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3 years ago

Match the careers to the consumer service industry to which they belong.

Business

1 answer:

Gemiola [76]3 years ago

8 0

Answer:

The correct answers are:

1. Actor, writer, musician : entertainment.

2. Dietician, optician : health care.

3. Litigator, paralegal, attorney : legal industry

Explanation:

Industries dedicated to consumer service are those whose product is directed directly to a consumer, and not to a company.

The product they offer is a service, and not a material good.

These industries will have professionals or people specialized in the subject who will be in charge of offering and selling this product.

That is what we see in the examples.

The health industry will offer services dedicated to health, therefore it will have professionals dedicated to this field.

The legal industry will have services dedicated to legal issues such as a lawyer, a litigator, etc.

And the entertainment industry will be dedicated to shows, this is where actors, musicians or writers come in.

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Arctic Cat sold Seneca Motor Sports a shipment of snowmobiles. The snowmobiles were delivered on January 1, 2021, and Arctic rec

WITCHER [35]

Answer:

Assume the note indicates that Seneca is to pay Arctic the $39,700 due on the note on December 31, 2021. Prepare the journal entry for Arctic to record the sale on January 1, 2021.

Dr Notes receivable 39,700

Cr Sales revenue 36,759.26

Cr Discount on notes receivable 2,940.74

Discount on notes receivable is a contra asset account that decreases the net amount of notes receivable.

Assume the same facts as in requirement 1, and prepare the journal entry for Arctic to record collection of the payment on December 31, 2021.

Dr Cash 39,700

Cr Notes receivable 36,759.26

Cr Interest revenue 2,940.74

Assume instead that Seneca is to pay Arctic the $39,700 due on the note on December 31, 2022. Prepare the journal entry for Arctic to record the sale on January 1, 2021.

Dr Notes receivable 39,700

Cr Sales revenue 34,036.35

Cr Discount on notes receivable 5,663.65

Discount on notes receivable is a contra asset account that decreases the net amount of notes receivable.

Assume instead that Arctic does not view the time value of money component of this arrangement to be significant, and that the note indicates that Seneca is to pay Arctic the $39,700 due on the note on December 31, 2021. Prepare the journal entry for Arctic to record the sale on January 1, 2021.

Dr Notes receivable 33,900

Cr Sales revenue 33,900

Explanation:

Non interest bearing notes must be recorded at present value, so we need to determine the present value of the payment:

Payment due December 21, 2021, PV = $39,700 / (1 + 8%) = $36,759.26

Payment due December 21, 2022, PV = $39,700 / (1 + 8%)² = $34,036.35

We use the discount on notes receivable account (contra asset account) to decrease the net value of notes receivable.

8 0

3 years ago

The underlying reason why trade benefits both sides of a trading arrangement is rooted in the concept of __________________.

Marysya12 [62]

Answer:

opportunity cost

Explanation:

The concept of Opportunity cost deals with the idea that individuals, investors, or business owners, due to scarcity of resources, lost possible benefits that could be gained, as he or she chooses alternative choice.

Hence, the underlying reason or factor trade benefits both sides of a trading arrangement is rooted in the concept of OPPORTUNITY COST.

Therefore, the right answer is Opportunity cost.

7 0

2 years ago

A company reports the following beginning inventory and purchases for the month of January. On January 26, the company sells 350

nydimaria [60]

Answer:

The costs assigned to ending inventory based on the LIFO method under periodic inventory system are:

= $450.

Explanation:

a) Data and Calculations:

On January 26, the company sells 350 units. 150 units remain in ending inventory at January 31.

Units Unit Cost Total Cost

Beginning inventory on January 1 320 $ 3.00 $960

Purchase on January 9 80 3.20 256

Purchase on January 25 100 3.34 334

Tota units available for sale 500 $1,550

Sales on January 26 350 $1,100

Ending inventory at January 31 150 $3.00 $450

8 0

3 years ago

Why do market fail? A) merit good B) storage C) misusing the powers

Nimfa-mama [501]

The answer is C because you can't misuse your powers in business

8 0

3 years ago

Research suggests that people just care about getting a paycheck out of their jobs.

quester [9]

Answer (1)

False

Explanation:

Getting a paycheck is not what most people want out of their job, studies have shown that some people, contrary to the general believe actually look for other things asides paycheck from their jobs. Some of these factors that encourages people into finding fulfillment in their jobs includes permanent flexibility of the working time, commitment into to health and well being of the staffs by the employer of these people, etc. This factors creates a sense of purpose in the workers, encouraging them to put their body and soul into the job without thinking too much about the paycheck.

Answer (2)

True

Explanation:

Different people have different reasons for working, although some just work for the paycheck, others are driven by a sense of purpose among other things. To some people, the work setting provides a sort of belonging and gives them the impression of working in a team, which is what most people actually want.

Answer (3)

2. Belongingness

Explanation:

As stated, some workers just want the setting that provides a sense of belonging and security within a team. This type of workers are not too concerned with the paycheck increase that comes with a promotion if it takes them away from their perceived team.

8 0

3 years ago