Answer:
(E)
Explanation:
Since SwimFit wants to improve the quality of its goggles and other products inorder to achieve better quality than that of its competitor it is termed reverse engineering.
Any reproduction of another manufacturer's product after examination of how it is made is called reverse engineering.
An example of this scenario occurs in real life when a close competitor of a firm invents a new mobile phone with certain features. Within a few weeks the other firm might release their own mobile phone with similar or even better features.
Answer:
B) $4.67
Explanation:
By definition marginal revenue is the revenue generated by the sale of one more unit of product Z.
Marginal revenue = unit price
Since firm X participates in a perfectly competitive market, it is a price taker, and since the marginal revenue is constant, we can assume that this is the equilibrium price of product Z.
Answer:
25%
Explanation:
Calculation for the proportion of Machining activity used by Product 5
Using this formula
Machining activity = Product 5 Machine hours /Total machine hours
Let plug in the formula
Machining activity = 1,100/4,400
Machining activity = 0.25×100
Machining activity = 25%
Therefore the proportion of Machining activity used by Product 5 is 25%
Answer: a.Vacation pay earned by employees
Explanation: Adjusting entries refers to journal entry made to ensure that some financial activity is assigned to the posting period in which the activity occurred. Their main purpose is to match incomes and expenses to appropriate accounting periods. They are made at the end of an accounting period to allocate income and expenditure to the period in which they actually occurred.
Answer:
The answer is: B)The adjustment for prepaid insurance was omitted.
Explanation:
The adjusted trial balance is the last step before producing the financial statements of a company. Its format is identical to unadjusted balances, it has three columns: account names, debits and credits. The debit and credit columns are calculated at the bottom and should always be equal. If they aren’t equal, the trial balance was prepared incorrectly.
The only error that would cause the adjusted trial balance to be unequal (debts ≠ credits) is; The adjustment for prepaid insurance was omitted. Prepaid insurance should be debited and cash (or accounts payable) should be credited.
