A
A lot of Money in that business
Answer:
The correct answer is Product adaptation.
Explanation:
Product adaptation is the process by which it is modified so that it is well received by different customers or markets. An adaptation strategy is particularly important for companies that export their products, as they ensure that they meet the cultural and legislative demands of the country they are targeting.
Adaptation is also important for companies that want to introduce new products into new markets but do not have enough resources or means to develop completely new items.
Let us assume that the company Taylor Industries bought merchandise from X company. Taylor Industries will record Accounts Payable while X company will record Accounts Receivable.
Since Taylor Industries will no longer be able to pay off its Account Receivable, X company will have to write off the Accounts Receivable. Writing off Accounts Receivable can be done in two ways.
1) Allowance method:
Bad Debt Expense xxxxx
Allowance for Doubtful accounts xxxxx
Writing Off Bad Debt:
Allowance for Doubtful Accounts xxxxx
Accounts Receivable xxxxx
2) Direct Write-off method.
Bad Debt Expense xxxxx
Accounts Receivable xxxxx
In the books of Taylor Industries, it must recognize the cancellation of the Accounts Payable from the transaction with X company.
Accounts Payable xxxxx
Other Income xxxxx
Answer:
<u>Allocative efficiency </u>
Explanation:
Marginal benefit refers to the extra satisfaction derived from purchase of an extra unit of a good or a service.
Marginal cost refers to the extra cost incurred when an additional unit of a good or a service is produced.
When marginal cost is equal to the marginal benefit, it is the most efficient situation wherein optimal blend of commodities is produced.
Allocative efficiency refers to producers providing that blend of goods which are most desired by the society at the optimal level of production.
Answer:
Labor force participation rate = 75.55% (Approx)
Explanation:
Given:
Working population = 450 million
Unemployed people = 95 million
Number of employed people = 245 million
Find:
Labor force participation rate
Computation:
Total labor = 245 + 95 = 340 million
Labor force participation rate = [340 / 450]100
Labor force participation rate = 75.55% (Approx)
