If you are offered 2 fish for every 1 coconut by the Island's delegate then you will reject it because it cost more than 2 fish to make one coconut.
<h3>What should you do about the island delegate's offer?</h3>
In order to make one coconut, the number of fish that you give up are:
= 1500 / 500
= 3 fish
The Island's delegate is therefore offering you less fish than what it costs to produce a coconut so you should reject the offer.
First part of question is:
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You are the Minister of Trade for a small island country in the South Pacific with the annual production possibilities curve depicted below on the left. You are negotiating a deal with a neighboring island that has the annual PPC depicted below on the right:
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There are four main types of distribution channels;
1) Manufacturer > Wholesaler > Retailer > Consumer
2) Manufacturer > Wholesaler> Consumer
3) Manufacturer > Retailer > Consumer
4) Manufacturer > Consumer
Therefore the most likely answer here is option C
Producer to Wholesaler to Consumer
Organizations tend to focus on the creation of one type of value but not both because organizations do believe that the social value created by any organization has equal importance as their economic value. Due to this organizations believe that the creation of any value either the social value or economic value is enough.
Social value means the enhancement of the people and their lives by the combination of different resources.
Economic value means the creation of money or value in any economy by the organization.
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Answer:
The answer is
Dr Warranty Expense $3,520
Cr Estimated Warranty Liability $3,520
Explanation:
Warranty expense is a contingent liability and it is defined as liabilities that may be incurred by a firm or business depending on the outcome of an uncertain future circumstance.
Current sales = $176,000
Warranty expense = $3,520(2% of $176,000).
The rule: Debit increases assets and expenses while credit reduces it.
Credit increases equity(stock), sales(revenue) and liabilities while debit reduces it.
Therefore the period entry is
Dr Warranty Expense $3,520
Cr Estimated Warranty Liability $3,520
