Answer: B. a traditional economy
Explanation:A traditional economy is one which doesn't operate under a profit motive.
Instead, it emphasizes the trading and bartering of products and services that enable participants to subsist in a specific region, community and/or culture. Largely, traditional economies are a way of life in underdeveloped countries that rely more on old-fashioned economic models like farming or hunting than on newer-age modes like industry and technology.
The statement "The emergent strategies are those strategies adopted in light of a thorough analysis of both external and internal environment only" is: True
Emergent strategies are those measures which are taken to ensure that a company grows and is successful even when there is no particular set aims or goals.
However, the statement that an emergent strategy can only exist in only an internal and external environment is true.
This is because these internal and external factors are why the strategies are in place to make sure that there is a realized goal in the company and that continuity is ensured.
Please note that an internal environment is one that has a direct impact on the company,while external environment does not directly impact the company
Therefore, the correct answer is true
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Asset debits are recorded in the left debits column.
Answer:
During a period of inflation, Mast’s ending inventory and income tax payable will be higher using LIFO than FIFO.
Explanation:
In a period of inflation the closing inventory will be higher because of increase in price. In LIFO the oldest unit is sold first and the last purchased remains in the inventory. So Closing inventory is higher which decrease the Cost of goods sold and Increase in profit and ultimately Increase in Taxes as well. In FIFO the Newest unit is sold first and the oldest unit purchased remains in the inventory. So closing inventory is lower which increase the Cost of goods sold and decrease in profit and ultimately decrease in Taxes as well.
