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Hunter-Best [27]
3 years ago
8

Which of the following is an example of a raw goods producer?

Business
1 answer:
valkas [14]3 years ago
6 0

Answer:

C, a lumber company

Explanation:

The definition of a raw goods producer is a type of producer whose job is to provide raw goods, which are goods in their natural state.  A raw goods producer cannot provide services but only basic commodities (actual items).

Raw goods are usually  basic goods collected or retrieved from nature (the good is not changed or manipulated) and used in the production of manufactured goods.

Basically, think of raw goods as the ingredients in a cooking recipe. A cook does not make or produce the ingredients, the cook simply collects the ingredients from farm who collects the ingredients from nature (raw goods provider). Manufactured goods are what the cook produces out of the cooking ingredients(raw goods).

Out of all the answer choices, the only company which provides raw goods is a lumber company; they simply collect wood, which can be found naturally (without producing it in a factory / man-made) and sell it to producers.

A is wrong, since people use raw goods when MAKING sushi. Since sushi is being produced, it is a manufactured product.

B is wrong, since a comedy club provides services not the selling of real goods.

D may sound right, however many items in grocery stores are produced by factories. In order to be a raw goods producer, the company must specialize and serve only raw goods. Grocery stores have manufactured goods such as ice cream, shampoo, cereal, etc.

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Which of the following statements is correct regarding the adjusting entry to record interest accrued on a note payable?
WARRIOR [948]

Answer:

b. Interest on a note payable should be credited to Notes Payable because it increases the amount of principal to be repaid at the maturity of the note.

Explanation:

Interest accrued on a note payable journal entry :

Debit  : Interest Payable

Credit : Note Payable

5 0
3 years ago
What is an apprenticeship and what does it involve?
vovangra [49]
An apprenticeship would be working as an intern because it’s not an actual job but your working there to learn more about it working as an intern involves a little knowledge on that it’s like a practice or training and it’s a system for training a new generation of practitioners of a trade or proffesion with on-the-job training hope that helps :)
3 0
3 years ago
Suppose that Jane enjoys Diet Coke so much that she consumes one can every day. Although she enjoys gourmet cheese, she consumes
Bas_tet [7]

Answer:

The answer is C.

Explanation:

Necessity goods are the goods or services that a consumer will continue buying whether income falls or the price rises. This type of goods are considered essential. The are not sensitive to price. To Jane, Diet coke is a necessity because she takes it everyday.

While luxury goods are goods that are really not essential. They are owned or bought for the sake of showing wealth or affluence. To Jane, gourmet cheese is a luxury good.

4 0
3 years ago
Your company is considering the replacement of an old delivery van with a new one that is more efficient. The old van cost $40,0
Helen [10]

Answer:

$51,164

Explanation:

The project's terminal cash flow is basically the cash flow of the project's last year.

depreciable value = $80,000 + $6,000 - $23,031 = $62,969

depreciation expense per year = $62,969 / 5 = $12,593.80 per year

net cash flow year 5 = [(savings - depreciation expense) x (1 - tax rate)] + depreciation expense + salvage value + recovery of net working capital = [($28,000 - $12,593.80) x (1 - 35%)] + $12,593.80 + $23,031 + $5,525 = $51,163.83 ≈ $51,164

7 0
2 years ago
James Company began the month of October with inventory of $32,000. The following inventory transactions occurred during the mon
NARA [144]

Answer

The answer and procedures of the exercise are attached in the following archives.

Explanation  

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

Download xlsx
3 0
3 years ago
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