Answer:
a. Michael’s personal assets are not recorded on the Apartment Exchange’s balance sheet. ECONOMIC ENTITY PRINCIPLE, the owner's personal assets are not part of his business assets and therefore should be reported separately.
b. The Apartment Exchange records furniture at its cost of $9,000, not its market value of $13,000. HISTORIC COST PRINCIPLE, assets must be recorded at their purchase price.
c. The Apartment Exchange reports its financial statements in U.S. dollars. MONETARY UNIT PRINCIPLE, businesses must record their transactions in a unit of currency (US dollar).
d. Michael expects the Apartment Exchange to remain in operation for the foreseeable future. GOING CONCERN PRINCIPLE, the business will remain in operation for the foreseeable future.
Answer:
3. Threat of flooding the industry with excellent products
Explanation:
Here are Porter's five primary forces:
- Competition between organizations in the same industry.
This create a sense of rivalry that force each organizations to keep improving their products and services.
This is what represented by option 1.
- Potential of new entrants into the industry.
New entrants into the industry will take a portion of market share. This will benefit the customers because it often force competitors to lower the price of their product
This is what represented by option 2
- Power of suppliers.
Suppliers have the ability to connect the producers and the customers. This give them enough leverage to influence the price imposed by the company.
This is what represented by option 4
- threat of substitute products.
Just like new entrants, substituted products could also take away the market share and reduce the profit that can be taken by companies. This is what represented by option 5.
- Power of customers
Customers could create a demand based on their preference. Companies will have to tried their best to fulfill this demand if they wanted to survive.
This is not mentioned in the options above.
Answer:
$3680
Explanation:
The cost of inventory is the cost incurred during assembly/preparing a product for sale and can include warehouse costs and insurance expenses.
In this case, warehouse was $2,400, insured the shipment at a cost of $300 and refurbishing at a cost of $980.
=$2400+$300+$980 =$3680
Answer:
D. quantity supplied is greater than quantity demanded.
Explanation:
Since in the question it is mentioned that the market for sport utility vehicles has excess supply which determines that the supplies is more than the quantity which results that the quantity supplies is more than the quantity demanded as due to the excess supply
Hence, D option is correct and other options are wrong
Answer:
Correct option is (B)
Explanation:
Organizing is a management function that help in implementing the planned activities. It brings together resources, manage and direct them. Under this function, right resource for the job is identified, task is assigned and the manager supervise the work done by them.
Here, Jane is undertaking organizing function as she decides the venue and people for different tasks.
