Answer:
b. cultural relativism
Explanation:
Cultural relativism refers to the ideology that what applies to current situation do not necessarily apply to another situation also.
As in the given instance the Shangrilah Sandals make grease payments in their own country as it is a developing country, but do not practice the same in another country called US as it is a developed country.
As the income of people in that country is high they do not believe in taking or accepting grease payments.
Thus, the correct option is:
b. cultural relativism
Answer:
$7,000
Explanation:
Depreciation: The depreciation is an expense that shows a reduction in the value of the fixed assets due to tear and wear, obsolesce, usage, time period, etc. It is shown on the debit side of the income statement. It is a non-cash item that does not affect the cash balance.
The computation of the depreciation expense for 2017 is shown below:
= (Original cost - residual value) ÷ (useful life)
= ($78,500 - $8,500) ÷ (10 years)
= ($70,000) ÷ (10 years)
= $7,000
In this method, the depreciation is same for all the remaining useful life
Answer:
B) Favourable Variances occur whenever actual prices or actual usage of inputs are greater than standard prices or standard usage.
Explanation:
Variances refer to the difference between actual and standard or budgeted costs. Standard cost is also referred to as budgeted cost. Budgeted costinh can be used by a food nutritionist to determine the food quantity he can cook as well as the ingredient amount which consists of the budgeted costs and the actual cost of preparing the food. Budgeted costchas a major advantage which is its ability to determine the pricing policy even before the product or service is delivered. When favourable or unfavourable variances are mentioned, it refers to the greater of budgeted or actual price or quantity. Favourable goes with a greater actual price or quantity while unfavorable or adverse goes with a greater standard price or quantity.
Answer:
$19,886.396
Explanation:
Given :
Interest rate = 5.1% = 5.1
Principal = $19000
Period = 11 months = (11/12)year
The present value of 19000 in 11 months at 5.1% interest Can be obtained using the relation:
PV = P(1 + r)^n
PV = 19000(1 + 0.051)^(11/12)
PV = 19000(1.051)^(11/12)
PV = 19000 * 1.0466524
PV = 19886.396
Hence, the present value is $19,886.396
