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Nataly [62]
3 years ago
13

Eric was in the store and started looking at riding lawn mowers. He didn't come to this store for the purpose of purchasing one,

but he started considering it once he was there. However, he did not purchase one on that trip. Instead he went to other stores to look at their mowers, he asked his neighbor and his brother-in-law about their mowers, and he searched the Internet before he decided on the brand to purchase. Which type of decision making did Eric undertake?
Business
1 answer:
Alex_Xolod [135]3 years ago
4 0

Answer:

Extended decision making

Explanation:

Decision making can be described as the process of making a choice between two or more alternatives. It involves analysing various alternatives and then identifying the right action to take.

Extended decision making involves the choices made by customers during the purchase of an unintended/unfamiliar product or a product with a high price. This type of decision making requires a prolonged thought and search effort inorder to arrive at a suitable choice.

Inorder for a brand to have a positive effect on extended decision makers, it is essential that they create a large social media presence where individuals can share their various views on the product.

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Arena Corp. leased equipment from Bolton Corp. and correctly classified the lease as a finance lease. The present value of the m
nadya68 [22]

Answer:

$1,000,000

Explanation:

The Amount to be reported as  lease liability must <em>depict </em>the present value of future cash outflows required to be paid as the entity enjoys its <em>right to use the asset</em>.

Thus, the present value of the minimum lease payments at lease inception was $1,000,000 represents the amount of lease liability.

8 0
3 years ago
Which statement is true about the gross profit method of inventory valuation?
Travka [436]

Answer:

b. It may be used to estimate inventories for interim statements.

Explanation:

As we know that

Gross profit = Sales - the cost of goods sold

By doing the inventory valuation through the gross profit method, it estimated inventories for interim statements as these statements are covering the financial information that is less than a year so that the proper analysis could be made and in this, no auditing is required.  

Therefore, for interim statements, the gross profit method is required.  

 

6 0
3 years ago
On January 1, Greene Inc. issued $5,000,000, 9% bonds for $4,685,000. The market rate of interest for these bonds is 10%. Intere
skad [1K]

Answer:

b.$296,500.

Explanation:

Calculation to determine what Greene should report as unamortized bond discount

First step is to calculate the discount amount

Discount Amount= ($5,000,000 × .09) - ($4,685,000 × .10)

Discount Amount= $18,500

Now let determine the unamortized bond discount

Unamortized bond discount=$315,000 - $18,500 Unamortized bond discount= $296,500

Therefore Greene should report unamortized bond discount of $296,500

5 0
2 years ago
What will happen to the firms equilibrium wage rate when the supply of labour decrease from 25 to 15? Explain with the help of d
Tpy6a [65]

Answer:

Wage rate = $960

Explanation:

Supply of labor is the number of hours workers are willing to work at a given real wage rate. When wage rate increases, supply of labor also increases because more people are encouraged as now they can obtain a higher income. When wage rate decreases, labor supply also decreases.

<em><u>View diagram</u></em>

In this case, however, there has been a decrease in supply, causing the supply curve to shift from S to S1. This can be due to many reasons such as migration, increase in minimum working age or increase in interest in education causing more people to study. When the supply of labor falls, there are less people available for work. Thus, demand exceeds supply, causing a shortage. Hence, the pressure causes price, i.e. wage rate to increase. To determine by how much the increase is, cross-multiplication can be used:

At 25 laborers, wage rate is $600 (25 = 600)

At 15 workers, wage rate is X (15 = X)

We now substitute for X, which is the amount by which wage rate will increase.

25 / 600 = 15 / X

Thus, 25X = 9000 (600 x 15)

9000 / 25 = X

X = 360.

Hence, wage rate at 15 laborers is 600 + 360 = $960

3 0
3 years ago
Jimmer’s nominal income will go up by 10 percent next year. Inflation is expected to be – 2 percent next year. By approximately
kompoz [17]

Answer:

Nominal interest rate (n) = 10% = 0.10

Inflation rate (i) = -2% = -0.02  

Real interest rate (r) = ?  

Application of Fisher's Equation                                                      

(I + n) =   (1 + r)(1 + i)

(1 + 0.10)  = (1 + r)(1 + -0.02)

1.10 = (1 + r)(0.98)

<u>1.10</u> = 1 + r

0.98

1.1224 = 1 + r

1.1224 - 1 = r      

r = 0.1224 = 12.24%

Jimmer's real income will change by 12.24% next year.                                                                                                                                                

                                                                                                                                                                                                                                                                                       

Explanation:

In the determination of the rate of change in real income, there is need          to apply Fisher's equation. The nominal rate and inflation rate have been given, thus, we will make the real rate the subject of the formula.                                                                

3 0
3 years ago
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