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vagabundo [1.1K]
2 years ago
7

Drag the tiles to the correct boxes to complete the pairs. Match the components of an income statement with their description.

Business
1 answer:
Korolek [52]2 years ago
5 0

Answer:

see below

Explanation:

<u>1. COGS</u>

Expenses incurred for manufacturing or obtaining the products and materials sold during a given period.

COGS are the direct expenses in the production process. They include labor, materials, and direct overheads.

<u>2. Gross profit </u>

Balance arrived at after deducting the expenses incurred on the goods sold from the revenue earned by selling the goods.​

The revenues must exceed the expenses for a business to realize a gross profit. Otherwise, it will be a loss.

3<u>. Operating expenses</u>

Expenses that a business incurs to carry out its daily operations. They are the indirect cost of production. Examples include insurance, administrative, and security costs.

4. <u>Selling expenses </u>

Money spent on advertising, traveling, and promotions. These are the costs incurred in the selling process.

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Martha and Oleg are competitors in a local market and each is trying to decide if it is worthwhile to advertise. If both of them
ad-work [718]

Answer: Martha does not have a dominant strategy

Explanation:

A dominant strategy is one that a player can embark on and get the highest payoff regardless of the actions of their competitor.

In this scenario, there is no strategy that Martha can embark on that would provide the greatest payout regardless of Oleg's decision. If Martha advertises, Oleg makes the same amount advertising as well. If Martha does not advertise, Oleg would decide not to advertise as well and make the same amount.

Martha therefore has no dominant strategy as Oleg would make the same amount regardless of which decision is taken.

5 0
3 years ago
Read and compare the following two scenarios. Explain why the court should or should not pierce the corporate veil in each scena
Sunny_sXe [5.5K]

Answer:

Piercing the Corporate Veil:

1. Smith Services, Inc. and Laker Express:  With the given facts, Smith Services is still in operation by the alter ego, since Smith - the sole owner, has continued to provide trucking services.  Smith should be able to pay for the debts it owed Laker Express.  The question is: why was Smith Services, Inc. dissolved in the first place when the sole owner could continue privately to do the same business?  Is there element of fraud involved, or was it trying to avoid its obligations?  It seems that the dissolution was an effort to avoid liabilities and not because of impaired ability to operate the business because its own debtors did not pay for services on several contracts.  Another question is: during the dissolution or liquidation of Smith Services, Inc. were other creditors not settled and where was Laker Express then?

However, it appears that the dissolution was just to avoid liability, especially the $35,000 debt owed to Laker Express for fuel purchases.

Therefore, in this situation where it seems that the corporate form is ignored, commingling of assets exists, and that Smith Services, Inc. is an instrumentality for Tony Smith, I will advise that the corporate veil be lifted.  Tony Smith should be held liable for the business debts of Smith Services, Inc. because he has continued to use the assets of Smith Services, Inc. to run a sole proprietorship in the same line of business.  However, recourse must be had to the State laws on piercing the corporate veil.

2. Country Contractors, Inc. & Westside Storage of Indianapolis:

Since Country Contractors, Inc and the Westside Storage are based in Indiana, the decision to pierce the corporate veil should be based on the eight factors that are applicable for piercing the veil:  They include: undercapitalization;  absence of corporate records;  fraudulent representation by corporation shareholders or directors;  use of the corporation to promote fraud, injustice or illegal activities;  payment by the corporation of individual obligations;  commingling of assets and affairs;  failure to observe required corporate formalities; or  other shareholder acts or conduct ignoring, controlling, or manipulating the corporate form.

But, the facts in this case do not support that any of the factors had been breached.

So, I do not support that Songers are personally liable for Country's failure to complete its contract.

Explanation:

The corporate veil is an important instrument for protecting shareholders of corporations from being held liable for the liabilities of the corporation in their individual and personal capacities.  Corporate veil ensures that the entity is treated as a separate entity from its shareholders.  It is a protection offered by law to encourage private enterprise and ensure that the debts of corporate bodies are not tagged to the individual shareholders.  It is this veil that ensures the limited liability concept, whereby, the shareholders could only lose their capital contributions in case of business failure or dissolution.

Piercing the corporate veil is a court decision to lift the veil that separates the shareholders of corporation from their shareholders.  There are special factors that must be met for courts to pierce the corporate veil and they do it reluctantly.

5 0
2 years ago
Which describes risk aversion?
Savatey [412]
Risk aversion is the behavior in someone when they are exposed to uncertainty and are unsure of something due to being uncertain about it.  

In this case, reluctant for taking changes when making investment best describes risk aversion from an economics stand point. If someone isn't sure the return on investment they would get from investing or the risks associated with investing in something, they are more hesitant to do that. 
4 0
3 years ago
Read 2 more answers
Luis has $170,000 in his retirement account at his present company. Because he is assuming a position with another company, Luis
serious [3.7K]

Answer:

Luis will have $ 1,153,675.657524 in his account at the time of his retirement.

Explanation:

Acording to the data Luis has $170,000 in his retirement account

His current account after 30 years at 4.5% compounded quarterly will be

Current account = $ 170,000(1 + (0.045/4))^(4*30)

Current account = $ 650,838.260724

Acording to the data Luis also plans to put $2000/quarter into the new account until his retirement 30 years from now.

The future value (FV) of the account will be

FV = 2000[(1 + (0.045/4))^(4*30) -1] / (0.045/4)  0.01125

FV = $ 502,837.3968

Therefore, to calculate how much will Luis have in his account at the time of his retirement we have to calculate the following:

Total amount = Current account+FV

Total amount = $ 650,838.260724 +  $ 502,837.3968

Total amount = $ 1,153,675.657524

Luis will have $ 1,153,675.657524 in his account at the time of his retirement.

4 0
3 years ago
Rock Solid Concrete Company does not offer customers a cash discount for early payment of their accounts receivable. As a result
eimsori [14]

Answer:

Time value of money

Explanation:

The reason is that the money invested today worth more tomorrow. If we have option to pay our supplier $5m after a year is more suitable option than paying him today. The reason is that the amount paid today will be worth $5m but if we pay our supplier after a year then in real terms we have paid the supplier less because money lost its worth by certain percentage during the year. So paying late makes the liability cheaper required their are no interest or other costs.

3 0
3 years ago
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