Answer:
The correct answer is (b)
Explanation:
Corporate social responsibility is an important factor that every business must accomplish to maintain goodwill among its customers. In many countries, there are certain rules and regulation to follow. Johnson and Johnson according to the regulations is not meeting its obligations at a legal level. As there are rules and regulation of CSR, so whoever will not follow them, they will be charged on a legal level.
The failure to properly record an adjusting entry to accrue an expense will result in an understatement of expenses and an understatement of liabilities. This is further explained below.
<h3>What are expenses?</h3>
Generally, expenses are simply defined as what it would take or what it would cost to do anything.
In conclusion, Incorrectly recording an accrual adjustment entry will result in a misstatement of both costs and liabilities.
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Answer:
a.Elasticity of demand is p = k/q (an inverse relationship between the price and quantity)
b.My answer in part (a) means that an increase in the price of the item will lead to a decrease in its demand, hence the following applies
1.All prices are critical points of the revenue function.
2.Revenue is increased by lowering the price
Answer:
A commune.
Explanation:
A commune can be understood as a group of people who live together in the same environment and share their duties and responsibilities with one another. They are considered as sharing some mutual interest that helps in the survival of each member of that particular surrounding or environment. Similarly, in China during the 1950s, a group of collective farms, each of which contained more than 30000 people who lived and worked together was regarded as a commune.
Answer: a) The court found that the advertisements were not inherently misleading. However, it did find that regulating the advertisement in question was more extensive than necessary to protect the public interest.
Explanation: An advertisement is a notice or action promoting a product or service and soliciting patronage.
When there is no regulation of an advert, abuse is expected. Protecting the public interest is important as advertisement may be misleading if there are no extensive rules.
In a situation whereby the mechanics advertisement was found not to be inherently misleading, a different verdict may have been given.