Okay this question is a little tricky but I think the answer is B because he was one of the authors of the communist manifesto that states that the means of the production (Which is resources and the buildings that make the goods.) is Managed by the government. So that’s why I think it is B have a nice day :D
Answer:
A. control a resource that is essential in the production process.
Explanation:
When the crucial resource is required to make a product, then the restrictions on such resource would not allow, many people to enter in such business.
Also that the resources will be restricted in some or other manner, its price will increase accordingly the cost of producing such article would also increase.
As the cost of production will increase only producers with a high budget and resources in terms of finance will chose it.
Explanation:
The adjusting journal entry to record the given adjustment is shown below:
At the year-end
Insurance expense A/c Dr. A/c $800
To Prepaid Insurance A/c $800
(Being insurance expense is recorded)
The computation is given below:
= Prepayment done for 6 months insurance policy - expired insurance
= $1,200 - $400
= $800
Answer: The correct option is C.
Explanation: From the scenario given above, we can see that Thomas has not shown any intention to replace the expensive team members, the only option in this case would then be to properly utilize their expertise to the advantage of the company.
In order to do this therefore, a SWOT analysis would need to be carried out and utilized in gaining an edge over the competition.
In this case, Thomas would make sure that the expertise of all his team members are brought to bare, the company would analyze the competition to see where it is lacking in customer satisfaction, and then try to gain the upper hand by including features in their product that the competition does not have in theirs.
This strategy will help in achieving a competitive advantage.