Answer:
C. efficiency and equality.
Explanation:
A typical society that strives to get the most it can from its scarce resources and at the same time, the society attempts to distribute the benefits of those resources to the members of the society in a fair manner; faces a trade-off between efficiency and equality.
Efficiency is the bid to avoid any kind of waste of resources, time, energy, efforts, money, or indeed any resource. Put simply it is getting the best out of a resource. While equality on the other hand is the distribution of resources or benefits to all parties in an equitable or fair manner.
Hence, it is obvious that the given scenario borders on efficiency and equality.
Answer:
a. Contribution Margin = $21,200
Explanation:
Contribution margin = Sales Value - Variable Expenses
Here it is provided that
Sales for Jones = $40,000
Less: Variable Expenses
Cost of goods sols = ($4,800)
Variable Promotion costs = ($8,000)
Variable Sales Commission = ($6,000)
Net Variable Expenses = ($18,800)
Contribution Margin = $40,000 - $18,800 = $21,200
Answer:
Strategic level
Explanation:
Bill is at the strategic level of the organisational pyramid. He is responsible for allocating the resource of the organisation and taking decisions on behalf of the owners. Bill is at the strategic level because he is also required to make a strategic decision and goals for the company. The strategic level of management is one of the important parts of any organisation, as the strategic performance of the company relies heavily on strategic management.
Answer and Explanation:
The journal entry required to close the expense account is given below:
Income summary Dr $33,520
To Wages Expense $19,000
To Depreciation Expense $1,800
To Utilities Expense $320
To Insurance Expense $700
To Maintenance Expense $9,000
To Income Tax Expense $2,700
(being the expenses accounts are closed)