Answer: Amortization Expense; Patents
Explanation:
The entry to record the amortization of a patent would include a debit to the amortization expense and a credit to the patents.
The journal entry will be:
Debit Amortization expenses XX
Credit Patents XX
Therefore, the correct option is A.
Southwest Airlines offers vacation packages that include airfare, car rental, and lodging. Southwest is using a(n) <u>bundle </u>pricing strategy.
What is bundle pricing ?
A pricing strategy in which managers offer multiple products or services as a single package ("bundle") is called bundle pricing.
Motivation of bundle pricing:
Particularly useful if your customers' demand is highly variable but price discrimination is impractical.
When consumers' price sensitivity of demand varies widely and market conditions make price discrimination difficult
If customers have diverse tastes, it can increase the seller's profit.
It is a method of simulating perfect price discrimination when perfect price discrimination is not possible or when charging multiple prices for the same product is illegal.
Types:
Simple Bundling: When managers offer multiple products or services in a single package so that customers do not have the option of purchasing package components separately
Mixed Bundling: Allows customers to purchase package components as a whole or separately.
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The 3 activities which are part of the function of accounting includes:
- Classifying financial transactions
- interpreting financial transactions
- Recording financial transactions
Accounting (<em>including bookkeeping</em>) refers to the process of recording, preparing, analyzing and interpreting financial information or statements for future purpose.
As regards the options, 3 activities which are part of the function of accounting includes:
- Classifying financial transactions
- interpreting financial transactions
- Recording financial transactions
In conclusion, the process of accounting helps to identifies, records, classifies and communicate the company's economic events to interested users.
Missing word includes <em>"1. prioritizing financial transactions 2. classifying financial transactions 3. planning financial transactions 4. interpreting financial transactions 5. recording financial transactions"</em>
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