Tim can be considered as "order-taker".
Order taker can be characterized as a sort of sales representative who gathers requests of merchandise and products yet he doesn't make any endeavors to make the increment in existing deals, increment in the recurrence of requests or to find new clients.
Answer:
- <u><em>Option b. significant positive externalities.</em></u>
Explanation:
<em>Externality </em>is a concept used in economics.
<em>Externalities</em> are consequences of an economic activity that fall on a third party that does not directly participate in it; this is a person who is either the consumer or the producer of the good or service.
The impact of the <em>externality</em> on the third party may be beneficial or adverse. A beneficial externality is a positive externality; an adverse externality is a negative externality.
In the health care system the consumers are the patients and the producers are the physicians, nurses, hospitals, are related ones.
But many others have interest in the health care system: government, insurers, and persons who are not directly patients.
Two examples of important sources of externalities that I found in the internet are the vaccination and the research.
Regarding vaccination, the person who is vaccinated is not the only one who receives the benefit: the neighbors, the fellow workers, the community and the entire society are benefited by you and everyone who is vaccinated. This is a<em> positive externality</em>.
Regarding medical research, the benefit of a laboratory finding a new drug to cure a disease affects positively others.
The correct alternative regarding tax revenue:
<u>B-Personal income tax is currently the largest source of government revenue in South Africa.</u>
<u>Direct </u><u>Taxes</u>
- it is levied on earnings and activities conducted.
- the burden of tax cannot be shifted in case of direct tax.
- it is paid directly by individual concerned.
- it is paid after the income reaches in the hands of the taxpayer
- Tax collection is difficult.
- instance income tax, wealth tax etc.
<u>Indirect </u><u>Taxes</u>
- it is levied on product or services.
- the burden of tax shifted for indirect taxes
- It is paid by way of one man or woman however he recovers the same from another person i.e. person who actually bear the tax ultimate consumer.
- it is paid before goods/service reaches the taxpayer.
- Tax collection is exceptionally easier
- Example GST, excise duty custom duty sale tax carrier tax
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Answer:
The correct answer is C.
Explanation:
Giving the following information:
Production and sales estimates for April are as follows: Estimated inventory (units), April 19,000 Desired inventory (units), April 30 18,000 Expected sales volume (units): Area 3,000 Area 4,750 Area 4,250
Production:
Sales= 12,000
Ending inventory= 18,000
Beginning inventory= (19,000)
Total= 11,000 units
Explanation:
The journal entries are shown below:
1. Sales return and Allowances A/c Dr $400
To Account receivable A/c $400
(Being the returned inventory is recorded)
2. Merchandise inventory A/c Dr $100
To Cost of Goods sold A/c $100
(Being the cost of inventory is recorded)
Since the merchandise inventory is returned for $400 and the same is recorded and together with the cost of the merchandise inventory is also recorded