Answer:
$20,000
Explanation:
The problem simply asks for Eng's initial capital balance in Cor-Eng partnership and it is just Eng's <u>contributed cash of $2,000</u> to form the partnership.
No need to dwell on the other amounts. Just focus on what was being asked and you'll not get lost ^_^
Medical school, and internship and residency program
Answer:
c. update the static planning budget to reflect the actual level of activity for the period
Explanation:
A flexible budget is a financial plan of expenses and revenues based on the actual level of output. A flexible budget adapts to changes in prices and company needs. Because the budget varies with the market condition, it is called a variable cost.
Due to their variable nature, flexible budgets are used to update the static estimates at the end of a period. The company compares the actual result in the flexible budget with that of a static budget. The management uses a flexible budget to evaluate the business performance for the period. Specific areas of success and failures are highlighted. Decisions on areas that need improvement can then be made.
Answer:
A. carries a producer's inventory and performs the functions of a full-service wholesaler
Explanation:
The answer to the question is quite clear. The question is about a manufacturer's branch office. The intent is clear, the branch office in question belongs to a particular manufacturer.
A manufacturer's branch office is typically owned and operated by the manufacturer in a location that is physically different from the manufacturing prlant and the main purpose of this branch office is for the wholesale distribution of manufactured product.
Three Different Types of Wholesalers
1. Merchant Wholesalers - These are primarily into wholesale businesses for different manufacting groups per time. They take products in large quantities from manufacturers and resell to industries, retailers and even smaller wholesalers in smaller quantities.
2. Agents, brokers and commission merchants: They are active middlemen who do not take title of goods like merchant wholesalers but are involved in negotiating on behalf of their manufacturing clients. They are most paid on commission basis based on what business they bring in.
3. Manufacturers' sales branches and offices: The Manufacturer's branch office falls under this category and they are specific wholesale outlets run by the manufacturers themselves to sell their own products.
Considering other Choices in the Question
- Performs a sales function as an option to agents and broker- This is the description of wholesalers type two as described above
- works for several producers and carries noncompetitive, complementary merchandise in an exclusive territory - This is the description of Merchant Wholesalers
- takes title to merchandise but sells only to buyers that call on them, pay cash for merchandise, and furnish their own transportation for the merchandise- This is also the description of Merchant Wholesalers
- brings buyers and sellers together to make sales- This is the description of Agents, brokers and commission merchants.
