Answer:
(a) the cost of the goods sold for the September 30 sale and
(b) the inventory on September 30.
- Ending inventory = 9 units at $17 = $153
Explanation:
date transaction units unit price total
1 beginning inv. 23 $16 $368
5 sale -13 ($208)
17 purchase 24 $17 $408
30 sale -25 ($415)
30 ending inv. 9 $17 $153
When we use first in, first out (FIFO) inventory method, the price of the units sold are calculated using the oldest units in inventory.
The COGS of the units sold on Sept. 5 = 13 units x $16 = $208
The COGS of the units sold on Sept. 30 = (10 units x $16) + (15 units x $17) = $160 + $255 = $415
Ending inventory = 9 units at $17 = $153
Rent control is an example of a "price ceiling", it sets the price of rent "below" the equilibrium price and results in a "shortage" of apartments.
Answer is "D".
Rent control is a type of value control that confines the sum a property proprietor can charge for leasing a home or other land. Rent control goes about as a price ceiling by keeping rents either from being charged over a specific level or from expanding at a rate higher than a predetermined percentage.
<u>Answer:</u>
Difference between money paid to and money received from other nations in trade is called balance of trade is a <u>TRUE</u> statement.
<u>Explanation:</u>
The difference between the export and the import done by the country is usually termed as the balance of trade. Even though the sum of payments and receipts is necessarily equal, in different types of transactions there will be disparities — excesses of transactions and receipts, named deficits and surpluses.
Trade balance does not include any goods (not even product import and export). For example, China, a nation where many of the globe's consumer goods are manufactured and exported, has registered a trade surplus since 1995. Because of its dependence on oil imports and consumer goods, the United States has shown a trade deficit since 1976.
Answer:
B) Job Enlargement
Explanation:
Job enlargement refers to addition of different tasks and activities to the already existing job responsibilities of an individual, at the horizontal level. Such practice enhances job scope and also referred to as horizontal job expansion.
Job enlargement increases the job responsibility and at the same time breaks the monotony of performing the same routine tasks as new job responsibilities are added.
Such an activity also promotes creativity and develops employee skills w.r.t new tasks and activities.
In the given case, an employee has been assigned an additional column for editing apart from the usual sports column he handles. This is a case of job enlargement wherein, the existing job has been enlarged owing to the additional responsibility which has been assigned.
Answer:
The theory of national comparative advantage
Explanation:
The theory of National comparative advantage developed by Micheal porter, emphasizes on the importance of country's factors such as domestic demand and domestic rivalry in explaining a nation's dominance in the production and export of particular products.
It focuses on key concepts such as Firm Strategy, Structure and Rivalry; Factor Conditions; Demand Conditions; and Related and Supporting Industries.
Micheal porter opined that any company’s ability to compete in the international arena is based mainly on these interrelated set of location advantages that certain industries in different nations posses.
