Answer:
The journal entry to record the purchase raw material would include a debit to raw material of $79000 and credit to Raw materials of $109000..
Explanation:
Since the raw material is coming into the company, we have debit raw material and the opening balance is already there in the books of the business. hence raw materials increases.
Answer:
low on the degree of formalization
Explanation:
In management, the degree of formalization measures the extent by which an employees roles or tasks are specific and defined. The higher the degree of formalization, the more standard and regulated the employee's tasks and roles.
In this case, the sales representatives are given a general sales pitch that can be adjusted every time they call a different client. So it is not something standardized.
Answer:
Solo exchange.
Explanation:
Solo exchange is a type of market exchange where there is a short time horizon for the customer-salesperson relation or interaction. This exchange is conflicting in nature, involving a bargain system.
It involves no bonds or any interest in the other party. Consisting of a simple transaction, this short term interaction involves the parties caring about their interests. So, when Adam bought the items from a small store that will never be revisited constitutes a form of solo transaction.
Answer:
Part a: The value of Y_A and Y_B are and respectively.
Part b: Y_A and Y_B are given as and respectively for maximization of Y_B
Part c: The condition for the Pareto efficient allocation is Y_A=Y_B
As the value of Y_A and Y_B are not equal in part 2 thus the condition is not Pareto efficient
Explanation:
Part a
For the value of the utility function is given as
Also the YB is given as
So the value of Y_A and Y_B are and respectively.
Part b:
Now
For the maximization
From question 1 Y_A and Y_B are given as and respectively for maximization of Y_B
Part c:
At the Pareto efficient allocation
This is simplified to
The condition for the Pareto efficient allocation is YA=YB
As the value of YA and YB are not equal in part 2 thus the condition is not Pareto efficient