Answer:
The use of the allowance method of accounting for bad debts.
Explanation:
We use the allowance method to match the expected ad debt with the sales or account receivables which generates.
As sales of a givne month can be declared uncollectible after several month using a direct method we are putting the burden of the uncollectible in another accounting period while leaving the one which did that sale untouched.
The allowance makesthe expense in the same time period thus, it follows the recognition principle.
Answer:
B. social and political pressures
Explanation:
The forces that forced Religuard to shut down most of its manufacturing units are social and political pressures. This is simply forces created by social and political events occurring in the geographical location of the units in question. Some examples of these forces are changes in laws, climate change concerns in the population, protests, etc. In this scenario, the forces affecting the company are changes in environmental regulations.
Answer:
The question is incomplete. However, kindly find below the complete version of the question:
Question
Jack and Diane own Enviromax, a monopolistically competitive firm that recycles paper products. (1.)If Enviromax wants to maximize profit, what price would they charge? (2).What is their profit per unit if they are operating at the profit maximizing output?
Answer / Explanation
(1) First before we continue to answer this question, let us define what a monopoly is: This is a kind of market situation where the sole production or manufacturing of a product have been given to a single entity.
The graph attached below will give us a proper understanding and illustration of the answer.
Where: MR in the graph is defined as the additional revenue obtained when producers produce 1 more unit of good and the AR refers to the total revenue divided by the amount of output produced which is essentially the price of one unit of good.
MC refers to the additional cost incurred by producers when they produce 1 more unit of good and is upwards sloping due to increasing opportunity costs of production.
Noting that since the firm is a monopolistic type, the MR curve is lower than the AR curve because if the firm wants to sell an additional unit of output it will have to lower the successive price. This is unlike the case of a firm operating in a PC where it takes the price as given and hence has no ability to set prices. it should also be noted that profit maximizing for all firms (whether PC or non-PC) occurs at MC=MR. This is because if MC>MR this means the additional cost of producing this unit of good > additional revenue obtained from selling this unit of good and is hence not profit maximizing. If MC<MR, this implies that the firm should not stop at producing this unit of good because it will be forgoing the additional net revenue (profit) should it do so. Hence all firms will produce at the point where MC=MR.
(2) Now referring back to the graph, the profit-maximising point where MC intersects MR hence occurs at output Q. The firm will hence produce Q and hence price at P according to the AR (DD) curve.
In the graph below, since AR > AC at the profit maximizing level, this implies that per unit revenue >
per unit costs and the firm makes a supernormal profit (defined as what excess profit above what is needed to keep firms in production which is normal profit) of the shaded area. If the firm was operating in a perfectly competitive market however, then the profit maximizing point would occur at AR =MC (since AR=MR in a PC market) and the firm would be producing at Qpc and Ppc
Answer: lead to a shortage cause quantity demanded exceeds quantity supplied of rental housing.
Explanation: A price ceiling is a government regulated price control that sets the legal maximum price that can be charged for a good. The price ceiling is binding when it is set below the equilibrium price. In this situation, the price ceiling prevents the forces of demand and supply to intersect at the equilibrium price. At the ceiling price, demand for the good is greater than its supply. Thus, an effective price ceiling which is set below the equilibrium price creates a shortage in the market.
Answer:
1. Curiosity. Great entrepreneurs are tasked with identifying new problems, identifying potential niche opportunities, refactoring their existing business processes, and innovating. This necessitates a passion for various fields of study and business cases that are outside of one's comfort zone.
2. Time management. Prioritization, milestone definition, execution, and iteration are all critical. None of this would be possible without the proper project management and time allocation methodologies in place to complete the work.
3. Strategic thinking. Learning to break down a problem to its simplest components and identify growth opportunities. Inventive problem-solving and spotting the low-hanging fruit. Defining an MVP's scope and testing concepts in a short amount of time and on a tight budget.