Commission = 50 + .03(num shares)
Commission = 50 + .03(600)
Commission = 50 + 18
= $68
These arise out of the <u>legal</u> environment of business.
<u>Explanation</u>:
A manager is a person who is responsible for controlling and managing the operation of the organization. The manager organizes, plans and directs the staffs in his organization. He is responsible for effective running of the organization.
The manager faces many challenges in the company to maintain its successful running.
The manager is considered to be good if he coordinates his employees towards the success of the organization. The manager should effectively monitor the behavior of the employees.
Type # 2. Quantitative Control Techniques:
Budgets such as: (i) The regular operating, capital expenditure, sales and cash budgets; and. ...
Control Centres.
Audits such as: (i) Internal audits, ...
Ratio analysis (RA).
Break-even (BE) analysis.
Time-preference charts and techniques such as:
Answer:
the monopolist must lower price on all units sold and not just on the last unit sold.
Explanation:
A monopoly is a market structure which is typically characterized by a single-seller who sells a unique product in the market by dominance. This ultimately implies that, it is a market structure wherein the seller has no competitor because he is solely responsible for the sale of unique products without close substitutes.
Any individual that deals with the sales of unique products in a monopolistic market is generally referred to as a monopolist.
Marginal revenue can be defined as the additional amount of money that is gained or generated by a business firm from the sales of an additional unit of a product or service. Graphically, a change in the value of the total revenue curve at a given point gives the marginal revenue.
A price refers to the amount of money a customer or consumer buying goods and services are willing to pay for the goods and services being offered. The price of goods and services are primarily being set by the seller or service provider.
For a monopolist, the marginal revenue (MR) of a product or service is less than price because the monopolist must lower price on all of the units sold rather than lowering price on the last unit sold only.
Hence, the lower price applies to all units sold by a monopolist.
Explanation:
Data provided as per the question below:-
Salary payable = $8,500,000
Salaries for 1 week = $13,700,000
The Journal Entry is shown below:-
Salary expense Dr, $5,200,000
Salary payable Dr, $8,500,000
To Cash $13,700,000
(Being payment of salaries for the week is recorded)