Answer:
A. the atmosphere, spirit and character that pervades the work climate and the values, business principles, and ethical standards that management preaches and practices
Explanation:
Culture is the normally acceptable social behaviour that is expected from someone in a group. It includes beliefs, knowledge, art, law, capabilities, and habits of the group.
The process by which the culture of a group is imbibed is through learning and socialisation.
The norm of a group is the acceptable way one is expected to behave in the group. Like the way one dresses and language.
A company's culture is expressed in the spirit and character that pervades the work climate and the values, business principles, and ethical standards that management preaches and practices.
Answer:
Profit for holiday month is $4,000
Explanation:
Given:
Average sales in a typical month = $1,600
Fixed cost is $800 per month
Sales in festive month is 300% above average typical month sale. So, sales in festive month is $4,800 (1,600 × 300%). Fixed cost remains same irrespective of number of units sold.
Profit = Sales - Fixed cost
= 4,800 - 800
= $4,000
If profit in a typical month is $800 (1,600 - 800), retail store earns profit of $4,000 in a festive month.
Answer:
A) following an expansionary monetary policy.
Explanation:
Central Bank through the Federal Reserve can influence money supply in the economy. If it causes the money supply to increase while keeping the aggregate demand constant, it is following an expansionary monetary policy. This can occur in various ways like through decreasing interest rates, buying bonds in the open market operations; known as quantitative easing, or by lowering the reserve requirement ratio for banks and other financial institutions.
Answer:
- Dr Bad Debt expense 6,000
- Cr Allowance for Doubtful Accounts account 6,000
Explanation:
The total estimated bad debts are $4,800 (= $80,000 x 6%). So the Allowance for Doubtful Accounts account ending balance should be $4,800. Since this account is a contra asset account, the ending balance should be $4,800 credited.
But currently the account has a $1,200 debit balance (it's like -$1,200), so the adjustment record must be = $4,800 + $1,200 = $6,000
That way the ending balance = $6,000 - $1,200 = $4,800
The journal entries should be:
- Dr Bad Debt expense 6,000
- Cr Allowance for Doubtful Accounts account 6,000
Answer:
$13,000
Explanation:
Calculation for what The ending balance of the Work in Process Inventory account for the Fabricating Department is:
Beginning Balance 10,000
Add Direct Materials 76,000
Add Direct Labor 24,000
Add Factory Overheads 12,000
(50% *24,000)
Less Work Transferred (109,000)
Ending Balance $13,000
Therefore The ending balance of the Work in Process Inventory account for the Fabricating Department is:$13,000
