Answer:
INNOVATION
Explanation:
First Mover Advantage is the gained competitive advantage due to being first entrant in the market & hence occupying significantly powerful place in that market segment.
First Mover advantages can be : Economies of Scale, because of higher demand (strong loyal customer base) & streamlined supply processes (old supply chains & supplier's connections) etc.
Old Trade Theorists suggested Factor Endowments as a reason for acquiring First Mover Advantage. New theorists highlight that 'Innovation' plays the main role in today's Knowledge Economies & endogenous growth approach (focusing on human capital, innovation & knowledge) era. Example : Amazon gained first mover advantage in E Commerce as it was first pioneer of innovative idea of selling goods at online platform.
Answer:
$201,700
Explanation:
The budget production for May is 5000 units.
The total materials required for May will be no. of units multiplied by materials needed for each unit
=5000 x 3
=15000 pounds of materials
Materials required for June
=60% of (4400x 3)
= 60/100 x 13200
=7920 pounds of material
Total materials needed for May
= 15,000+7,920
=22,920 pounds
Purchases required will be
=22,920 - 2,750
=20170
Purchases in dollar value =20170 x $10
=$201,700
Answer:
b. a credit to rent expense for $13,500
Explanation:
The computation is shown below:
Since there is an advance rent for $18,000 on Jan 1 and the adjusting entry would be made on March 31
So, the amount would be
= $18,000 - $18,000 × 3 months ÷ 12 months
= $18,000 - $4,500
= $13,500
This amount i.e $13,500 would be credited to rent expense
Hence, the second option is correct
Answer:
E. Bad debt expense can be estimated by the percent of sales method, the percent of accounts receivable method, or by the aging of accounts receivable method.
Explanation:
The bad debt is an expense that is to be shown on the debit side of the income statement. It refers to the amount which is not collectible by the company due to partie bankruptcy
It can be estimated by the following methods using the Generally accepeted accounting principles (GAAP)
1. percent of accounts receivable method,
2. percent of sales method
3. the aging of accounts receivable method
Hence, the correct option is E.
Answer: The answer is as follows:
Explanation:
From the given information,
Japan:
There are 50 workers and 50 acres of land
so,
Worker-land ratio = 
= 
= 1
Land-Worker ratio =
=
= 1
US:
There are 100 workers and 200 acres of land
so,
Worker-land ratio =
= 
= 0.5
Land-Worker ratio =
= 
= 2
From the above calculations of worker to land ratio and land to worker ratio of these two countries.
We conclude that Land-worker ratio in US is greater than that in Japan. So, US is land abundant country. Whereas Worker-land ratio in Japan is greater than that in US. So, Japan is Worker abundant country.
According to the H-O theory, a country exports the commodity whose production requires the intensive use of the country's relatively abundant factor.
It was given that rice is land intensive means that its production requires more of land than worker.
Once countries opens up the trade then,
US exports rice whose production requires the intensive use of land that is the country's relatively abundant factor. On the other hand, Japan exports cloth whose production requires the intensive use of worker that is the country's relatively abundant factor.
