Answer: Research and development
Explanation: Primary functions are those functions which ensures that the essential requirements to operate the business efficiently are met. These require monitoring by the second level managers of the organisation.
Production, marketing and finance are the basic needs of an organisation for living in the market. Research and development is not an activity without which the business won't be able to run.
Thus, we can conclude that the right answer is Option A.
Answer:
Sales= $3,000,000
Explanation:
Giving the following information:
It expects to sell 10,000 mattresses in the current year and had 1,000 mattresses in finished goods inventory at the end of the previous year. Armando would like to complete operations in the current year with at least 1,250 completed mattresses in inventory. There is no ending work-in-process inventory. The mattresses sell for $300 each.
Production:
Sales= 10,000
Ending inventory= 1,250
Beginning inventory= (1,000)
Total= 10,250
Sales= 10,000*300= $3,000,000
Answer and Explanation:
I will go through each and every option explaining the reasons and what option would be the best:
The (a) part says 'difference in wages will eventually disappear since a haircut is a homogeneous good' - This is not true because even though it is an homogeneous product, some customers do have a strong preference for barbers who are not going bald. Therefore, they know their worth and they would want to capitalize on that and get paid just a bit more than bald barbers.
The (b) part says 'barbershops that hire barbers with hair will be able to charge a higher price for a haircut to those consumers who have a strong preference for barbers with hair'. - If the barbershop charges higher price for barbers that have hair then the customers will prefer bald barbers as the questions mentions that there is high competition and since it is an homogeneous, customers would be willing to save money and get their haircut from some other barber.
The (c) part says 'barbershops that hire bald barbers will always be much more profitable' - Not necessarily. The reason is that some customers have a strong preference for barbers who are not bald and therefore, that would help barbershops who have barbers with hair to be a bit more profitable as some additional customers would want their services.
The (d) part says 'barbershops that hire barbers with hair will always be much more profitable' - This is the best option and the reason for it is because some customers have a strong preference for barbers with hair and that would help the barbershop to earn more. They would have the customers who already indifferent to whoever cuts their hair and in addition to that, they would also have the customers who have their preference.
Hence the answer is D.
Integrated is a close corporation.
<h3>What is corporation?</h3>
- A corporation is a collection of people or a business that has been given legal status as a single entity by the state and is used for specific legal purposes.
- Early corporations were created with a charter. The majority of governments currently permit the registration of new corporations.
- There are four main forms of corporations: sole proprietorships, Limited Liability Companies (LLCs), S-Corporations (S-Corps), and C-Corporations (C-Corp).
- Examples of corporations are Apple Inc., Walmart Inc., and Microsoft Corporation.
<h3>What is a close corporation?</h3>
- A close corporation is a business that has fewer shareholders than the statutory limit and is not a public company.
- The maximum number of shareholders is typically 35, though this varies according on the state's corporate regulations.
Learn more about corporation here:
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Answer:
The correct decision would be to process further before product is sold
Explanation:
Profit if the product is sold un-assembled
Selling price $135
cost of un-assembled product ($60)
Profit on un-assembled product $75
Profit if the product is further assembled before sale
Selling price $170
Cost of un-assembled product ($60)
Cost of assembling product ($25)
Profit if the product is assembled $85
The profit increased by $10 if the product is further assembled before it is sold.
Hence the best course of action would be to further assemble the product before it is sold
