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3 years ago

The ___ is a government agency that protects consumers from dangerous or falsely advertised products.

1 answer:

8 0

The Food and Drug Administration (FDA). The FDA ensures the safety and effectiveness of a wide range of consumer products from medicines and cosmetics to food and medical devices.

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Land, a building and equipment are acquired for a lump sum of $1,000,000. The market values of the land, building and equipment

sergij07 [2.7K]

Answer:

The answer is option (b). $250,000

Explanation:

Step 1: Determine total market value

The expression for the total market value is;

Total market value=land value+building value+equipment value

where;

land value=$300,00

building value=$600,000

equipment value=$300,000

replacing;

Total market value=(300,000+600,000+300,000)=$1,200,000

Total market value=$1,200,000

Step 2: Determine fraction of the total market value that is equipment

Equipment fraction=equipment value/total market value

where;

equipment value=$300,000

total market value=$1,200,000

replacing;

Equipment fraction=300,000/1,200,000=0.25

Step 3: Determine cost assigned to the equipment

Cost assigned to the equipment=equipment fraction×lump sum

where;

equipment fraction=0.25

lump sum=$1,000,000

replacing;

Cost assigned to the equipment=(0.25×1,000,000)=250,000

Cost assigned to the equipment=$250,000

3 0

4 years ago

Suzanne is excited about a black friday sale in which big-screen tvs are advertised for only $400. however, when she gets to the

mel-nik [20]

Answer:

Bait and Switch

Explanation:

Bait and switch is a deceptive sales technique that draws customers in with the promise of low prices and then "switches" to say that the promised item is not available. It is actually illegal under <em>some </em>circumstances in the United States.

8 0

3 years ago

On March 1, 2020, the Teal Company received a $45,000 payment for annual magazine subscriptions (the subscriptions run from the

bulgar [2K]

Answer:

The company has incorrectly credited the sales revenue account at the time of the receipt of payment. So, the journal entry to record the transaction is as follows:

Date Particulars Debit Credit

March 1, 20 Sales Revenue A/c $45,000

To Unearned Sales Revenue A/c $45,000

(To record Unearned sales revenue)

5 0

3 years ago

Even though it was extra work for the company to implement, Johan was happy that consumers had asked for a better grade of plast

aliya0001 [1]

It should be noted that the competitive advantage of Johan's company is being affected by Demand conditions.

<h3>What are Demand conditions?</h3>

Demand conditions can be regarded as the size and nature of the customer base for products, and this usually bring about innovation and product improvement.

This is why Johan was happy that consumers had asked for a better grade of plastic for the toys his company produced.

Learn more about Demand conditions at:

brainly.com/question/4804206

7 0

2 years ago

inventory Turnover and Days' Sales in Inventory The following financial statement data for years ending December 31 for Holland

Varvara68 [4.7K]

Answer:

Year 2014 Year 2013

a) Inventory Turnover ratio 3.4 times and 3.1 times

b) Number of days' sales in inventory 107.3 days and 117.7 days

Explanation:

As per the data given in the question,

As we know that

Inventory turnover ratio = Cost of goods sold ÷ Average inventory

where,

Average inventory

= (Beginning inventory + ending inventory) ÷ 2

For Year 20Y4 :

Average inventory = ($359,160 + $516,840 ) ÷2

= $438,000

And, the cost of goods sold is $1,489,200

So,

Inventory Turnover ratio

= $1,489,200 ÷ $438,000

= 3.4 times

For Year 20Y3 :

Average inventory = ($251,120 + $359,160) ÷ 2

= $305,140

And, the cost of goods sold is $945,934

So,

Inventory Turnover ratio

= $945,934 ÷ $305,140

= 3.1 times

Now

Number of days' sales in inventory = Number of days in a year ÷ Inventory Turnover ratio

For 20Y4

= 365 days ÷ 3.4

= 107.3 days

For 20Y3

= 365 days ÷ 3.1

= 117.7 days

Basically we applied the above formulas

4 0

4 years ago