Structural.......................................................................................................................................................................................................................................................................................
Answer:
Using the gross profit method, the cost of goods sold would be:
$42,500
Explanation:
Gross margin ratio of the company is 15%. Refer the formula:
Gross margin = Gross profit/Revenue (or net sales)
= (Net sales- Cost of good sold)/Net sales
Using the gross profit method and from the formula,
Cost of good sold = Net sales - Net sales x Gross margin
= Net sales x (1 - Gross margin)
= $50,000 x (1-0.15) = $50,000 x 0.85 = $42,500
Answer:
C) Paying a bribe to a company executive in order to be awarded a contract.
Explanation:
Not only politicians or public officials are corrupt, in order for corruption to exist, there must be some private party willing to give a public servant something in exchange for an illegal favor.
During the past few years a huge corruption scandal was uncovered in Brazil, called the lavajato (car wash in English). The most important result was not only the billions of dollars recovered from public servants and politicians, but the fact that the owners and upper management of virtually all the largest Brazilian corporations were sent to jail as accomplices. It is not common that the richest people in a country are sent to jail.
Answer:
increase total assets by $1,300.
Explanation:
The net effect is shown below
The first entry is
Cost of goods sold Dr $2,300
To Merchandise Inventory $2,300
(Being the cost of inventory is recorded)
Now the second entry is
Account receivable Dr 3,600
To Sales revenue 3,600
(Being the sales is recorded)
Now the net effect is
= 3,600 - 2,300
= 1,300
This 1,300 reflect the increase in the total assets
<u>Answer:</u>Danny is making corrective actions
<u>Explanation:</u>
The last stage of the control process is that the manager has to take corrective actions in case of any deviation from the original production process. The real reason behind the deviation has to be found before the corrective action is taken.
When the assigned targets are not achieved even after installing the new machinery then the managers to access the reason behind it. The reasons might be wrongful strategy or unrealistic objectives. Corrective actions such as revising standards, objectives and strategies can be done.
