Answer:
the resource-based model.
Explanation:
Resource-based theory can be understood as one that guarantees a strategic and competitive advantage to an organization through its resources that cannot be imitated and replaced. In the case of Alibaba, its valuable resources that guarantee long-term competitive advantages for the company are the company's ability to offer a wide range of products with significant discounts in relation to competitors, facilities for shipping goods worldwide, etc.
Improperly capitalizing a repair and maintenance expense item as a fixed asset will result in an <u>overstatement of profit in the current year and an understatement in future years</u>.
Fixed assets seek advice from long-term tangible assets which can be used inside the operations of an enterprise. They offer long-term monetary advantages, have a useful existence of a couple of yr, and are labeled as assets, plants, and equipment on the balance sheet.
Fixed assets, additionally called lengthy-lived assets or property, plant, and the system is a term utilized in accounting for assets and belongings that can't effortlessly be transformed into cash. Fixed assets are unique from the contemporary property, which includes coins or bank accounts because the latter are liquid property.
Fixed assets are capitalized. It really is due to the fact the advantage of the asset extends past the year of buy, not like different costs, which might be length expenses benefitting handiest the duration incurred. constant assets should be recorded at a price of the acquisition
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Answer: to historical performance or budget
Explanation:
A profit center in a business is a division that is able to make revenues independently and contribute to the revenue of the entire business. In evaluating the performance of a profit center manager, it is best to compare the performance to a budget or their historical performance.
This is because profit centers engage in different businesses and so their revenue making style will be unique. Some profit centers will make more than others because of the goods they produce or the way they produce it. It is therefore best to compare a profit center to an internal measure such as the budget and historical performance.
If the profit center exceeds either of these then they are performing well.
Answer and Explanation:
The journal entries are as follows:
1. Petty cash A/c Dr $150
To Cash A/c $150
(Being the establishment of petty cash is recorded)
2.
Entertainment expenses A/c Dr $70
Postage expense A/c Dr $30
Printing A/c Dr $22
To Petty cash A/c $122
(Being the reimbursement of petty cash fund is recorded)
