What should be the basic goal of a firm when it sets a level of output?
The firm should make sure that it maximizes its profits. Maximizing profits means they are making the most they possibly can with the items they are selling or services that are being offered. When they make their overall goals, they need to make sure they are going to be making as much as they possibly can to acheive their long-term goals.
Answer:
B. Augmented products.
Explanation:
An augmented product has been improved by its seller with added features or services to recognize it from a similar product offered by its rivals. Augmenting a product includes adding intangible benefits or additional items that go past the product itself.
The actual product is the core product, whereas given by the Plezion Movie Palace to its customers is the augmented product.
Answer:
Advertising Expense , Cost of Merchandise Sold , Merchandise Inventory, Sales,Supplies Expense are closed to income summary account. Revenues and expenses are closed to Income Summary.
Explanation:
Closing Entries
a. Accounts Payable: No it is not closed to income summary account.
b. Advertising Expense: Yes it is closed to income summary account.
c. Cost of Merchandise Sold: Yes it is closed to income summary account.
d. Dividends : No these are closed To Retained Earnings Accounts.
e. Merchandise Inventory : Yes it is closed to income summary account
f. Sales Yes it is closed to income summary account
g. Supplies: No prepaid supplies are an asset account and it is included balance sheet.
h. Supplies Expense: Yes it is closed to income summary account
i. Wages Payable: Not closed in the income summary account.
These are liabilities and included in the balance sheet.
Answer:
Kate policy will pay 1500 dollars while Johns policy will pay 250 dollars
Explanation:
kates policy will pay 1500 dollars while johns policy will pay 250 dollars.
Since Kates deductible is 500 dollars, this deductible will be subtracted from the 2000 dollars collission loss that occurred when John borrowed her car. which gives $1500. therefore her policy will get to pay 1500 dollars. while johns policy will have to pay $250
