Answer:
The correct word for the blank space is: cross-functional team.
Explanation:
Cross-functional teams are groups of people working for a common objective with different functional experience. Employees from the departments of accounting, marketing, logistics, and human resources could be within the organization. <em>Catering </em>firms fall under this type of category.
A favorable supply shock is a sudden increase in supply that makes the short-run aggregate supply curve (SRAS) shift to the right, average price levels go down and real GDP also shifts to the right. In this case, average price levels go down as shown in the figure below from p1 to p2 SRAS shifts right.
This may make create deflation in an economy and discourage new producers to enter the market, to bring back inflation, the central bank may reduce interest rates and decrease the money supply in the market, and in short, will follow expansionary monetary policy. This will make people demand more and hence as aggregate demand shifts to correct average price levels may again go up. This move will create new jobs in the market as aggregate demand will increase in the short term.
A supply shock is an event that causes unexpected cost increases or production disruptions. This shifts the short-run aggregate supply curve to the left, boosting inflation and lowering real domestic production.
Learn more about supply shock at
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FIFO stands for First In First Out and LIFO stands for Last In First Out.
Answer: LIFO produces more favorable cash flow because LIFO PRODUCES LOWER INCOME TAX EXPENSE.
During inflation, LIFO approach is adopted for tax benefits. With the rise in prices, LIFO produces higher cost of sold amounts of goods.
Answer:
exists when there is an excess quantity of labor supplied.
Explanation:
Involuntary unemployment is the situtation in which the labor actually work and also work at the prescribed wage rate in that time when the job is not getting
It could be arise when there is a lacking of the aggregate demand or total demand also when there is a excess of labor supply
so according to the given situation, the second option is correct
Answer:
Bad debts expenses shall be $ 850
Explanation:
The balance in the bad debts expense account shall be the aggregate of the amounts written off and the estimated uncollectible accounts based on ageing at the year end.
Amount written off during the year $ 650
Estimated uncollectible account provided at year end <u>$ 200</u>
Total Bad Debts expenses $ 850
