Answer:
Created by a Professor Michael E. Porter, from Harvard, this model explains the various forces applied to a business.
Competition in the industry
: Are there competitors in the industry? If so, are they numerous and weak or is the industry dominated by a few major players?
Potential of new entrants into the industry
: What's the risk of having new competition? If you are selling a product, can you protect it with a patent for example?
Power of suppliers
: Can the suppliers of what you need easily affect the prices? It's basically asking if there is competition in your suppliers' market.
Power of customers
: That related to your customer base. If your customer base is large, chances are no individual will be able to force your price down. But if you are dealing with a limited number of customers, one of them might force you to lower your prices.
Threat of substitute products: Is there any comparable product/service offered at a lower cost that might bring your prices down?
Ensure reliable accounting. It’s kinda obvious because it’s DUMB!
It is two shoes. Leave a thanks if it benefited you!
Answer:
It is called A PERMANENT FUND.
Explanation: A PERMANENT FUND is a type of governmental fund that is used to record and account for endowments such as gifts for government or non governmental organisations.
This fund often times is used in financing civic projects, facilities owned by the city concerned and the likes.
Answer and Explanation:
According to the scenario, journal entry for the given data are as follows:
Cash A/c Dr. $1,000
Supplies A/c Dr. $3,000
Land A/c Dr. $8,000
Equipment A/c Dr. $5,000
To A/c Payable A/c $4,500
To Notes payable A/c $3,100
To M. Derr capital A/c $9,400 ($1000+$3000+$8000+$5000-$4500-$3100)
(Being Derr's investment is recorded)
