Answer:
Most entrepreneurs are risk-takers by nature, or at minimum calculated visionaries with a clear plan of action to launch a new product or service to fill a gap in the industry. On a personal level, many entrepreneurs take big risks to leave stable jobs to throw their efforts (and sometimes their own money) into launching a business.
Explanation:
For entrepreneurs, there is no guaranteed monthly income, no guarantee of success, and spending time with family and friends can be a challenge in the early days of launching a company. Here are some of the most common risks that every entrepreneur and investor should evaluate and minimize before starting a business.
10 problems Faced by Entrepreneurs in India While starting their business
Financing.
Lack of Planning.
Hiring the right talent.
Effective marketing within a limited budget.
Self-doubt and uncertainty.
Dealing with criticism.
Attractive Customers.
Making Decisions.
<span>The two major factors are the supply of the product and the demand for it. These work together to set an equilibrium price that would be considered the market rate for the item under consideration. Changes and shifts in either of the two factors will cause the market price to change accordingly.</span>
Answer:
cost of goods sold is $197,800
ending inventory is $55,000
Explanation:
LIFO System is an Inventory Management Method that sells the Recent Inventory Acquired First followed by older Inventory.
<u><em>Cost of Goods Sold</em></u>
March 14 = (1,380×$62) = $85,560
August 31 = (1,130×$80) = $90,400
= (70×$62) = $ 4,340
= (350×$50) = $ 17,500
Total = $197,800
<em><u>Closing Inventory</u></em>
(1,100×$50) = $55,000
Answer:
$3,000
Explanation:
Inventory Sold 2,000*$50=$100,000
Warranty Expense $100,000*3%=$3,000
Therefore $3,000 would be reported in warranty liability account.
When any claim for warranty is reported,the liability will be set off by debiting it and corresponding effect to inventory or stores will be taken.
First you need to find out the amount of insurance coverage needed:
80% of the home value.
(312,500 X .80)
Find that row in the table. Then look in the first column for the amount.
