Answer:
can return the bracelet and get her money back
Explanation:
Minors have a restriction on the products that they can. To purchase these products they must have consent of their parent or guardian.
An identity card is required to determine the age of the buyer to avoid wrong sales to minors.
Items prohibited from sale to minors include: alcohol, tobacco, petrol, offensive weapons, intoxicating substances, and expensive jewelry.
So in this scenario since due diligence was not carried out by the store to check Heather's age on purchase, she can return the diamond bracelet and get back her money.
This was an illegal sale.
Answer:
False
Explanation:
Management decisions are based on multiple variables. Here, by variables we mean that internal and external factors. These can be any.
When making management decisions only financial measures are not present, rather measures for human resource, measures for production, measures for customer relations, measures for performance are all related to management decisions.
Now that depends on the kind of decision a management wants to take, it not necessarily relates to financial measures every-time.
Thus, the above stated statement is false.
Answer:
Assets: 180,000
Explanation:
Accounting Equation Formula:
Assets = Liabilities + Owner's Equity
The accounting equation shows which resources the company has for the development of its activities and how they are financed. Assets are those mentioned resources, such as cash, bank accounts, inventory, etc. Those assets can be financed by external or internal sources. Liabilities represent external sources, which means, obligations. Instead, Owner's Equity represents internal sources, which means issuing equity shares. As every resource have to be finance either external or internally, the value of the Asset should match the add of Liabilities and Owner`s Equity.
Answer:
The journal entry should be:
Dr Merchandise Inventory account 50,000
Cr Retained Earnings account 50,000
Explanation:
Since Oscar's merchandise inventory was understated by $50,000 because of the previous inventory method (LIFO), when the new method, FIFO, starts to be used then the merchandise inventory must increase by $50,000 as well as retained earnings.
Merchandise inventory is an asset account and it increases, therefore it should be debited.
Retained earnings is an equity account and it increases, therefore it should be credited.
Answer:
Answering the economic question of What to produce
Explanation:
What to produce is the problem in economics with the companies, who are involved in the producing the goods for the customer, as this problem comprises of selection of the services and goods to be produced and the quantity of the each and every commodity to be produced.
This problem occurs because the economy has limited or restricted resources so could not produce all the goods. Therefore, if the society decides to produce the consumer goods from the resources available, then it is answering the economic question of what to produce.
