Answer: B) guaranteeing product quality.
Explanation: After products might have been manufacturing and processing might have been fully completed, finished goods will have to be concealed in an enclosed brand in other to afford the product a certain level of protection, easy handling and convenience to carry around. However, product packaging often goes beyond giving product protection, it is used by manufacturers to appeal and seduce customers to a certain degree in to buying their product over its rivals. Hence, good packaging adds value to a product. However, it is worthy of noting that product packaging does not determine the quality or effectiveness of the product being sold as this depends on the type of material and effort put in during production.
Answer:
a. $33,000.
b. $36,000.
Explanation:
Net income is calculated as sales minus cost of goods sold, selling, general and administrative expenses, operating expenses, depreciation, interest, taxes, and other expenses. It is also called net earnings.
Now, Cash accounting recognizes revenue and expenses only when money changes hands, but accrual accounting recognizes revenue when it's earned, and expenses when they're billed (but not paid).
a. 2014 Cash-basis net income:
Primo Industries collected $105,000 from customers in 2019
Primo Industries also paid $72,000 for expenses in 2019
=105,000-72,000
=$33,000
b. 2014 accrual-basis net income.
=(105,000-25000+40000)-(72000-30000+42000)
=120000-84000
=$36,000
Answer:
A firm's normal range of operating activities is relevant range of operations.
Explanation:
Relevant range of operations can be described simply as a firm or company's expected range of activities without any extreme economic conditions. It is the range where the firm operates in normal conditions. Within this range the firm's operations run smoothly. Outside this range revenue and expenditure may fluctuate from what was expected.
Answer:
LESSER THAN
Explanation:
During the Great Depression, it was a period of recession that meant that investments were low and less than savings which meant that 'household' was unwilling to invest its money as it had lost confidence in the American economy. This will lead to Aggregate Demand being Lesser than Aggregate Supply as consumption fell drastically during the great depression
Answer: whether customers of the product would switch to other substitute products marketed by the same firm.
Explanation:
Customers regular move from one good to another or from one good to it's substitutes in a process called Customer Migration.
There are various reasons for this such as affordability, change in technology, trends and the like.
When a company contemplates ending a product line and decides to study customer migration patterns, they are checking to see what the customer will switch to when the product is deleted. If they make substitutes to the product to be deleted, they will be checking to see if the customers will switch to these substitutes if the product line is ended.
