If he pays for the rights to use the name and logo of an existing deli company. The type of business is Shonda forming is: A. A franchise.
<h3>What is franchise?</h3>
Franchise can be defined as the way a person or a company is given the license or right to use a another company trade name or logo.
Based on the given scenario Shonda forming a franchise type of business because he was given the rights to use the name and logo of an existing deli company.
Therefore the type of business is Shonda forming is: A. A franchise.
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Answer:
stockholer's equity will be overstated by $800.
Explanation:
The adjustment required is to record $800 of supplies used as an expense, hence, by carrying out the adjustment, net income is overstated by $800 so also retained earnings and shareholders' equity.
In other words,the balance that would be left in supplies is opening balance of $200 plus purchase of supplies which is $950 minus the supplies used.
balance of supplies=$200+$950-$800=$350
Option B is wrong the balance expected is $350 and the balance without adjustment is $200,that is $150 understatement not $350
Answer:
a per se violation of antitrust law.
Explanation:
The antitrust laws can be defined as those laws that are created by the US government to protect consumers from unfair means of competition in market. The aim of creating such laws is to ensure the protection of customers from corruptive business practices and also to ensure safe healthy competitive environment among same business companies.
<u>In the given scenario, the Association of Organic Food Growers is violating the antitrust law by boycotting farmers, ranchers, etc. The antitrust laws are violated by companies in several ways among them is by boycotting</u>.
Boycotting can be defined as an agreement between several companies that excludes a group of customers or market to avert them from buying aanyy goods or products.
This boycotting agreement is a per se violation of antitrust law.
Answer: All of the other answer choices are true.
Explanation:
FIFO simply refers to “First-In, First-Out” and the method assumes that the oldest goods that are in the inventory of a company have been sold first and therefore, the costs that are paid for them will be used for the calculation.
The following are true regarding the FIFO method:
• FIFO under a perpetual inventory system results in the same cost of goods sold as FIFO under a periodic inventory system.
• A company can choose to account for the flow of inventory using the FIFO method even if this doesn’t match the actual flow of its inventory.
• Perishable goods often follow an actual physical flow that is consistent with the FIFO method assumptions.
Therefore, the correct option is D as all are true.
Answer: Consumption = $6 trillion
government purchases = $1.3 trillion
national saving = $0.7 trillion and
investment = $0.7 trillion
Explanation:GDP is the market value of all final goods and services within an economy during a given period.
GDP = Consumption + Investment/National Savings + Government Expenditure/purchases (in a closed economy)
National Savings/ Investment = Private saving + public saving = $0.5 trillion +$ 0.2 trillion = $0.7 trillion.
Government purchases = Taxes - Public saving = $1.5 trillion - $0.2 trillion = $1.3 trillion
Since, GDP = Consumption + Investment/National Savings + Government Expenditure/purchases (in a closed economy)
Therefore, Consumption = GDP - Investment - Government Expenditure
Consumption = $8trillion - $0.7trillion - $1.3trillion = $6 trillion
