Answer:
a. True
Explanation:
The above is true because financial resources are needed to enable a business meet up with its daily activities in terms of funding. Also, physical resources are buildings, machineries and assets in general which are required to carry a business daily operations. The labor resources, which is the most important resources are the workforce that carry out the day to day operations of a business.
Answer:
The answer is: A) The new machinery can be depreciated using the same method or different method than the previously purchased machinery
Explanation:
Their is no rule that requires a business to always use the same depreciation method for the assets they purchase.
The most common depreciation methods include:
- Straight-line.
- Double declining balance.
- Units of production.
- Sum of years digits.
Depending on the asset a business may consider one depreciation method that better suits it, and another depreciation method for their other assets.
Answer:
Source processes
Explanation:
The SCOR model looks at a firm´s supply chain activities in three levels of increasing detail. Level 1 views SCM activities as being structured around five core management processes including <u>Source processes</u> which are processes that procure goods and services to meet planned or actual demand.
Supply chain operations reference (SCOR): It is a strategic planning tool that helps in identifying, improving and communicating supply chain management decisions within the company. It is a continuous improvement process and establishing a benchmark for the industry. It also works to develop a business process for satisfying customer´s demand. SCOR is based on five management process:
- Plan
- Sources.
- Make.
- Deliver.
- Return.
Source process: This process of supply chain management is defined as steps to procure goods and services to meet the requirement for infrastructural arrangements.
Answer:
Journal Entries
Date Account Titles and Explanation Debit Credit
Oct. 1 Cash $34,040
Common Stock $34,040
(To record the cash is invested in the business)
Oct. 2 No Journal Entry $0
Oct. 3 Office Furniture $4,110
Accounts Payable $4,110
(To record the purchase of office furniture on account)
Oct. 6 Accounts Receivable $10,780
Service Revenue $10,780
(To record the services provided but cash is not yet collected)
Oct. 10 Cash $165
Service Revenue $165
(To record the services provided by cash)
Oct. 27 Accounts Payable $690
Cash $690
(To record the payment made on accounts payable
relating to office furniture)
Oct. 30 Salaries Expense $2,740
Cash $2,740
(To record the payment of salaries to the assistant)
Answer: redistribution
Explanation: In simple words, redistribution refers to the process in which something is distributed in way to achieve a specific objective like equality etc.
In other words, it can be seen as transfer of wealth or resources from one section of the society to the other sections. Redistribution is performed by governments of the country and is implemented using tools such as taxes, charity and public services etc.
Hence from the above we can conclude that the given example depcits redistribution.
