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11Alexandr11 [23.1K]
3 years ago
13

A person assumes all risks associated with any activity in which he or she participates.

Business
1 answer:
Eduardwww [97]3 years ago
3 0
It is <u>false </u>that a person assumes all risks associated with any activity in which he or she participates. This is not true because one person cannot bear all these risks, especially if there are multiple people involved. They should all face the risks and the consequences of their actions - it shouldn't be just one person, but also the people who are organizing that activity as well as the other participants.
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Which of the following BEST represents a mission​ statement? A. Our goal is to honor and empower wounded warriors. B. We strive
BabaBlast [244]

Answer:

B. We strive to be the worldwide leader in sharing delicious tastes and creating joyful memories

Explanation:

There are two concepts i.e mission and vision. The mission statement is the statement in which it talks about the company goals and objective that represent the present condition of which market should be targeted, its geographical location, etc

While on the other hand the vision statement refers to position of the company in the future. It is always for the long term as it is always thinking for the future where the company what to be.

Based on the above explanation, the option B is correct as it depicts the mission statement.

4 0
3 years ago
A _____ occurs when a company's management decides to add products to an existing product line in order to compete more broadly
Harman [31]

C. Product line extension.

7 0
3 years ago
Journal Entries (Note Received, Discounted, Dishonored, and Collected)
Sholpan [36]

Answer:

Journal Entries:

Apr. 6 Debit 6% Notes receivable $2,700

Credit Accounts receivable $2,700

To record the receipt of a 120-day, 6% note for accounts receivable balance.

Apr. 26 Debit Cash $2,511

Debit Finance expense $189

Credit 6% Notes receivable $2,700

To record the discounted note at a rate of 7%.

May 3 Debit 7% Notes receivable $1,000

Credit Accounts receivable $1,000

To record the receipt of a 30-day, 7% note in payment for accounts receivable

June 2 Debit Accounts receivable $1,005.83

Credit 7% Notes receivable $1,000

Credit Interest revenue $5.83

To record the 30-day, 7% note is dishonored.

June 5 Debit Cash $1,005.83

Credit Accounts receivable $1,005.83

To record the receipt of cash and interest of 7% on the maturity value.

Explanation:

a) Data and Analysis:

Apr. 6 6% Notes receivable $2,700 Accounts receivable $2,700

Received a 120-day, 6% note

Apr. 26 Cash $2,511 Finance expense $189 6% Notes receivable $2,700 Discounted the note at a rate of 7%.

May 3 7% Notes receivable $1,000 Accounts receivable $1,000

Received a 30-day, 7% note in payment for accounts receivable

June 2 Accounts receivable $1,005.83 7% Notes receivable $1,000 Interest revenue $5.83 ($1,000 * 30/360) 30-day, 7% note is dishonored.

June 5 Cash $1,005.83 Accounts receivable $1,005.83

7% on the maturity value.

5 0
3 years ago
Lansbury Inc. had the following balance sheet at December 31, 2019.
timofeeve [1]

Answer:

See explanation

Explanation:

Requirement A

See the image Below:

Requirement B

                     LANSBURY INC.

                    BALANCE SHEET

             As at December 31, 2020

             Assets

Cash                                                                   $37,000

Accounts receivable                                          $41,600

Investment                                                         $20,400 <em>(Note - 1)</em>

Plant asset                                      $81,000

Less: Accumulated depreciation <u>($11,000)   </u>  

Book value of Plant asset                                 $70,000

<u>Land                                                                   $53,000</u>

Total assets                                                     $222,000

Liabilities and Stockholders' Equity

           Liabilities

Accounts payable        $30,000

<u>Notes payable              $25,000</u>

<em>Total liabilities              $55,000</em>

    Stockholders' Equity

Common Stock           $120,000

<u>Retained earnings      $  47,000   </u>(Note - 2)

<em>Total stockholders' equity = $167,000</em>

Total liabilities & Stockholders' Equity = $222,000

<em>Note - 1:</em>

Sold investment's cost value calculation -

Selling price =           $15,000

<u>Less: Gain on sale = ($3,400)</u>

Cost price = $11,600

Investment during 2019 =             $32,000

<u>Sale of Investment (book value)    $11,600 </u>

Remaining value of Investment = $20,400

<em>Note - 2:</em>

Beginning                              $23,200

Add: Net Income                   $32,000

<u>Less: Dividend                       ($8,200)</u>

Ending retained earnings  = $47,000

Requirement C

1. Cash flow to net income ratio:

It shows how much cash flows from operating activities during the year over a specific net income.

We know, Cash flow to net income ratio = \frac{Cash flow from operating activities}{Net Income}

Cash flow to net income ratio = \frac{19,200}{32,000}

Cash flow to net income ratio = 60%

2. Operating cash flow ratio:

It shows how much cash flows from operating activities during the year from the use of current liabilities.

We know, Operating Cash flow ratio = \frac{Cash flow from operating activities}{Current liabilities}

Operating Cash flow ratio = \frac{19,200}{30,000}

Operating Cash flow ratio = 64%

Note: Here, accounts payable is the only current liabilities as notes payable has a long-term value.

8 0
3 years ago
Focusing a supply chain on ________________ is a modern way of ensuring high-quality inputs and extending an organization’s cont
Vladimir79 [104]

Answer:

The correct answer is letter "D": close, collaborative ties with suppliers.

Explanation:

A Supply Chain is a network of organizations that work in the production and distribution of a good. The network is managed by the manufacturer from gathering the raw materials until a final good is provided to end-consumers. The relationships between<em> suppliers, producers, distributors, retailers, </em>and <em>customers</em> are vital for the sustainability of the firm.  

<em>To ensure the high-quality of the production, most companies aim to establish strong bonds with their suppliers by promoting mutual efforts in an attempt to maximize each others' profits.</em>

3 0
3 years ago
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