Electric bill payable Liability
<h3>Is an electric bill considered a liability?</h3>
In our example, the utility bills for gas and electricity used in December are both an expense and a liability as of December 31.
When the utility bills are paid, the liability is eliminated.
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Answer:
Craig Manufacturing Company operates its three production departments within a single facility. Each department produces its own products and maintains its own production equipment. Although they share a common facility, each department is overseen by a separate supervisor. Which one of the following costs is a direct cost of each department?
Production supervisor salary
Explanation:
Production supervisor salary serves as the overhead cost that is attribute to the production in the manufacturing company, it is direct cost for each department since every department has a supervisor
Principal: The person or entity on whose behalf and subject to whose control an agent acts.
Agent: A person who agrees to act on behalf of and instead of his or her principal, subject to the principal's control.
<h3>What is the meaning of the principal-agent problem?</h3>
The principal-agent problem is a conflict in priorities between a person or group and the representative authorized to act on their behalf. An agent may act in a way that is contrary to the best interests of the principal.
<h3>What is a principal-agent relationship?</h3>
The principal-agent relationship is an arrangement in which one entity legally appoints another to act on its behalf. 1 In a principal-agent relationship, the agent acts on behalf of the principal and should not have a conflict of interest in carrying out the act.
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An externality is internalized (a) if the person(s) or group that generated the externality incorporate into their own private cost-benefit calculations the external benefits (in the case of a positive externality) or the external costs (in the case of a negative externality) that third parties bear.
Explanation:
<u>Internalizing the externality means transferring the burden or the cost of a negative externality (like pollution or traffic congestion) to inside(i.e external to internal).</u>
<u></u>
- <u>Internalization of externality can be done through taxes, property rights, tolls, and government subsidies.</u>
- <u>The only way of correcting an externalities is to "internalize" the third party cost involved but this market -driven approach is not feasible </u><u>if the true monetary values cannot be determined.</u>
An externality is internalized if the person(s) or group that generated the externality incorporate into their own private cost-benefit calculations the external benefits (in the case of a positive externality) or the external costs (in the case of a negative externality) that third parties bear.
Answer:
d. retail positioning matrix
Explanation:
In the example, it is noted that Boston Market has added value to its original restaurant format (with pickup, delivery...) on the one hand. On the other hand, they broadened the product line with the grocery foods. The two factors imply the axes of the <em>retail positioning matrix.</em>
The <em>retail life cycle</em> is an often confused topic that is similar to the <em>product life cycle</em> (which is related to products and services exclusively) conceptually. It consists of the following phases: innovation, growth, maturity and decline. Although this example can be correlated to the <em>innovation </em>phase of the retail life cycle, we cannot pinpoint the Boston Market's place on the retail life cycle curve, as we do not have info about its competitors, market share and other external info. Therefore, we cannot detect whether the company is in its up or down phase.
The <em>wheel of retailing</em> is an irrelevant concept, which refers to the tendency that most retailers enter a market in an extremely competitive manner (low cost, for example) and then becomes more exclusive (high cost, better reputation...).
