A business is a productive organization—an organization whose purpose is to create goods and services for sale, usually at a profit. Business is also an activity. One entity (e.g., a person, an organization) “does business” with another when it exchanges a good or service for valuable consideration. Business ethics can thus be understood as the study of the ethical dimensions of productive organizations and commercial activities. This includes ethical analyses of the production, distribution, marketing, sale, and consumption of goods and services
Answer:
B) Inflation is everywhere and always a monetary phenomenon.
Explanation:
Henry Thornton developed this theory in 1802. According to the Quantity Theory, In an economy, there is a direct relationship between the quantity of money in the economy and the prices of goods and services. The price levels are directly related to the amount of money in circulation, which is the cause of inflation. Hence the consumer has to pay more for the same amount of commodity.
Answer: consumers acting as brand advocates
Explanation:
A consumer is less likely to act as a brand advocate. An advocate to someone is a person that speaks on behalf of someone or acts as an intermediate between a person he is representing and another. An advocate role is not the job of a consumer.
Answer:
D : $88,800
Explanation:
<u>Cost of goods manufactured :</u>
Direct Material used in production $
21,300
Indirect Material used in production $ 3,700
Direct Labour $
34,100
Direct Labour $ 5,900
Manufacturing overhead <u> $ 16,600 </u>
Total Manufacturing cost $ 75100
Add:Beginning Work in process inventory $7,200
Less: Ending Work in process inventory <u>$ 0 </u>
Cost of Goods Manufactured <u>$88,800</u>
Answer:
b. increase in assets and an increase in liabilities.
Explanation:
The journal entry to record the direct labor cost used is shown below:
Work in process Dr
To wages payable
(Being the direct labor cost used is recorded)
Here the work in process is debited as it increased the assets and credited the wages payable as it also increased the liabilities
