The business life cycle corresponds to the stages that a business goes through throughout its existence in the market, which are existence, survival of the fittest, success, take-off and maturity. The correct sequence for this question is C B D A E.
<h3>Maturity</h3>
The business is separate from the owner with responsibilities delegated to staff. A business in this stage usually commands a considerable share of the market and may even be a household name.
<h3>Takeoff</h3>
Expansion strategies are implemented, and investment is balanced with potential.
<h3>Existence</h3>
The business introduces itself to the market and attempts to catch the attention of potential customers.
<h3>Success</h3>
Company is stable and profitable.
<h3>Survival of the Fittest</h3>
Focus shifts to revenue, expenses, and growth. Cashflow is the major issue.
Therefore, the business life cycle will help management to manage its resources according to the business phase and make more effective decisions for competitiveness and organizational positioning.
The correct answer is:
C. Maturity
B. Takeoff
D. Existence
A. Success
E. Survival of the Fittest
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Explanation:
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Answer:
d) Debit Expenses $50,000 and Claims payable $100,000; Credit Cash $150,000.
Explanation:
As for the information provided,
There was this law suit against the company from past several years. Where the lawyers already estimated that liability on the company will arise amounting $100,000.
Thus, on the provisional basis such claims of $100,000 would have been provided ideally.
Now, after final judgement the court had cleared about the claim which is $150,000.
Thus, entry to record such claim of $150,000 will be:
Expenses A/c Dr. $50,000
Claims Payable A/c Dr. $100,000
To Cash A/c $150,000
The true statement out of all is
B) Georgeland has both an absolute and a comparative advantage in producing clothing.
Explanation:
This is because Absolute advantage is when one firm or a producer is able to produce more of a product using less resources or less time or more of the product in the same resources or same time as the other.
Comparative advantage is found out at the added bonus of having the product be as viable as it is advantageous which means that the producer could also be making another product and would have the advantage in that too so either one of them is equally profitable.
