0
3 years ago
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