The reasons for looting in gauteng and KwaZulu-Natal

Mrac [35]

Answer:

The answer is option A)Personal selling refers to: A customer-directed flow of communications, often in a face-to-face encounter, designed to promote a product with the purpose of making a sale.

Explanation:

Personal selling involves a face to face approach encounter with customers. In advertising, Personal selling involves the use of marketers with great interpersonal and sales skills employed to promote a product offering in the field where they can interface one on one with customers for the purpose of generating sales.

This supports the definition of personal selling as a customer-directed flow of communications, often in a face-to-face encounter, designed to promote a product with the purpose of making a sale.

3 0

3 years ago

Canton Trade Mart has recently had lackluster sales. The rate of inventory turnover has dropped, and the merchandise is gatheri

Tomtit [17]

Answer:

Explanation:

Canton Trade Mart has recently had lackluster sales. The rate of inventory turnover has dropped, and the merchandise is gathering dust. At the same time, competition has forced Canton's suppliers to lower the prices that Canton will pay when it replaces its inventory. It is now December 31, 2018, and the net realizable value of Canton's ending inventory is $ 50,000 below what the company actually paid for the goods, which was $270,000. Before any adjustments at the end of the period, the Cost of Goods Sold account has a balance of $760,000.

a. What accounting action that Canton should take in this situation is inventory write down - from cost to net realizable Value as is prescribed by financial reporting standards.

b. Give any journal entry required.

JOURNAL ENTRY

Dr. Cost of Goods Sold......(270,000 - 50,000)...$220,000

Cr. Inventory...................................................................................$220,000

Being inventory write down of closing inventory to net realizable value at year end.

c. At what amount should the company report Inventory on the balance sheet?

Net Realizable Value of $50,000

d. At what amount should the company report Cost of Goods Sold on the income statement?

Cost of Goods Sold had a previous account balance of $760,000 and will now include the inventory write down of $220,000 making $980,000

e. Discuss the accounting principle or concept that is most relevant to this situation.

International Accounting Standard 2 (IAS 2) stipulates that inventory should be carried at the <u>lower of Cost or Net Realizable Value</u>

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6 0

3 years ago

Read 2 more answers

When you choose an alternative, the value of the alternative that you did not choose is known as?

shutvik [7]

Which would be the opportunity cost

4 0

3 years ago

In the equation of exchange, M x V = P x Q, the P represents ___________________.

Bogdan [553]

Answer:

P in the equation represents Price level

Explanation:

The equation above is referred to as the equation of exchange.

M = money supply, V= velocity of money, P= price level and Q= real output (real GDP)

P × Q gives the nominal GDP while M×V is the effective money supply.

The total value of goods and services available in the economy (represented by the nominal GDP) is equals to the total amount of money available to purchase them (the effective money supply.

The velocity of money is the rate at which money been is used or spent for transaction purposes in the economy. It is assumed to be constant.

For example, If there exist only a $1000 note in the economy, this amount just needs to be spent once to purchase a total nominal GDP of $1000. However, if there exist just one $500 note, then it means the $500 will need to be spent 2 times to purchase the total value of goods worth $1000. The 2 is the velocity of money

This equation is also used to explain the concept of the quantity theory of money.

The theory states that if an economy is operating at the full employment level, an increase in money supply will not impact the real GDP rather it will drive up the price level up. This idea forms the basis of the position of some economists that money supply drives inflation

The assumptions of the theory are as follows:

The velocity of money is constant

The the economy is at the full employment output. This implies that the economy is using all of its productive resources efficiently

3 0

3 years ago

When the CEO of Apple, Steve Jobs, passed away on October 4, 2011, the stock of Apple fell by close to 10% while S&P 500 wen

lilavasa [31]

Answer: C. Idiosyncratic Risk

Explanation:

Idiosyncratic risk which is also referred to as UNSYSTEMATIC RISK is the inherent risk involved when a specific asset is invested in.

The risk affects that specific asset and not the rest of the portfolio or the market. Hence it is the OPPOSITE of SYSTEMATIC RISK as Systematic risk affects all companies.

Idiosyncratic risks are more rooted in individual companies (or individual investments). Investors can mitigate idiosyncratic risks by diversifying their investment portfolios.

A Stock being dependant on a keep figure falls under this type of risk as it is unique to a certain company.

Steve Jobs was considered the Visionary behind Apple and so when he was ill and finally died, Apple Stock kept going down but not by too much.

Bless his soul.

8 0

3 years ago

The reasons for looting in gauteng and KwaZulu-Natal​

The reasons for looting in gauteng and KwaZulu-Natal