Answer: The law sets minimum standards of behavior while ethics set maximum standards. Laws are created and enforced by governments based on society's ethics to mediate our relationships with each other and to protect their citizens.
Answer:
I have attached the full question with multiple choices:
The company is likely to be very profitable as long as the threat to entry is very low.
Explanation:
As indicated in the question, the fact that power of buyers and suppliers implies that the company Lu runs has a higher bargaining power such that it is able to dictate prices for both buyers and suppliers,which would improve overall profitability.
On the other hand , the threat of substitutes being low means that company would likely retain most of its customers provided also that the barriers to entry are also high-threat of entry is low.
<u>Calculation of total amount of cash paid by castle for insurance premiums during the year;</u>
Cash paid for insurance premiums can be calculated using the following formula:
Cash paid for insurance premiums = Ending prepaid Insurance + Insurance Expense recognized- Beginning prepaid insurance
Cash paid for insurance premiums = 61,650+218,350-50,500 = $229,500
Hence, the total amount of cash paid by castle for insurance premiums during the year is <u>$229,500</u>
Answer:
Following is attached the required solution for the question given.
I hope it will help you a lot!
Explanation: