Answer:
The correct answer here is A) marketing plan.
Explanation:
A marketing plan (which can also said to be a part of overall business plan) is a blueprint for the company , which outlines all the actions and strategy and efforts that are going to be employed to achieve the business objectives and goals. This plan would include taking out current marketing position of company, knowing target market , developing marketing mix that will be employed to achieve goals. As per the question getting technical specifications done of a product and setting the price for that product before that product is revealed for the first time comes under the marketing plan for that product.
Answer: Option B
Explanation: In simple words, current liabilities refers to the obligations and promises that an entity has to pay within a year. These liabilities usually arise due to the need of an organisation to fulfill their short term requirements to operate the business efficiently.
These liabilities are of critical in nature as they directly affects the liquidity of the business. In the given case, sales tax payable is the only obligation that must be fulfilled with a year. Hence it is a current liability.
Answer:
Standard of value.
Explanation:
When money serves as a common denominator for measuring the exchange rates among goods and services, it performs as a standard of value.
Standard of value is an agreed-upon worth for a transaction in a country's medium of exchange, such as the U.S. dollar or Mexican peso. A standard of value allows all merchants and economic entities to set uniform prices for goods and services
Answer:
sales returns & allowance 2,000 debit
accounts receivables 2,000 credit
Inventory 500 debit
COGS 500 credit
-to record the return of goods from Jerry Hines--
Explanation:
As the returned goods are not reported as failure or malfunction just; the customer returned as exceeds his needs, we can return them to goods ready to sale thus; inside inventory account.
We will decrease the account receivable, our COGS and increase our inventory