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mrs_skeptik [129]
3 years ago
11

The following items were among those reported on Lee Co.'s Income Statement for the year ended December 31, 20x5:

Business
1 answer:
coldgirl [10]3 years ago
4 0

Answer:

C.  $410,000

Explanation:

Administrative and general expenses in Lee's multiple - step income statement is $410,000

i.e  the Legal and audit fees $170,000 and Rent for office space $240,000 which will amount to $410,000

Note:   General and Administrative expenses are incurred in the day-to-day operations of a business and are not  tied to a specific function or department within the  organisation.

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As the accountant for Marston Retail Stores, you must calculate the current ratio for the firm's last accounting period. The fir
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Answer:

1.5

Explanation:

Current ratio = current asset/current liabilities

This ratio is used to determine how quickly the current assets can be used to settle the current liabilities as they fall due.

current assets = $120,000

current liabilities = $80,000

The firm's current ratio = $120,000/$80,000

                                      = 1.5

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2 years ago
A resource-based strategy Multiple choice question. focuses on efficient execution of both primary and supporting components of
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Answer:

can be achieved by exploiting resources that are competitively valuable, rare, and hard to imitate by rivals

Explanation:

A resource-based strategy is a form of the technique used by business managers to efficiently utilized the existing and valuable resources of the firm. These resources would be difficult to come by for the competitors such that it is hard for competitors to replicate. Thereby leading a sustainable or long term competitive advantage to the firm

Hence, in this case, the correct answer is A resource-based strategy "can be achieved by exploiting resources that are competitively valuable, rare, and hard to imitate by rivals."

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2 years ago
On December 1, 20X4, Line Corp. received a donation of 2,000 shares of its $5 par value common stock from a stockholder. On that
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Answer:

$0

Explanation:

The shares that are donated is treated as the treasury shares. The treasury stock and the gain or the revneue account rise the stock market value. If there is an increase in the treasury stock so it reduced the stockholder equity but on the other hand the gain or revenue increase the owner equity

So overall there is no net effect

hence, the amount should be $0

7 0
3 years ago
Which of the following would produce the largest increase in the contribution margin per unit? A 14% increase in variable cost.
Rama09 [41]

Answer:

A 7% increase in selling price.

Explanation:

Contribution margin refers to the difference between selling price and variable cost.

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= Selling price - Variable cost

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It cannot, because it will decrease the contribution margin.

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It cannot affect the contribution margin.

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No, it will reduce the contribution margin.

(iv) 7% increase in selling price:

Yes, it will increase the contribution margin since there is an increase in the selling price.

(v) 23% increase in the number of units sold:

No, it will not impact the selling price or variable cost.

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3 years ago
When Smartsheet, a producer of software, delayed the introduction of its new app to modify the package, its scheduled TV adverti
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1 year ago
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