A communism political system favors an economic structure in which means of production are owned and monitored by the government. A communist economy means that the government will control the majority of factors centered around production. They will determine where resources should be used and what type of goods and services will be produced.<span> </span>
Answer:
B. A strategic action because such a large plant expansion will require a major commitment of resources.
Explanation:
There are two major forms of action in business decision making: strategic and tactical. Strategic action deals with decision that require major planning and investment of resource. Strategic actions have long term implementation and effect and are difficult to reverse.
Tactical actions, on the other hand, are flexible and involves actions taken on short term basis. Tactical actions are majorly bye-product of strategic decision.
On this note, Circus Aircraft`s decision to double its plant capacity over the next two years is a strategic action because such a large plant expansion will require a major commitment of resources. And the action will not easily reversible.
Other options in the question are not totally right.
Answer:
The correct answer is letter "D": All of the answers are correct regarding a petty cash fund.
Explanation:
Petty cash funds are sums of money that are useful for businesses to take care of small payments. These payments are too low to allow a check to be written for payment. In some businesses, each department maintains its own small cash box for expenses such as office supplies per unit.
For accounting purposes, transactions involving petty cash are documented only when the petty cash was totally spent and a new fund is to be created and recorded with a voucher.
Answer:
$3760
Explanation:
Calculation to determine the December 31 balance in Bad Debt Expense
Using this formula
Bad debt expense = Credit sales × Uncollectible percentage
Let plug in the formula
Bad debt expense= $94,000 × 4%
Bad debt expense= $94,000 × 0.04
Bad debt expense= $3760
Therefore the December 31 balance in Bad Debt Expense will be $3760
