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3 years ago

A process in which two or more people with common or conflict interests decide on a specific issue or business transaction

Business

1 answer:

sweet [91]3 years ago

5 0

Answer:

Negotiation.

Explanation:

An individual with power over the specific allocation and use of resources is generally required or expected to be able to use that power in the decision-making process and take necessary actions.

However, if such individual refuses to exercise his or her powers as stated above, it would generate a conflict due to the fact that processes that are fundamental for the smooth running of the system or business would not take place.

Negotiation can be defined as a process in which two or more people with common or conflict interests decide on a specific issue or business transaction.

Basically, negotiating may lead to the following situations; win-win, lose-lose or win-lose-lose-win.

Hence, it is very important and essential for parties involved in the execution of a project or business transaction to negotiate in order to mitigate conflicts.

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During May, Keenan Company accumulated 570 hours of direct labor costs on Job 200 and 610 hours on Job 305. The total direct lab

sashaice [31]

Answer:

Dr work-in process $ 25,430.00

Cr wages payable $ 25,430.00

Explanation:

The total labor cost on jobs is the total hours spent on each job multiplied by direct labor cost per hour as shown thus:

Job 200=570*$20=$11,400.00

Job 305=610*$23=$14,030.00

Total direct labor cost on both jobs=$11,400.00 +$14,030.00 =$ 25,430.00

The journal entries in respect of labor cost of $25,430.00 is to debit work-in process and again a credit goes to wages payable

7 0

3 years ago

You win the million-dollar lottery and decide to quit working. How can you explain this decision using economics

Mademuasel [1]

Answer:

the income effect now groverns your behaviour as you demand more leisure and the opportunity cost of leisure goes down

Explanation:

In economics, the cost of opportunity refers to when one person or business chooses one advantage over another.
When a person wins the lottery, the person's income increases. This increase in income motivates the person to choose more leisure at work. This means the person is ready to leave work for leisure. In this way, the potential cost of the holiday is reduced.
And with an increase in a person's income, a person's purchasing power improves. Increasing purchasing power means the person seeks more rest. Therefore, choosing to retire at work with an increase in income indicates an income impact. Therefore, if a person decides to quit his job, that person's behavior will be controlled by the income effect.

4 0

3 years ago

Jonas is a 60% owner of Ard, an S corporation. At the beginning of the year, his stock basis is zero. Jonas’s basis in a $20,000

Sindrei [870]

Answer:

The person ‘J’ basis in the stock is $0.

The person ‘J’ basis in his debt is $0.

The capital gain arises as result of distribution is $5,000

Explanation:

J’ share of net income is $10,000 and the distribution of cash to person ‘J’ is $15,000, therefore, the person ‘J’ basis in his stock is first increased by $10,000 and then decreased by $15,000 but it cannot be negative, hence the person ‘J’ basis in his stock is reduced to $0.

During the current year the person ‘J’ share in taxable income is $10,000, hence there is no loss, So the shareholders ‘J’ basis on debt remains $0 or when the company starts making money again, the basis of loan will automatically increase.

The person ‘J’ basis in his debt is $0.

The capital gain on distribution of cash is calculated as follows;

Capital Gain = Cash Distribution - J's basis in is stock

=$15,000 - $10,000

=$5,000

Therefore, the capital gain on distribution of cash is $5,000.

7 0

4 years ago

The following information was compiled by Frank Ironman Incorporated:

Bumek [7]

Answer:

The correct option is D,$20,000 unfavorable

Explanation:

In the first place, it is noteworthy that fixed overhead flexible budget variance is the between the budgeted overhead cost and the actual fixed overhead incurred.

When actual fixed cost overhead is lower than budgeted,the resultant effect is a favorable variance,where the reverse is the case when the budgeted fixed overhead cost is higher as is the case here.

budgeted fixed overhead costs $200,000

Actual fixed overhead costs ($220,000)

fixed overhead flexible budget variance ($20,000) unfavorable

8 0

3 years ago

Exchanged all of the securities for shares of preferred stock, which were not mandatorily redeemable. Market values at the date

ValentinkaMS [17]

Answer:

The full question is as follows <em>"The following accounts were among those reported on Good Corp.'s balance sheet at December 31, year 1: Available-for-sale securities (market value $140,000) $80,000 Preferred stock, $20 par value, 20,000 shares issued and outstanding 400,000 Additional paid-in capital on preferred stock 30,000 Retained earnings 900,000 On January 20, year 2, Good exchanged all of the available-for-sale securities for 5,000 shares of Good's preferred stock. Market values at the date of the exchange were $150,000 for the available-for-sale securities and $30 per share for the preferred stock. The 5,000 shares of preferred stock were retired immediately after the exchange. Prepare the general journal entry, without explanation, to record this event."</em>

Date General Journal Entry Debit Credit

Preferred stock A/c $100,000

(5000*$20)

Add. paid-in capital on preferred stock $7,500

(30000 * 1/ 4)

Retained earnings $42,500

Trading securities A/c $140,000

Gain on exchange of securities $10,000

8 0

3 years ago