According to the given information, Mr Stanley would be considered an entrepreneur.
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Answer:
Explanation:
December 31, 2017
DR Cash $30,868
CR Lease Receivables $20,569
CR Interest Revenue $10,299
(To record less payment receipt)
Workings
Interest Revenue
= ( Present Value - Rental Payment for year) * Interest Rate
= ($178,002 - $30,868 )*7%
= $10,299.38
= $10,299
Lease Receivables
= 30,868 - 10,299
= $20,569
According to the given scenario, Miranda has discovered that her new business will definitely be successful. Thus, option first is correct.
<h3>What is Business?</h3>
A business is an organization or enterprising body that engages in commercial, industrial, or professional activities. Businesses can be nonprofit organizations or for-profit enterprises.
Among the various business structures are partnerships, corporations, limited liability companies, and sole proprietorship.
According to the above situation, Miranda has learned that the future of her new company is bright as he has taken certain important steps in order to grow her business.
Therefore, it can be concluded that first is correct.
Learn more about business here:
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The telecommunication market structure is considered an oligopoly market when there are high barriers to entry into the market.
<h3>What is a market?</h3>
A market is a place where the goods and services are being acquired by consumers and sold by retailers.
The oligopolistic market is a type of market structure where the control has been exercised by only the fewer firms over the entire market and doesn't allow new firms to enter the market. They initiate the barriers in the form of patenting of products, licenses from the government, adoption of expensive technology, etc.
Therefore, the creation of the barriers to entry of the new firms will mark the given market structure to be oligopolistic.
Learn more about the oligopoly in the related link:
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Answer:
Profit margin = $3 per unit
Explanation:
<em>The profit margin earned is the difference between selling price and the manufacturing cost</em>
Manufacturing cost per unit = variable cost + fixed overhead cost per unit
overhead absorption rate = estimated overhead/estimated machine hours
=$220,000/20,000 machine hours
= $11 per hour
Manufacturing cost per unit = 2 + (11 × 2) = $24 per unit
Profit margin = 27 - 24
= $3 per unit
