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3 years ago

What is the first step of business law

Business

1 answer:

andre [41]3 years ago

5 0

Answer:

Conduct market research

Market research will tell you if there’s an opportunity to turn your idea into a successful business. It’s a way to gather information about potential customers and businesses already operating in your area. Use that information to find a competitive advantage for your business.

Explanation:

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For a recent year, Best Buy reported sales of $42,410 million. Its gross profit was $9,690 million. What was the amount of Best

LiRa [457]

Answer:

The amount of Best Buy's cost of goods sold was $32,720 million

Explanation:

cost of goods sold = sales - gross profit

= $42,410 million - $9,690 million

= $32,720 million

Therefore, The amount of Best Buy's cost of goods sold was $32,720 million

6 0

3 years ago

Monopolists want to protect their market position by – potential competitors. A common tactic is to lobby for –, such as –. Such

mixer [17]

Answer:

restricting the entry; trade restrictions; import tariffs; rent-seeking; monopoly

Explanation:

Monopolists want to maximize their profits by keeping the potential competitors out of the market. For restricting the entry of potential firms they adopt the practice of lobbying for trade restrictions which restrict entry. One such restriction is importing tariff which will reduce competition from foreign products. Such lobbying can be defined as a form of rent-seeking which means using political means to secure monopoly position.

8 0

3 years ago

On October 1, 2021, the Allegheny Corporation purchased equipment for $191,000. The estimated service life of the equipment is 1

irakobra [83]

Answer:

a). Partial-year depreciation for 2021 is $4,675

b). Partial-year depreciation for 2022 is $18,700

Explanation:

The final value of the equipment after 10 years=$4,000

Depreciation=Initial purchase value-residual value after 10 years

where;

Initial purchase value=$191,000

Value after 10 years=residual value=$4,000

Replacing;

Depreciation=(191,000-4,000)=187,000

In 10 years the equipment will have depreciated by $187,000

Average depreciation per year=Depreciation/service life

Average depreciation per year=(187,000/10)=$18,700

Partial-year depreciation for;

2021

Service life is from October-December=3 months service life

Partial-year depreciation=(3/12)×18,700=$4,675

Partial-year depreciation for 2021 is $4,675

2022

Service life is for the whole year=12 months service life

Partial-year depreciation=(12/12)×18,700=$18,700

Partial-year depreciation for 2022 is $18,700

8 0

3 years ago

Which are the most likely uses of capital invested in a business? Check all that apply.

Rashid [163]

I believe the answer is: hiring workers

producing goods

distributing goods

buying materials

Capital investment would most likely be done in order to obtain and increase the amount of income, which is why most of it used would be spend to either advertising, production, and distribution. Paying taxes and repaying investors would be conducted after the income is obtained, not before.

8 0

3 years ago

Read 2 more answers

Rodgers Company gathered the following reconciling information in preparing its May bank reconciliation. Calculate the adjusted

atroni [7]

Answer:

c. $4,055

Explanation:

Adjusted cash balance per books = unadjusted cash balance on 5/31 + note receivable and interest collected by bank - bank charges for check printing - NSF Check

= 3445 + 818 - 43 -165

= $4055

8 0

3 years ago