Answer:
The correct answer is D. demand and the nature of the market.
Explanation:
External factors: Nature of the market and demand
The price-demand relationship varies in different market classes, and how the way the buyer perceives the price affects the pricing decision. 4 types of markets
.
- If there is pure competition: merchants in these markets do not devote much time to marketing strategy. There is no charge for the products. It is standardized.
- In monopolistic competition: it is within a price range, it can vary by quality, or the services that accompany it.
- In oligopolistic competition: they can be uniform products or not, they are constantly watched over the competition. If prices rise, buyers will quickly change them as a supplier. There are few vendors and it costs others to enter.
- In a pure monopoly: a market formed by a single supplier, unregulated monopolies have the freedom to set their prices, however they do not take advantage of them for several reasons, not to attract competition, fear of regulation and to penetrate the market.
- Demand curve: curve that shows the number of units that the market will buy in a specific period at the different prices that could be charged.
- Price elasticity: Measurement of the sensitivity of demand between changes in the price. It is obtained with the following formula: Elasticity of demand with respect to price = percentage of change in the amount of demand Percentage of change in price
Explanation:
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Answer:
Higher Creativity in Decision Making due to diversity and understanding of the environment in which it operates.
Explanation:
The reason is that the diversity brings access to great pool of hidden resources which we can utilize in a number of ways. People are observer and can play a vital role in the designing of strategic stance of the company. This strategy will influence company's financial position in future. So diversity helps in understanding of environment (environmental analysis) and informed decision making.
Answer:
<em>Warranty expense should be recorded in the period when the warranty service is performed.</em>
Explanation:
When the product is sold, a product guarantee liability and warranty cost should be reported if it is possible that consumers may make claims under the warranty and the amount can be calculated.
Those two provisions are part of the Financial Accounting Standards Statement No. 5 of the FASB, Accounting for Contingencies.
Answer:
Balance sheet is the correct answer because it tells about the worth of company, its assets, shareholders funds (Equity) and amount borrowed by the company (Liability). Balance sheet is also known as Statement of Financial Position (SOFP)
All the other options tells about the earnings and costs of the company not about the assets and liabilities of the company.
