Answer:
The correct answer is option A.
Explanation:
US imports refer to the goods and services that are produced in some countries other than the US. These goods are then sold in the US. The imports for the US are exports for the country that is producing those goods and services.
While the goods and services that are produced in the US and sold in some other country are exports for the US and imports for the purchasing country.
Answer:
d. Ginger cannot be sued under the theory of product liability.
Explanation:
Ginger sells goods to restaurant, and not to direct customers.
Customers can sue the restaurant owner for selling such baked products to them, and not to the direct manufacturer of such products.
Therefore, Ginger cannot be sued.
Although for any loss, the restaurant owner can sue Ginger, but not the direct customers under any scheme of Product liability. As the liability is of restaurant towards people consuming such baked products.
What distinguishes an outsourcing arrangement from any other business arrangement is the transfer of ownership of an organization’s business activities (processes or functions)-or the responsibility for the business outcomes flowing from these activities-to a service provider. In a typical outsourcing arrangement, the people, the facilities, the equipment and the technology (the Factors of Production) are also transferred to the service provider, which then uses the Factors of Production to provide the services back to the organization. The people are often transferred to the service provider, but this is not always the case.
An outsourcing arrangement can be either “tactical” or “strategic.” An outsourcing is tactical when it is driven by a desire to solve a practical problem. For example, a company may find that its payroll clerk is not able to process payroll changes, cheques, tax returns and make the required accounting entries on time. The company concludes that although the payroll clerk is competent, there is too much work for a single person. The company outsources the payroll process (including the clerk), and ends up with all of the payroll work done on time and at a lower cost. As a result, it achieves a net gain in operational efficiency. Similarly, if an organization outsources its IT infrastructure so it can save five to 10 per cent on the cost of operating that function, the outsourcing is purely tactical.
“Strategic” outsourcing, on the other hand, is not driven by a problem-solving mentality. Instead, it is structured so that it is aligned with the company’s long-term strategies. The changes that organizations expect from strategic outsourcing vary and can include anything from
Answer: b. to adjust for interest earned or fees charged.
Answer:
The Journal entries are as follows:
(i) Manufacturing Overheads Account Dr. $900
To Accumulated Depreciation $300
To Cash account $100
To Utilities payable $500
(To record the expenses incurred)
(ii) Work in process inventory A/c ($1.50 × 450) Dr. $675
To Manufacturing Overhead $675
(To record the allocation of overhead at the predetermined rate of $1.50 per machine hour)
