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3 years ago

One of the limitations for an entrepreneur of setting up a new business as a franchise is:

Business

1 answer:

11111nata11111 [884]3 years ago

6 0

Answer:

The first and most significant disadvantage of a franchise is the fact that the franchisee has no control of the business or how it is run (or very limited control). The rules of the business are already established and part of the franchise agreement.

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A law firm billed a client $1,800 for entries will the firm make to record this transaction? work performed in the current month

Anika [276]

Answer:

E) Debit Accounts Receivable, $1,800; credit Legal Fees Revenue, $1,800

Explanation:

The Journal Entry is as follows :-

Accounts Receivable Dr, $1,800

To Legal fees revenues $1,800

(Being the billing is recorded)

Therefore for passing the journal entry, we debited the Accounts Receivable $1,800 with the credited Legal fees revenues $1,800 so that the proper posting can be done.

7 0

3 years ago

Presented below are three revenue recognition situations. (a) Groupo sells goods to MTN for $901,000, payment due at delivery. (

LekaFEV [45]

Answer:

Groupo

Transaction Price When Revenue should be recognized

a. $901,000 the delivery date

b. $879,000 the sales date

c. $443,000 the sales date

c. $37,000 in the period interest is earned.

Explanation:

1) Data and Analysis:

a. Delivery date: Cash $901,000 Sales Revenue (MTN) $901,000

b. Sales date: Accounts receivable (Grifols) $879,000 Sales Revenue $879,000

c. Sales date: Accounts receivable (Magnus) $480,000 Sales Revenue $443,000 Deferred Interest Revenue $37,000

2) According to the IFRS 15 and ASC 606, Revenue from Contracts with Customers, revenue should be recognized when performance obligations have been met.

8 0

3 years ago

g If the price level rises and the money wage rate stays the same, what effect will this have upon labor demanded and production

kaheart [24]

Answer:

The quantity of labour demanded increases ad production increases

Explanation:

When price level rises and the money wage rate stays the same, the real money wage rate falls. This makes it cheaper for firms to hire labour. As a result, their demand for labour increases and this leads to an increase in production.

5 0

2 years ago

Sammy says, “I don’t think it’s fair that I have to pay for car insurance when I’m a super safe driver.” Explain why this logic

Anvisha [2.4K]

Answer:

Car insurance isn't in place for people who are bad drivers, although I'm sure it helps them too. It's in place for situations you can never predict. Just because you're a good driver doesn't mean the people around you aren't. You have no control of other people's actions, so you might actually need that insurance Sammy.

Explanation:

im smart

6 0

3 years ago

Someone says, "Even though the equilibrium wage rate is $8 an hour in the unskilled labor market, if we impose a minimum wage of

balandron [24]

Answer:

a) The demand curve for unskilled labor is vertical.

Explanation:

Someone says, "Even though the equilibrium wage rate is $8 an hour in the unskilled labor market, if we impose a minimum wage of $10 an hour, no one currently working will lose his or her job." This person must believe that the Group of answer choices demand curve for unskilled labor is vertical.

Response to prices depend on the elasticity of demand because elasticity of demand relates to how quantity demanded will fall as a result of increase in price or in this case wage rate.

A vertical demand curve is a pictorial demonstration of a perfectly inelastic demand which means that no matter how much to you increase the price no change will occur in quantity demanded as such a good is most essential to the consumers.

Therefore if the demand for labor is perfectly inelastic, it means nobody will be laid off with increase in wage rate as firms will not change their quantity demanded for labor.

4 0

3 years ago

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