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3 years ago

Explain how consumer sovereignty helps drive progress

Business

1 answer:

mars1129 [50]3 years ago

5 0

Answer:

Traditionally, although it was the consumer who purchased and used the goods and services, the sellers and the companies yield a massive power in the market.

However, in modern times where information holds the true power, backed by the new regulations, the consumers now are more informed and aware about the market, it's companies and the products and most of the time they make informed decisions.

Moreover, the purchasing power of the Customer is on the rise too. Giving more decision power, choice and sovereignty to the consumers. This pushes the competition and the sellers to provide better quality goods and services.

Explanation:

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Calistoga Produce estimates bad debt expense at 0.60% of credit sales. The company reported accounts receivable and allowance fo

liraira [26]

Answer: Calistoga's final balance in its allowance for uncollectible accounts at December 31, 2021 is $246.

Explanation: Calistoga Produce applies percentage of credit sales method to estimate its bad debt expense. So 0.60% of $331,000 (credit sales) = $1,986 and the balance in allowance for doubtful accounts is $1,520. The following journals would be recorded to adjust for the estimate:

Debit Bad debt expense $466

Credit Allowance for doubtful accounts $466

The $466 is the difference between $1,986 and $1,520

Now that the company writes off $1,740 accounts receivable, the following journal entries apply:

Debit Allowance for doubtful account $1,740

Credit Accounts receivable $1,740

In summary, the allowance account movement is as follows:

Opening balance $1,520

Additional bad debt expense 466

Write-off during the year (1,740)

Balance, end of the year $246

6 0

3 years ago

What characteristics would you say are true earmarks of an employee who is unprofes- sional in his or her approach to work?

galben [10]

Answer:

Unprofessional employees are below or contrary to the standards expected in a particular profession.

An unprofessional employees.

The Dress of unprofessional employee is not always smart, and he will always blame others for the mistake, he or she doesn't take to correction.

They have bad manners and play pranks and gossip during work period.

They have poor communication skills and he or she may be stealing from the company

All this are unprofessional employee

3 0

3 years ago

In its first month of operations, Giffin Company made three purchases of merchandise in the following sequence: (1) 240 units at

alisha [4.7K]

Answer:

$1,395

Explanation:

Total cost of Inventory purchased

= (No. of units × Per unit price) + (No. of units × Per unit price) + (No. of units × Per unit price)

= (240 × 8) +(340 × 10) +(440 × 11)

= 1,920 + 3,400 + 4,840

= $10,160

Number of units purchased = 240 + 340 + 440

= 1,020

Average cost per unit = total cost /No. of units

= 10,160 /1,020

= $ 9.9608 per unit

Cost of ending inventory = 140 × 9.9608

= $1,395

8 0

3 years ago

For each cost item, indicate whether it would be variable or fixed with respect to the number of units produced and sold; and th

Serhud [2]

Answer:

1. Property taxes, factory - Fixed cost and an indirect manufacturing cost

2. Boxes used for packaging detergent produced by the company - Variable and direct manufacturing cost.

3. Salespersons' commissions - Variable and selling cost.

4. Supervisor's salary, factory - Fixed and Indirect manufacturing cost.

5. Depreciation, executive autos. - Fixed and administrative cost.

6. Wages of workers assembling computers - Variable and direct manufacturing cost.

7. Insurance, finished goods warehouses - Fixed and Selling cost.

8. Lubricants for production equipment. - Variable and indirect manufacturing cost.

9. Advertising costs - Fixed and Selling cost.

10. Microchips used in producing calculators. - Variable and direct manufacturing cost.

11 Shipping costs on merchandise sold - Variable and Selling cost.

12. Magazine subscriptions, factory lunchroom - Fixed and administrative cost.

Explanation:

The cost which is affected by the production of units is known as variable cost. The cost which does not vary with the units produced is fixed cost.

The costs which are related to selling and storage of the finished goods is selling cost.

The cost which is not affected by units produced and is related to office premises and controlling an organization is administrative cost.

The cost which is associated with the production of units and is incurred to convert raw material into finished goods is manufacturing cost.

The manufacturing cost which is directly affected by the units produced is direct cost and the manufacturing cost which is not affected by the units produced is indirect cost .

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4 years ago

Question 7

ANEK [815]

Question 7
The equation of a straight line AB is

(a) Find the gradient of line AB.
(b) Find the y-intercept of line AB.
(c) A second line PQ is parallel to the line AB and passes through a point (2, -8).
Show that the second line PQ also passes through the point(-1,-5)

4 0

4 years ago