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2 years ago

Criteria for recruitment of business administration department

Business

1 answer:

grin007 [14]2 years ago

5 0

Explanation:

A business administration professional typically needs a bachelor's degree in a relevant field, such as business administration, finance, or human resources. A bachelor's requires four years of full-time stud

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Abbott Company uses the allowance method of accounting for uncollectible accounts. Abbott estimates that 4% of credit sales will

OverLord2011 [107]

Answer:

$3760

Explanation:

Calculation to determine the December 31 balance in Bad Debt Expense

Using this formula

Bad debt expense = Credit sales × Uncollectible percentage

Let plug in the formula

Bad debt expense= $94,000 × 4%

Bad debt expense= $94,000 × 0.04

Bad debt expense= $3760

Therefore the December 31 balance in Bad Debt Expense will be $3760

8 0

3 years ago

Allocative efficiency occurs:

jonny [76]

Answer:

a. Anywhere inside or on the production possibilities frontier.

Explanation:

In an economy, the allocative efficiency may be defined as the economic state where the production of various goods or services is aligned with the preferences with the consumers.

The allocative efficiency always materializes at the intersection of the supply curves and the demand curves.

On the $\text{equilibrium point,}$ the price for a supply $\text{exactly matches}$ with the demand for the product $\text{for that supply}$ at that price, and thus all the products are sold.

It occurs anywhere on the production possibilities frontier or on the inside of the frontier.

Therefore, the correct option is (a).

5 0

3 years ago

Rock Solid Concrete Company does not offer customers a cash discount for early payment of their accounts receivable. As a result

eimsori [14]

Answer:

Time value of money

Explanation:

The reason is that the money invested today worth more tomorrow. If we have option to pay our supplier $5m after a year is more suitable option than paying him today. The reason is that the amount paid today will be worth $5m but if we pay our supplier after a year then in real terms we have paid the supplier less because money lost its worth by certain percentage during the year. So paying late makes the liability cheaper required their are no interest or other costs.

3 0

3 years ago

A profit-maximizing firm in a monopolistically competitive market differs from a firm in a perfectly competitive market because

irinina [24]

Answer:

c. faces a downward-sloping demand curve for its product

Explanation:

Perfect Competition is a market form, having large no. of sellers, selling homogeneous products at constant prices. So, constant prices imply that their demand curve is horizontal, perfectly elastic.

Monopolistic Competition is a market form, having many sellers, selling slightly differentiated products which are incomplete substitutes of each other. The prices also vary from firm to firm, depending on product quality. So, these firms have usual downward sloping curve, denoting price-demand inverse relationship.

7 0

3 years ago

On January 2, 20X5, Patriot purchased 80 percent of Jags Inc.'s outstanding common shares for $800,000. Jag reported net income

lorasvet [3.4K]

Answer:

Patriot Company

The cost method adjustments are:

Debit Cash $80,000

Credit Dividends Revenue $80,000

To record the dividends received from Jags Inc.

Explanation:

a) Data and Calculations:

Investment in Jags Inc. = 80%

Jag's outstanding common shares = $800,000

Net income for 20X5 = $310,000

Dividends paid = $100,000

Cost of investment in Jags = $640,000

Cost method adjustments:

Cash $80,000 Dividends Revenue $80,000 ($100,000 * 80%)

b) With the 80% shareholding in Jags Inc., the investment is supposed to be accounted for using the equity method and not the cost method, and the accounts of the two companies should be consolidated. However, using the cost method leaves the investment at cost (or purchase price) in the balance sheet, while adjustments are made for dividends revenue.

6 0

3 years ago