All categories

2 years ago

Why was 2007 considered the "Year of the Recall"?

Business

1 answer:

Karolina [17]2 years ago

8 0

Answer:

Most of the recalls were in the toy industry, which alarmed the public

Explanation:

2007 is known as the "year of the recall" because in that year a very high level of recalls were made by manufacturers but most importantly and alarmingly was the toy industry.

Every child, from being a baby to toddlers and preteens usually have one or more toys that they play with. 2007 seemed like the year to not get toys for kids as it became public knowledge that high amounts of lead was used in toy production that year.

Lead for all its usefulness is a poisonous or dangerous substance to the human body talk more of a kid. The revelation of excessive lead content in toys caused a recall of toys by toy companies among other companies.

Also affected were art supplies, jewelries, etc.

Cheers

You might be interested in

Booker Corporation had the following comparative current assets and current liabilities: Dec. 31, 2019 Dec. 31, 2018 Current ass

Y_Kistochka [10]

Answer:

1. 1.5 Times

2.$100,000

3.0.775 Times

4.$75,000

5.$100,000

Explanation:

Liquidity ratios can be found by just simply putting the given values in their appropriate formulas. All you have to memorize is the simple formulas

1.Current Ratio

CURRENT RATIO = CURRENT ASSETS/CURRENT LIABILITIES

CURRENT RATIO = $300,000/$200,000

CURRENT RATIO = 1.5 Times

2. Working Capital

WORKING CAPITAL= CURRENT ASSETS- CURRENT LIABILITIES

WORKING CAPITAL= $300,000 - $200,000

WORKING CAPITAL= $100,000

3. Acid ratio

ACID RATIO = CURRENT ASSETS - INVENTORY - PREPAID EXPENSES/CURRENT LIABILITIES

ACID RATIO = ($300,000 - $110,000 - $35,000)/$200,000

ACID RATIO = 0.775 Times

4. Receivable turnover

RECEIVABLE TURNOVER = CREDIT SALES/AVERAGE RECEIVABLE

RECEIVABLE TURNOVER = $750,000/$75,000

RECEIVABLE TURNOVER = 10 Times

<u>Working</u>

AVERAGE RECEIVABLE = (Opening receivables+Closing receivables)/2

AVERAGE RECEIVABLE = ($55,000 + $95,000) / 2 = $75,000

5. Inventory Turnover

INVENTORY TURNOVER = COST OF GOODS SOLD / AVERAGE INVENTORY

INVENTORY TURNOVER = $400,000 / $100,000

INVENTORY TURNOVER = 4 Times

<u>Working</u>

AVERAGE INVENTORY = (Opening inventories+Closing inventories)/2

AVERAGE INVENTORY = (110,000 + 90,000)/2

AVERAGE INVENTORY = $100,000

3 0

3 years ago

For this question, assume that the Phillips curve equation is represented by the following: πt − πt−1 = (m + z) − αut. Which of

likoan [24]

Answer:

Correct option is C

Explanation:

Increase in \alpha decreases πt - π(t-1) which shows decrease in natural rate of unemployment.

Phillips bend clarifies the connection between expansion rate and joblessness rate. As indicated by it there is a reverse connection between the joblessness rate and swelling rate. It implies there is an exchange off among expansion and joblessness rate.

The strategy ramifications of Phillips bend is that administration can't lessen swelling and joblessness together. It joblessness decreases, at that point the economy must acknowledge higher expansion. Then again, on the off chance that economy lessens expansion, at that point it must acknowledge higher joblessness.

When there is synchronous change in the swelling rate and joblessness rate then this is an instance of development along the short-run Phillips bend.

Then again, when either joblessness rate or swelling rate stays unaltered while different changes then it prompts moving of short-run Phillips bend.

3 0

3 years ago

I WILL GIVE BRAINLEY

KonstantinChe [14]

Answer:

The first one is Business communication skills

The second one is computer skills

The third one is leadership skills

The fourth one is analytical skills

Explanation:

3 0

2 years ago

Q 9.26: Crawford Trucking plans to dispose of two trucks in 2018. They sell the first truck on January 2 and the second truck on

deff fn [24]

Answer:

Crawford Trucking

Calculation of book value for disposal of two vehicles:

a) The Truck sold on January 2 would not have depreciation expenses computed for it. The book value on January 1 would be the same on January 2. It is not practical to compute depreciation expense for 1 day.

b) The Truck sold on July 9 would have depreciation computed for the year 2018 pro rated for six months. The book value would be less than the Truck sold on January 2.

Explanation:

Depreciation expense may be pro rated depending on the prevailing circumstances. This becomes necessary because the sold unit may not be fully utilized for the period under review. Under the matching principle of generally accepted accounting principles, it is imperative to match revenue to the period they were incurred.

5 0

3 years ago

Department R had 5,000 units in work in process that were 75% completed as to labor and overhead at the beginning of the period;

Maksim231197 [3]

Answer:

a. 29,450

Explanation:

Equivalent units under FIFO method are calculated using the following formula: Equivalent units for each cost component = (100% − A) × B + C + D × E . Where a = percentage of completion at the end of last period , b = units in opening work in process , c = units started and completed in current period (30,000 - 3,000 =27,000), d = percentage of completion of units in closing work in process , e = units in closing work in process

Equivalent units for each cost component

= (100% − 75%) × 5000 + 27000 + 40% × 3000

= 29,450

5 0

3 years ago