Answer:
b) The economy is actually harmed as there is a sharp decease in consumer spending.
Explanation:
As a result of the news of a recession people will react by planning for a future that may be bleek financially.
Savings will increase, the greater the fear of recession the more people will save to cushion the impact of recession. There is the possibility of job slow down in economic activities and resultant job losses so extra cash that would have normally been spent will be saved for the rainy day
Answer: $369,500
Explanation:
The Cost concept of accounting calls for the recording of Assets at their cost.
Clementine Repair services offered to buy the land at $350,500 when it was priced at $388,500.
The seller countered with $369,500 and Clementine accepted this.
This means that Clementine bought the land for $369,500 which makes it the cost price.
They should therefore record it at $369,500.
Answer:
C) Business marketing
Explanation:
There are two major types of business transactions: business to business (B2B) and business to consumers (B2C).
When a company engages in B2B transactions, they are selling their products or services to another business or individual that will resell them to individual consumers. For example, Nike sells shoes to Foot Locker, and then Foot Locker resells them to final consumers.
Businesses engaged in B2B transactions use specific marketing strategies aimed at their wholesale clients which usually vary from marketing strategies aimed at final consumers, e.g. offer discounts for buying in bulk.
Answer: Manufacturers follow four steps to implement a manufacturing overhead allocation system. The last step is to: " B. Allocate some manufacturing overhead to each individual job ".
Explanation: The steps to implement a manufacturing overhead allocation system are:
1) Obtain a detailed list of all general manufacturing costs.
2) Choose an allocation base (machine hours, direct labor hours) to divide the general factory costs by this allocation base and assign general costs to each production unit.
3) The total allocation base is divided by the units produced to know the amount of manufacturing overhead associated with each unit.
4)"B. Assign some general manufacturing expenses to each individual job." For example, product X requires 2 hours of work to produce it and product Y one hour, higher general manufacturing costs will be assigned to product X
Answer:
$48,000
Explanation:
The computation of the amount that should be reported as the intangible asset franchise is shown below
= Purchase value of franchise - amortization per year
= $60,000 - ($60,000 ÷ 5 years)
= $60,000 - $12,000
= $48,000
hence, the amount that should be reported as the intangible asset franchise is $48,000
