Answer:
The bakery business is a good business for this location but the jewellery is not.
Explanation:
The bakery business is a good business for this location but the jewellery is not. This is because the vast majority of individuals in the area are most likely going to be people spending the day travelling and going to the beach or taking a walk on the boardwalk. Therefore, pasteries in the morning on a nice day or in the afternoon would be in demand in that area. However, jewellery probably will not be in high demand. The best place for a jewellery store is in the middle of the city where people go to shop, ideally a high income location.
The receivables turnover ratio is an
activity ratio computing how proficiently a firm uses its assets.
Receivables turnover ratio can be calculated by:
net value of credit sales during a given period divided by the average
accounts receivables.
Receivables turnover = sales / receivable
= 4,515,830 / 336,500
= 13.42
Days’ sales in receivables = 365 days/ receivable turnover
= 365 / 13.42
= 27.20
The average collection period is 27.20 days.
<u>Answer:</u>
<em>An</em><em> appliance manufacturer</em><em> gives a warranty, and 95 percent of its appliances do not require repair before the warranty expires. An </em><em>organization buys</em><em> 10 of these appliances. The interval that contains 95.44 percent of all the appliances that will not require repair is (8.12, 10.88)</em>
<u>Explanation:</u>
Here we can calculate the confidence<em> interval for a proportion </em>of 0.95 and a sample size of 10. Note that the critical value for 95.44% confidence is 1.9991.
Between 81.22% and 108.78% of 10 units is 8.12 and 10.88 units. Therefore the <em>confidence interval is:(8.12, 10.88).</em>
Answer:
b. the implied warranty of merchantability
Explanation:
Implied warranty of merchantability refers to an implied assurance, in every sales transaction that the seller's goods are safe and fit for intended purpose of usage.
It represents an unspoken guarantee on the part of the seller that his goods conform to the acceptable standards and properly packaged and labeled and abide by the promises conveyed on their label.
The motive behind such a warranty being, the seller must properly inspect and test the quality of his goods before releasing them or making them available for sale in the market.
In the given case, the seller sold skis to the customer which cracked into two upon usage. The seller isn't aware of the cause of the consequence. Thus, the seller breached the principle of implied warranty of merchantabilty as per which, it should've first checked and inspected the skis before making them available for sale.
