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2 years ago

For each of the following pairs of firms, explain which firm would be more likely to engage in advertising.

Business

1 answer:

lions [1.4K]2 years ago

7 0

Answer:

The correct answers are:

a) Family owned restaurant

b) A manufacturer of cars

c) A company that invented a very comfortable razor

Explanation:

First of all, the family who owned a restaurant will be the one that would most likely engaged in advertising due to the fact that they provide a service that has to be known for the people of the community around the place and all the tourists that go that area, meanwhile the other familiy would obviously just sell its products to the better buyer that they could find.

Secondly, the manufacturer of cars would be the one that most likely engaged in advertising due to the fact that they found themselfs in a very competitive and oligopoly market that is the car market and therefore that they highly need to stand out their making them better than the ones from the competitors.

Finally, the company who invented a very comfortable razor would be the one who engaged more in advertising due to the fact that they known they have a better product that the rest of the competitors so they need to take advantage of that and make sure that the consumers know about it and with that they would sell more and therefore invest more in advertising as well.

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Read the following except from a warranty. What time period is this warranty for? "This warranty is given by XYZ motors. The Zoo

ArbitrLikvidat [17]

Answer:

The warranty period is for three years.

Explanation:

A warranty is a promise a buyer receives from the seller that the latter will repair or replace the product should it develop defects within a stated period. Warranties are granted with specific conditions. The universal condition is that the defects in the product are a result of the manufacturing process and not the buyers' misuse. The defect must occur within a stated period.

In the case of XYZ, the stated period is three years. However, the seller has introduced another condition of "or 30,000 miles whichever comes first." For business reasons, and from market experience, the seller expects that XYZ will use the vehicle at an average rate of 10,000 miles per year. At this rate, the warranty will last for three years. Should the buyer use the vehicle at a faster rate than this, the 30,000 miles will be exhausted earlier, which will bring the warranty to an end. If XYZ uses the vehicle at a slower or the expected rate, the warranty will last for three years.

7 0

2 years ago

State and briefly axplain five contribution of scientific management to modern management practices

butalik [34]

Answer:

One of the greatest contributions of scientific management in today's organization is increasing the productivity. Scientific management focuses on the activities performed by the workers in an organization. The importance of this was that scientific management makes the workers or employees efficient

4 0

2 years ago

Lexis Company purchased equipment on January 1, 2012 for $35,500. The estimated useful life of the equipment was 7 years and the

Naddik [55]

Answer:

The depreciation expense for 2015 is $2,000

Explanation:

The computation of the depreciation expense is shown below:

= (Original cost - residual value) ÷ useful life

= ($35,500 - $4,000) ÷ 7 years

= 4,500

The depreciation for three years would be

= 4,500 × 3 years

= $13,500

The remaining amount would be

= $35,500 - $13,500

= $22,000

So, the depreciation expense for 2015 would be

= ($22,000 - $4,000) ÷ 9 years

= 2,000

7 0

2 years ago

Physicians' Hospital has the following balances on December 31, 2021, before any adjustment: Accounts Receivable = $44,000; Allo

ivanzaharov [21]

Answer:

Entry: 1. Dr bad debts expense 5500

Cr Allowance for uncollectible accounts 5500

Explanation:

1.Account receivable = $44000

Allowance for uncollectible accounts(Dec,31 2021) = $1100

44000* 15% = 6600 - 1100 = $5500 Allowance for uncollectible accounts

2. Bad debts expense = (44000* 15%) = 6600

3. Uncollecible accounts = (Open) Allowance for bad debts + Current year Allowance.

= 1100 + 6600 = $7700.

4. 44000 - 7700 = $36300 net account receiable

6 0

2 years ago

Pendleton Company, a merchandising company, is developing its master budget for 2015. The income statement for 2014 is as follow

Amanda [17]

Answer:

<u>Budgeted functional income statement for 2015</u>

Gross sales ($2,000,000 × 1.04 × 1.06) $2,204,800

Less: Estimated uncollectible accounts ($2,204,800 × 2 %) ($44,096)

Net sales $2,160,704

Cost of goods sold (1,100,000 × 1.03) ($1,133,000)

Gross profit $1,027,704

Operating expenses (475,000 × 1.10) ($522,500)

Depreciation ($25,000)

Net income $480,204

Explanation:

Make the adjustments stated on the 2014 Income Statement.

For Operating Expenses, it is wise to first remove the depreciation expense and apply the increment of 10% to reflect Operating Costs for 2015.

Treat Depreciation Expense separately and at the same amount as for 2014, since depreciation is calculated on straight line method.

3 0

3 years ago