Answer:
a. No journal entry required.
Explanation:
a. No journal entry required.
b. No journal entry required.
c. DR - Rent Expense - $20
CR - Cash - $20
d. Cash (DR) 7,955
DR - Collection expense - $45
CR - Notes Receivable - $8,000
e. DR - Accounts Receivable-E. Shaw - $ 805
CR - Cash - $805
f. DR - Misc Expenses - $25
CR - Cash - $25
g. No journal entry required.
i. No journal entry required.
Clearer question;
Tom, who owns a successful business with two locations and a few international clients, was approached by a large organization about dramatically expanding his company. Tom later told his wife that he is happy with his success, but he wants to stay small because if he decides to add new products, small companies ____.
Answer:
<u>3. can get started more easily and maneuver faster</u>
Explanation:
Remember, a small company is officially viewed as one having less than 500 employees.
So, Tom's business qualifies as such, and it is quite true to a large degree that small companies can get started more easily and maneuver faster since they require less staff management.
Answer:
3. cannibalization
Explanation:
This term refers to the situation were sales or the market share of a product are reduced because another product is introduced by the same company.
