Answer:
It would be unethical and a conflict of interest for Solomon to let his uncle in on the details because it would give his uncle an unfair advantage against the other bidding contractors. It's a form of nepotism
Explanation:
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Answer:
The answer is
Dr Warranty Expense $3,520
Cr Estimated Warranty Liability $3,520
Explanation:
Warranty expense is a contingent liability and it is defined as liabilities that may be incurred by a firm or business depending on the outcome of an uncertain future circumstance.
Current sales = $176,000
Warranty expense = $3,520(2% of $176,000).
The rule: Debit increases assets and expenses while credit reduces it.
Credit increases equity(stock), sales(revenue) and liabilities while debit reduces it.
Therefore the period entry is
Dr Warranty Expense $3,520
Cr Estimated Warranty Liability $3,520
Organizational culture refers to a set of unspoken guidelines that employees share in various work situations.
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Explanation:</u></h3>
The set of expectations that an organisation has towards its employees, the experiences, values to act as a guide to the behaviour of the employees and the experience are encapsulated in the organisation culture. It is the set of guidelines that helps the employees to conduct themselves within and outside the organisation.
It can be considered as a set of values, beliefs and assumptions that shapes the behaviour of the employees of an organisation. It is the one through which the image of an organisation is projected. It helps the employees to work the way the organisation expects from them.
Answer:
C. freely operating economy in which all markets are perfectly competitive.
Explanation:
When we have a lot of producers and many consumers in an economy, the best way to achieve an efficient allocation of resources is to have a freely operating economy in which all markets are perfectly competitive.
- In such a free economy, demand for goods and services are not controlled.
- The consumers behavior towards purchasing will determine if producers should allocate more resources to a production process or not.
- It is better to make such market competitive without interfering into how resources are managed and dispensed.
