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Darya [45]
3 years ago
7

More than 99% of all U.S. firms are classified as small businesses, and they employ about half of private workers. A small busin

ess is defined as any independently owned and operated business that is not dominant in its competitive area and does not employ more than 500 people. Understanding the advantages and disadvantages of small business ownership is crucial for any potential entrepreneur.
Match each statement or scenario with the appropriate advantage or disadvantage of small business
i. ownership.ii. Focusiii. Reputationiv. High stress levelv. Inexperience/Incompetencevi. Flexibilityvii.Inability to cope with growthviii.Costsix. Independencex. High failure rateMatch each of the options above to the items below.1. One of the leading reasons for becoming your own boss. 2. A 20-employee factory does not have a designated accounting or advertising department.3. The pizzas offered on the Patrick’s Pizza menu are often based on the types of produce in season.4. Mike’s trucking business provides specific information and products to commercial truck drivers.5. Brandy’s nursery offers delivery and expert installation of their trees at no extra cost to the customer and will replace any defective one up to 3 years after purchase.6. Sue works more than 60 hours a week at her construction business and cannot find reliable suppliers for lumber inventory.
7. Half of all new employer firms fail within the first five years.8. As a fitness expert, Tyler is having difficulties understanding the accounting requirements for his bank business loan for his workout facility.9. Circumstances such as products not arriving on time due to limited capacity affect the reputation of a company more than any other factor.
Business
1 answer:
V125BC [204]3 years ago
5 0

Answer:

A

Explanation:

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Suver Corporation has a standard costing system. The following data are available for June: Actual quantity of direct materials
tatuchka [14]

Answer: $3.10

Explanation:

The actual price per pound of direct materials purchased in June will be calculated as follows:

Let the actual price be represented by x.

Material price variance is calculated as:

= (standard price-actual price) × actual quantity

-2000 = (3 × 20000) - 20000x

-2000 = 60000 - 20000x

20000x = 60000 + 2000

20000x = 62000

x = 62000/20000

x = 3.1

Therefore, the actual price per pound of direct material bought in June is $3.10

4 0
3 years ago
You are president of a large corporation. You have a team of experienced VPs. At a typical monthly meeting each of your vice pre
Delicious77 [7]

Answer:

Situational Leadership Model (SLM), which leadership style should you exhibit at the next meeting?

Style 4. Delegating

Explanation:

Situational Leadership is based on the relationship between leaders and followers and serves as a framework to analyze each situation.

Situational Leadership: Delegating

Delegating: When you create a follower who feels fully empowered and competent enough to take the ball and run with it, with minimal supervision. The follower is highly competent, highly committed, motivated, and empowered.

4 0
2 years ago
obligations not expected to be paid within the longer of one year or the company's operating cycle are reported as
Black_prince [1.1K]

Answer:

Long term liabilities.

Explanation:

This can be easily or mostly be used in companies and also firms. In most cases they are been tagged a non-current liability.

They are generally defined to be obligations that are not been settled for/paid off in the current year or accounting period. Therefore, debts of this kind are not due within a year. Dept of this kind ranges from notes payable to bonds payable, also mortgages and are also seen as leases in a company settings.

In as much as this is not good for a company's financial health, investors and creditors see how the company is financed through this. Current obligations are seen to be more risky than non-current debts because they will need to be paid sooner.

3 0
3 years ago
The population of a city is 310​,000 and is increasing at a rate of 4.5​% each year. Approximately when will the population reac
iogann1982 [59]

Answer:

Approximately after 15 years the population will reach 620,000

Explanation:

Population at start : 310,000

Rate by which the population is increasing: 4.5%

Population after n years is calculated under the next equation:

P=Po(1+r)∧n

620,000=310,000(1+ 0.045<u>)</u>∧n

2= (1+ 0.045<u>)</u>∧n

log(2)=nlog (1+ 0.045<u>)</u>

<u>log(2)</u>=nlog (1.045)

log(2)/log(1.045)=n

n= 15

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7 0
3 years ago
A company Issued 35,000 shares of $.50 par value common stock at $25.50 per share. The journal entry to record this transaction
PolarNik [594]

Answer:

Cash $892,500 (debit)

Common Stock $17,500 (credit)

Share Premium $875,000 (credit)

Explanation:

For par value shares, any price paid above the par value on stock issued is accounted for in the Share Premium Reserve.

Note from this question $25 is paid over and above the par value of $0.25, thus it is accounted in share premium reserve.

5 0
3 years ago
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