Answer:
Advertising Expense , Cost of Merchandise Sold , Merchandise Inventory, Sales,Supplies Expense are closed to income summary account. Revenues and expenses are closed to Income Summary.
Explanation:
Closing Entries
a. Accounts Payable: No it is not closed to income summary account.
b. Advertising Expense: Yes it is closed to income summary account.
c. Cost of Merchandise Sold: Yes it is closed to income summary account.
d. Dividends : No these are closed To Retained Earnings Accounts.
e. Merchandise Inventory : Yes it is closed to income summary account
f. Sales Yes it is closed to income summary account
g. Supplies: No prepaid supplies are an asset account and it is included balance sheet.
h. Supplies Expense: Yes it is closed to income summary account
i. Wages Payable: Not closed in the income summary account.
These are liabilities and included in the balance sheet.
The most efficient level of output and corresponding marketer hours in the short-run is capital for a time period of fewer than four-six months.
The short run is an idea that within a certain time period, at least one input is fixed while others remain variable. In the short run, firms face both variable and fixed costs, which means that wages, output, and prices do not have full freedom to reach a new equilibrium.
In the short run one factor of production, for instance capital is fixed. This is a time period of fewer than four-six months. In the short run, the firm should increase output as long as marginal revenue exceeds marginal cost, and reduce output if marginal revenue is less than marginal cost.
Hence, in the short run, a firm decides how much output to produce in the current facility.
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Answer:
The correct option is advisor.
Explanation:
In business, advisors can be described as persons who evaluate circumstances and suggest options as what could be done during different circumstances. These options are suggested for the benefit of the company and to lead it towards success. An advisor usually evaluates the business plan for a company.
In the above-mentioned scenario, Andy is entitled to evaluate particular situations and provide better options, hence she is playing the role of an advisor.
Answer:
The company pass from monopoly to a competitive market.
The new companies increase the supply and therefore, the equilibrium price decreases.
Explanation:
The approval of new cable companies generates an increase in the supply. As the suply shift to the right the quantity (people wiht a monthly cable service) will increase and the price (monthly fee) decrease.
Harvey's Company is already starting to decrease his price to do an effort to retain his customer. This company is no longer a monopoly so it will decrease price to be more competitive.
In such a case, the first step for Junior to conduct effective distributive negotiation would be to adequately prepare for it. As he was assigned to promote a bill to allow casino gambling in the state, he should know thoroughly about the pros and cons that involve this activity and also seek to understand the arguments of who is against the bill's approval. Knowing your negotiating adversary will make it much easier to find your flaws and weaknesses so that you can bargain effectively. Junior could at first set up an assembly and then consistently present the positive points, presenting solutions to the opposition's problems and showing relevant points that the opposition did not expect. Some bargains could be the focus on security that these establishments would have, surveillance, the creation of new jobs, the stipulation of the opening hours of the Casino, among others.
