Answer:
B) credit to Accounts Receivable for $1500.
Explanation:
The journal entry to record the given transaction is as follows
Cash $1,470
Sales discounts $30 ($1,500 × 2%)
To Account receivable $1,500
(Being the receipts of payment is recorded)
While recording this transaction we debited the cash as it increased the assets plus the sales discount is also debited and at the same time we credited the account receivable as it decreased the asset
Answer:
B) not transferable to other types of production and can only be used for the product in question
Explanation:
Specific factor of production is a factor of production that is majorly specific and relevant to a particular industry for production, and as such cannot be transferred or moved to another industry. For example, skilled workers in sericulture are specifically trained to serve as a labor factor of production in agriculture or agro-based industry, and would be difficult to be relevant in an automobile industry. Such skilled workers are immobile between both industries.
Answer:
This lesson discusses how factors such as natural resources, power and energy, capital accumulation, technology, the labor force, transportation, communications.
Answer:
False.
Explanation:
The Victoria's part is true she is pursuing cost leadership by keeping it's price low although the Walmart's example is not related to differentiation strategy of competitive advantage. Because keeping mix of products is not differentiation, it's not unique.
- Porter suggested 4 strategies and he believed that by using one of these strategies companies can gain <em>competitive advantage. </em>
The 4 strategies for competitive advantage:
- Cost Focus.
- Cost leadership.
- Differentiation Focus.
- Differentiation Leadership.
