Answer:
<u>Administrative delay</u>, <u>restrict trade</u>
Explanation:
An administrative delay refers to a procedural delay which occurs when a foreign product is allowed to be sold in the domestic market. In such a case, a waiting period gets imposed before the expiry of which the foreign exporter cannot enter the domestic market and sell it's products.
This delay is in the form of going through a very time consuming and cumbersome process of availing licenses, permits, sanctions, etc from the government.
Administrative delay acts as a barrier to trade since in a way it discourages the exporters from exporting their products to a foreign market owing to a tedious cumbersome time consuming procedure.
The practice is used by governments to restrict trade.
An agreement between private parties creating mutual obligations enforceable by law. The basic elements required for the agreement to be a legally enforceable contract are: mutual assent, expressed by a valid offer and acceptance; adequate consideration; capacity; and legality.
Answer:
$12,000
Explanation:
The amount of intercompany profit should be eliminated on the consolidated statements workpaper is the written down value of the merchandise minus the cost of the remaining merchandise in S Company's inventory. This can be calculated as follows:
The written down value of the merchandise = $92,000
Cost of the remaining merchandise = $240,000 × (1 ÷ 3) = $80,000
Intercompany profit = $92,000 - $80,000 = $12,000
Therefore, the amount of intercompany profit should be eliminated on the consolidated statements workpaper is $12,000.
Answer:
A) 40
Explanation:
The chart is not very clear, but the information included is:
- it takes four hours to produce one shirt
- it takes two hours to produce one pair of socks
If the total number of labor hours is 80, then the maximum number of socks produced will = 80 hours / 2 hours per pair of socks = 40 pairs of socks
The total number of shirts produced would be 20.
