Answer:
C) Goods-producing firms focus on the flow of people, information, and services.
Explanation:
Goods-producing firms not necessarily needs to focus on the flow of people, information, and services, what is true is that firms use physical inventory because it's necessary to have available products to sale.
The facilities must be located close to raw material, suppliers, and labores if not the company will see the cost of sale increased by logistic costs.
Also it's important to have employees with strong technical and production skills so the company can get well products at the production line.
If you are looking for the adjusting entry at the end of the year, it would be:
Office Supplies Expense 5000 Office Supplies 5000
The amount to be recorded is 5000 because:
Beginning supplies is $240
Then there is an additional supplies $5,200
So there is a total of 5,440 supplies.
But the ending inventory is $440.
Deduct the $440 from the $5440 which will give us $5,000. This is to make sure that the amount in the journal entry at the end of the year will be same with the physical count of the supplies.
Answer:
C
Explanation:
According to the Consider This box about hypothetical countries Slogo, Sumgo, and Speedo, small differences in economic growth rates make for large differences in real GDP per capita over several decades, assuming the same growth of population for each country.
For small countries ( less population and same growth of population over the years) even small growth rates makes a large change in real GDP per capita over the years.
Answer: All of the other answer choices are true.
Explanation:
FIFO simply refers to “First-In, First-Out” and the method assumes that the oldest goods that are in the inventory of a company have been sold first and therefore, the costs that are paid for them will be used for the calculation.
The following are true regarding the FIFO method:
• FIFO under a perpetual inventory system results in the same cost of goods sold as FIFO under a periodic inventory system.
• A company can choose to account for the flow of inventory using the FIFO method even if this doesn’t match the actual flow of its inventory.
• Perishable goods often follow an actual physical flow that is consistent with the FIFO method assumptions.
Therefore, the correct option is D as all are true.
One-Product<span> Companies. i belive
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