Answer:
C. Unlike incumbent firms, new entrants do not have formal organizational structures and processes.
Explanation:
Having a structure and processes is good for an organization as this often guide any course of action . However, these structures sometimes seems to be too cumbersome and also take a longer process to build hence not immediately preferred by new entrants. Moreover, incumbent firms prefer incremental innovation to radical innovation due to the disruption that will be caused to existing structures if radical innovation is chosen.
For new entrants, it is somewhat easier for them to involve in radical innovation unlike incumbent firms because of absence of structure and processes which takes time to be built and implemented.
Accounts Receivable are located on the asset side of the balance sheet as the current asset.
Accounts receivable are the formed when company allows buyers to purchase on credit. it is the money owed by the company from its buyers.
It helps in the determining the company's strength by determining the accounts receivable ratios.
It is treated as current asset because it is liquid in nature as money due to the company is received in short time period.
It is recorded in the balance sheet because it is obligation for the customers to pay their debts to the company.
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Answer:
d. Debit Cost of Goods Sold $500.
c. Credit Merchandise Inventory $500.
Explanation:
The journal entry to record the cost of the sale is shown below:
Cost of Goods Sold $500
To Merchandise inventory $500
(To record the cost of the sale)
Here the cost of goods sold is debited as it increased the expenses and credited the merchandise inventory as it reduced the assets
Answer:
The driving forces in an industry are: Option C: major underlying causes of change in industry and competitive conditions and have the biggest influences in reshaping the industry landscape and altering competitive conditions.
Explanation:
Driving force of any organization can be external or internal forces. External ones are like the competitors, profits or technology. Internal forces can be the knowledge of employees, office politics and even competence of all office people). All these factors influence the industries and help them shape the future of an organization.
Thus, Option C is the most appropriate driving force because it causes change in industry and create competition among industries and reshape the industry landscape.
It is false that the effect of the tax on the quantity sold would have been larger if the tax had been levied on consumers.
<h3>What is Tax?</h3>
Tax refer compulsory levy or contribution place on individual, organization or state which is levied by government majorly on workers income or business profits of companies or can be added to cost of goods, services or even any transactions done.
Therefore, It is false that the effect of the tax on the quantity sold would have been larger if the tax had been levied on consumers because the effect of tax on consumers or producers is normally determined by price elasticity.
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