Answer: The loan was taken for 265 days.
We arrive at the answer as follows:
First we find the ratio of interest paid to the total loan amount to determine the interest rate:
Interest paid = $1,307
Loan Amount = $45,000
Since the interest rate calculated above is less than the annual interest rate at 4%, we conclude that the loan taken was for a period of less than one year.
We can determine the period for which the loan was taken as follows:
Let 'x' be the time for which the loan was taken.
We need to solve for x in the proportion below
0.04 : 365 :: 0.029044444:x
Solving we get,
Answer: Negative Sales Mix Variance
Explanation:
With regards to the above question, the company has a negative sales mix variance. First and foremost, we should know that the sales mix variance simply has to do with the difference between the actual sales mix and the budgeted sales mix of a company or organization.
From the question, there'll be negative sales mix variance and this will bring about a reduction in the revenue of the company as the budgeted sales will be lesser than actual sales. Therefore, Profit also reduces.
Answer:
The correct answer is: Build-up approach
.
Explanation:
The Build-up approach estimates the sales potential of the company by calculating how much of a product could be purchased in a given period by a potential buyer in a specific geographic region. The calculation is then multiplied by the number of potential customers, adding the sum of all the considered geographic areas.
Answer: exclusive
Explanation: Exclusive distribution refers to the distribution system in which the company allows only some retailers exclusively to distribute their product in a particular geographic region.
In the given case, McDonald's is offering franchise to an existing franchisee of the company. Thus, we can conclude that the above case is an example of exclusive distribution system.
Answer:
Medlock will receive $2,940
Explanation:
Credit terms of 2/10, n/30 means there is a discount of 2% is available on payment of due amount within discount period of 10 days after sale with net credit period of 30 days.
According to given data
Sales = $3,000
As the payment is made within discount period, so discount will be availed
Discount = $3,000 x 2% = $60
Now deduct the discount from due balance to calculate the amount received.
Amount Received = $3,000 - $60 = $2,940
