Firms make decisions regarding how to operate based on an industry's market structure. True or false
Answers
True. Firms do make decisions regarding how to operate based on an industry's market structure. The market structure refers to the characteristics and organization of a particular market, such as the number of firms, the level of competition, and the barriers to entry.
Different market structures have different implications for firms in terms of pricing, production, and market behavior. Let's take a look at some common market structures:
1. Perfect competition: In a perfectly competitive market, there are many small firms that sell identical products. Firms in this market structure have no control over prices and must accept the market price as given. They compete mainly on the basis of price and output. Since there are no barriers to entry or exit, firms can freely enter or exit the market in response to market conditions.
2. Monopoly: A monopoly occurs when there is only one firm in the market, giving it significant control over prices and output. As the sole provider of a product or service, a monopolistic firm can set high prices and limit production. In this case, the firm's decision-making revolves around maximizing profits and maintaining its market power.
3. Oligopoly: An oligopoly refers to a market structure with a small number of firms dominating the market. These firms have interdependent decision-making, as their actions can have a significant impact on the market. Oligopolistic firms often engage in strategic behavior such as price collusion or non-price competition to gain a competitive advantage.
4. Monopolistic competition: In monopolistic competition, there are many firms in the market, but each offers a slightly differentiated product. Firms in this market structure have some control over prices and can engage in non-price competition, such as advertising and product differentiation, to attract customers. Their decision-making involves finding a balance between product differentiation and price competitiveness.
5. Duopoly: A duopoly occurs when there are only two firms in the market. These firms have a high level of interdependence and their decisions can significantly impact the market. The decision-making of duopolistic firms often involves strategic considerations such as pricing, advertising, and market share.
Firms make decisions regarding how to operate based on the market structure they operate in. The characteristics of the market structure influence pricing decisions, production levels, competition strategies, and market behavior. Understanding the market structure is crucial for firms to effectively navigate their industry and make informed business decisions.
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Related Questions
PLEASE HELP!! NO ONES HELPED YET T^T WILL MARK BRAINLIEST!!!!!!!!!!!!
Answers
Answer:One of the main reasons why people are motivated to do a job well is the sense of achievement they get from it. Achievement is the feeling of pride that comes from knowing you have done your job well.
A second type of motivation that is common in the workplace is that of power. Some people get a lot of pleasure out of having power and authority. This is not necessarily a bad thing, as sometimes these people are particularly good at directing others and can make good managers.
Both types of motivation are common, and they can be very important in the workplace. However, the sense of achievement can be created by the person individually, and requires little group work. On the other hand, the motivation of power depends on the type of interaction the person has with others.
Explanation:self motivation requires a personal drive where as group motivation has other people tell you when your doing good or they can help you when it isnt going right.
please help me with my question from my profile.
A bank reconciliation is a(n) ______. Multiple choice question. internal report prepared to verify the accuracy of the voucher system external report prepared after the recording of adjusting entries and the preparation of financial statements internal report prepared to compare the company's cash records with the bank statement report prepared by the bank to independently verify the accuracy of the cash balance per the company's accounting records
Answers
A bank reconciliation is a(n): Internal report prepared to compare the company's cash records with the bank statement report.
Bank reconciliation is the way in which the bank balance is compare with cash balance in order to detect and rectified any discrepancies or error.
Important of Bank reconciliation includes:
• It enables company's or organizations to know the actual position of their bank balanc
•It help to detect errors
•It help to detect fraud
•It help to prevent fraud
•It help to prevent embezzlement of money.
•It help to verify the accuracy of both the bank balance and the cash balance.
Inconclusion A bank reconciliation is a(n): Internal report prepared to compare the company's cash records with the bank statement report.
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Which of the following is the type of supplier integration where suppliers establish manufacturing facilities closeby?
a. Collaborative forecasting
b. Vendor managed inventory
c. Insourced warehousing
d. Early supplier involvement in NPD
e. Supplier-integrated manufacturing
Answers
The correct answer is e. Supplier-integrated manufacturing. In this type of supplier integration, suppliers establish their manufacturing facilities in close proximity to the buyer's facilities.
This arrangement allows for better coordination, communication, and sharing of resources between the buyer and the supplier. It enables faster response times, reduced transportation costs, and increased supply chain efficiency. By locating manufacturing facilities nearby, both parties can collaborate closely, streamline production processes, and optimize the flow of goods, leading to improved quality control, lower lead times, and enhanced overall operational performance. Supplier-integrated manufacturing promotes stronger partnerships and facilitates a seamless integration of the buyer's and supplier's manufacturing capabilities.
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by swapping non-conflicting operations, can we get a serial schedule where the transactions run in this order?
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Can we create a serial schedule with the transactions running in the following order: T2 —+ T1 —+ T3 by swapping non-conflicting operations.
What is swapping?Swapping in OS is one of those schemes which fulfill the goal of maximum utilization of CPU and memory management by swapping in and swapping out processes from the main memory. Swap in removes the process from hard drive(secondary memory) and swap out removes the process from RAM(main memory).Swapping in the operating system is a memory management scheme that temporarily swaps out an idle or blocked process from the main memory to secondary memory which ensures proper memory utilization and memory availability for those processes which are ready to be executed.When that memory-consuming process goes into a termination state means its execution is over due to which the memory dedicated to their execution becomes free then the swapped-out processes are brought back into the main memory and their execution starts.To learn more about CPU refer to:
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. For each action, write YES or NO for whether it will likely decrease your credit score:
a. You request a copy of your credit report
b. You open 5 new credit cards in one month
c. You are 3 months late paying your student loan bill
d. You lose your job, & it takes 4 months to find a new one
Answers
b. Opening 5 new credit cards in one month - YES
c. Being 3 months late paying your student loan bill - YES
d. Losing your job and taking 4 months to find a new one - YES (if you're late on payments as a result)
because amazon prime offers super-fast, free shipping, many other retailers have had to offer the same type of shipping in order to compete. this is an example of
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Customers pay a charge to utilize items or to access premium services under this subscription-based business model.The basis of this business approach is to provide customers a sense of exclusivity and specialness.Amazon Prime is a good illustration of this membership business.
Amazon Prime is what kind of a program?For a yearly or monthly charge, clients can subscribe to Amazon Prime, which provides premium services.For a monthly subscription fee, Amazon Prime offers shipping reductions, free access to Prime Video, Twitch Prime, Amazon Drive, and 30 minutes of early access to Lightning Deals. Customers that use your product or service on a regular basis pay a charge in a subscription business model.Two excellent examples of subscription-based businesses are Netflix and Spotify. various subscriptionssubscription with a set usage.A fixed fee for a fixed amount of products or services over a specific period of time is offered by the fixed usage subscription model.subscription with unrestricted use.Pay-as-you-go-subscription.free-to-use model. Convenience is the primary factor that makes subscriptions appealing.Subscriptions enable businesses to generate recurring revenue while also giving customers consistent and predictable deliveries of content or goods, whether they are linked to a streaming service, SaaS product, or DTC retail brand. Subscription services enable users to fully control their usage from month to month, hence minimizing waste.This is quite advantageous in a world where we are concerned about climate change and preserving our planet for as long as possible.To learn more about subscription model refer
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A fad shifts the demand curve for a toy to the right. When the fad ends, the demand curve will shift back to the left. How are these shifts likely to affect the toy manufacturer's demand for labor?
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The shifts in the demand curve directly affect the demand for labor for the toy manufacturer which means the rightward shift in the demand curve requires more labor whereas the leftward shift requires less labor.
What do you mean by labor?Labor also called human labor is the workforce who are engaged in the production of a product. The requirements of the labor totally depend on the demand for the product.
When the demand curve shifts toward the right that means the demand for the toys getting increases which leads to more requirements for human labor and when the demand curve moves towards the left, this means a decrease in demand for toys which results in lesser requirements for human labor. This shows a direct effect on the manufacturer of toys regarding the demand for labor.
Therefore, the changing of shifts will affect the manufacturer's demand for labor in a direct manner.
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Alpha had a transaction that caused a $6,000 increase in both total assets and total liabilities. This transaction could have been which of the following? a) The receipt of $6,000 from a customer before it is eamed. None of these. b) The repayment of a $6,000 loan to the bank. c) The cash purchase of a computer. d) The receipt of $6,000 from a customerto satisfy an account receivable
Answers
Option b) The repayment of a $6,000 loan to the bank is not the correct answer. The correct answer would be none of the options provided since none of them align with the given increase in both total assets and total liabilities.
Which transaction could have caused a $6,000 increase in both total assets and total liabilities?
The transaction that caused a $6,000 increase in both total assets and total liabilities could be option b) The repayment of a $6,000 loan to the bank. When a loan is repaid, it results in a decrease in liabilities because the company is reducing its obligation to the lender.
However, in this case, there is an increase in total liabilities, which indicates that the company took on a new loan or borrowed additional funds.
By taking on a new loan of $6,000, the company increases its total liabilities by the same amount. Simultaneously, the company uses the loan proceeds to increase its total assets, typically by purchasing or investing in something of value.
Since there is an equal increase in both total assets and total liabilities, it suggests that the loan proceeds were used to acquire an asset or an item that adds value to the company, such as equipment, inventory, or property.
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ECONOMICS
Determine whether each characteristic describes a sole proprietorship, a general partnership, or a corporation. Note that a characteristic may apply to more than one type of business structure.(2 points)
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The characteristic that describes a sole proprietorship makes a corporation sole proprietor. Option B. This is further explained below.
What is a sole proprietorship?Generally, a sole proprietorship is simply defined as a kind of unincorporated firm in which the earnings are reported and taxed by the owner as a part of his or her personal income.
In conclusion, Individuals who hold single proprietorships are responsible for all financial obligations of the company.
When two or more individuals work together to run a company, they are said to be "in partnership."
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Answer: Stocks may be issued to generate income- Corporation
There are 1 or more owners-Sole Proprietorship, General Partnership, Corporation
Liability is unlimited or can be unlimited-Sole Proprietorship, General Partnership.
Which of the following is a characteristic of a for-profit healthcare facility?
run by government
uses public funds
focuses on services everyone can afford
owned by private citizens
Answers
Answer:
D. owned by private citizens
Explanation:
A for-profit organization can be defined as a type of organization that is created to primarily generate more revenue than its operating costs by providing lawful services to customers. By generating more revenue than operating costs, a for-profit organization is able to make profit.
Some examples of for-profit organizations are privately owned establishments such as hospitals, hotels, restaurants, supermarkets, gas stations, etc.
Hence, a characteristic of a for-profit healthcare facility is that it is owned by private citizens.
Unlike government agencies or organizations which are being run with public funds and at a subsidized rate (focuses on services everyone can afford), for-profit are mostly owned by private citizens, who are always after making profits from the business.
Answer:
D
Explanation:
edge
millicent's is selling old manufacturing equipment. the plant manager in charge of selling the equipment knows that the safety mechanism does not work. when a potential buyer asks millicent's' plant manager if there are any problems with the equipment, he assures the buyer that there are no problems. the buyer purchases the equipment based on the assurance that there is nothing wrong with it. the buyer may be able to sue millicents for group of answer choices assault defamation appropriation fraudulent misrepresentation
Answers
Based on the given scenario, the buyer may be able to sue Millicent's for fraudulent misrepresentation. Option D is correct.
Millicent's is selling old manufacturing equipment with a non-functional safety mechanism. The plant manager, who is responsible for selling the equipment, knows about the safety issue. When a potential buyer inquires about any problems with the equipment, the plant manager falsely assures them that there are no problems.
The buyer makes the purchase based on the plant manager's assurance that the equipment is problem-free. Since the plant manager knowingly provided false information about the equipment's condition, this constitutes fraudulent misrepresentation. In this case, assault, defamation, and appropriation are not relevant to the situation.
Therefore, option D is correct.
Millicent's is selling old manufacturing equipment. the plant manager in charge of selling the equipment knows that the safety mechanism does not work. when a potential buyer asks millicent's' plant manager if there are any problems with the equipment, he assures the buyer that there are no problems. the buyer purchases the equipment based on the assurance that there is nothing wrong with it. the buyer may be able to sue millicents for ...
A. assault
B. defamation
C. appropriation
D. fraudulent misrepresentation
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Which of the following best describes a typical liberal arts college?
A.wide assortment of postgraduate programs
B.small classes and personal attention from professors
C.night classes and vocational training courses available
D.access to large facilities and resources
Answers
Answer:
B.
Explanation:
The difference between a typical liberals arts college and a regular college is that you get several professors just for you. You could say that give you personal attention. While colleges have 1 professor assigned to large classes. Arts college contains smaller classes with multiple professors.
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during an operational investigation, what type of analysis might an organization undertake to prevent similar incidents in the future?
Answers
Understanding a problem's underlying causes will help you find the best solutions, which is what root cause analysis (RCA) is doing.
What are the RCA principles?
RCA is carried out to identify the causes of the incident and to take preventative measures as opposed to just treating the symptoms.A systematic approach is taken in a successful RCA, and conclusions are supported by solid data.Most frequently, an incident has multiple root causes.Soon after an incident occurs, it usually entails an analysis or a discussion. The incident state document is another useful tool that provides a written account of what occurred leading up to and during the incident as well as the answers to the questions required to carry out a root cause analysis.
Therefore, Rather than simply treating sporadic symptoms and putting out fires, RCA believes that it is much more effective to systematically prevent and resolve underlying problems.
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how can Direct subsidized and direct Unsubsidized loans impact your monthly payments?
Answers
there are federal Unsubsidized loans
Unsubsidized student loan interest is usually compounded
DAILY
Unsubsidized: Interest begins accruing
right away
while students are enrolled in school
Subsidized: No payments are due in the first six months after you leave school.
nerdwallet
Subsidized Loans (safer)
If you don’t make payments the lender may add those interest charges to your loan balance
loan balance does not increase when you skip payments, and any payments you make go toward reducing your loan balance.
Unsubsidized loan
if you cant pay this can include wage garnishment, a drop in your credit score or a suspension of your professional license
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Assume that you and your best friend each have $1000 to invest. You invest your money in a fund that pays 10% per year compound interest. Your friend invests her money at a bank that pays 10% per year simple interest. At the end of 1 year, the difference in the total amount for each of you is:.
Answers
You invest $1000 in a fund that pays 10% per year compound interest. At the end of the first year the difference in total amount of your money and her money is zero. However, after 1 year you will have more money than her.
The formula for the future value of simple interest is:
FV = PV (1 + r . n)
While the formula for the future value of compound interest is:
FV = PV (1 + r)ⁿ
Where:
PV = present value = $1000
r = interest rate per period
n = number of periods
Because it is not mentioned, let's assume that it is compounded annually.
Hence, the interest per period is the same for both simple and compound interest:
r = 10% = 0.1
n = 1
Therefore,
FV (simple interest) = 1000 (1 + 0.1 x 1) = 1000 x 1.1 = 1,100
FV (compound interest) = 1000 (1 + 0.1)¹ = 1000 x 1.1 = 1,100
Hence, at the end of the first year the future value for both accounts are the same and the difference is zero. However, after the first year, the account with compounded interest has greater amount.
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An order of magnitude estimate is usually is usually more accurate than a ballpark estimate. True or False
Answers
False. An order of magnitude estimate and a ballpark estimate serve different purposes and have different levels of accuracy.
A ballpark estimate is a rough approximation made without detailed analysis or precise calculations. It provides a general idea or rough range of the magnitude of a value or measurement. While it can be helpful for initial planning or decision-making, a ballpark estimate is not intended to be highly accurate.
On the other hand, an order of magnitude estimate is a more refined estimation technique that provides a closer approximation of the value or measurement. It involves considering the scale or magnitude of the quantity being estimated and making calculations based on significant figures or rough calculations.
Therefore, an order of magnitude estimate is typically more accurate than a ballpark estimate. It takes into account more specific information and allows for a more precise understanding of the value or measurement being estimated.
An order of magnitude estimate is usually more accurate than a ballpark estimate. While a ballpark estimate provides a rough approximation, an order of magnitude estimate offers a more refined estimation based on specific information and calculations.
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3-Define "Pure Risk"
and provide and
provide an example
Answers
Pure risk is a risk in which there is only a possibility of loss or no loss—there is no possibility of gain. Pure risk can be categorized as personal, property, or legal risk.
Example:
→ A car accident.
If a person damages a car in a accident, there would obviously be no gain from it. The only outcome possible of this event would result in a loss, making this example a pure risk.
Record the consumption of supplies durning the month is supplies worth $4000 were purchased on January 5 and at the end of the month supplies worth $3000 were in hand
Answers
Answer: that means you got 3/4 worth of supplies that were purchased.
Explanation:
So the way you did this problem is so weird and is not understandable
Which "unwritten" skill did the Harvard Business Review consider essential to being promoted on the job?
Answers
The skill that's considered essential to being promoted on the job is strategic thinking.
What is strategic thinking?Strategic thinking simply means a form of critical thinking. It simply has to do with seeing the bigger picture.
It is an unwritten skill that the Harvard Business Review consider essential to being promoted on the job. It's about putting thoughts to action.
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Managerial accounting differs from financial accounting in several areas. Specify whether each of the following characteristics relates to managerial accounting or financial accounting.
a. Reports are usually prepared quarterly and annually.
b. Information is verified by external auditors.
c. Focus is on the past.
d. Main characteristic of information is that it must be relevant.
e. Reports tend to be prepared for the parts of the organization rather than the whole organization.
f. Primary users are internal (i.e., company managers).
g. It is governed by Generally Accepted Accounting Principles (GAAP) or International Financial Reporting Standards (IFRS).
h. The primary characteristics of information are that it must be reliable and objective.
i. Reports are prepared as needed.
j. It is not governed by legal requirements.
k. Primary users are external (i.e., creditors, investors).
l. Focus is on the future.
m. Reporting is based mainly on the company as a whole.
Answers
The information given is differentiated into either managerial accounting or financial accounting below:
Main characteristic of data is that it must be reliable and objective = Financial accounting.Not governed by legal requirements = Managerial accountingPrimary users are external (i.e creditors, investors) = Financial accountingFocused on the future = Managerial accountingReporting is based mainly on the company as a whole= Financial accountingReports are usually prepared quarterly and annually= Financial accountingInformation is verified by external auditors = Financial accountingFocused on the past = Financial accountingWhat is managerial accounting?Managerial accounting is a method of accounting that creates statements, reports, and documents that help management in making better decisions.
Financial accounting is concerned with the summary, analysis and reporting of financial transactions related to a business.
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Service blueprinting is grounded in all of the following disciplines EXCEPT:
A. Computer systems analysis
B. Decision theory
C. Economics
D. Industrial engineering
E. Logistics
Answers
Service blueprinting is grounded in all of the following disciplines except Computer systems analysis (option A).
Service blueprinting is a method used to visualize and design the delivery of services. It focuses on understanding and improving the customer experience by mapping out the processes, interactions, and touchpoints involved in service delivery. It is grounded in several disciplines that contribute to its development and application.
(B)Decision theory, economics, industrial engineering, and logistics are all disciplines that are relevant to service blueprinting. Decision theory helps in analyzing and making decisions about service processes and customer interactions.
(C)Economics provides insights into the economic aspects of service delivery, such as pricing and resource allocation.
(D)Industrial engineering offers techniques for optimizing service processes and improving efficiency.
(E)Logistics deals with the management of the flow of goods, services, and information.
On the other hand, computer systems analysis is not directly related to service blueprinting. While computer systems may be used to support service delivery and manage data, it is not a foundational discipline of service blueprinting. Service blueprinting primarily focuses on the design and visualization of the service delivery process rather than the technical aspects of computer systems analysis.
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Job #4260 consisted of 1,000 units at a total cost of $200,000. The cost transferred to cost of goods sold for the sale of 600 of the units is ______.
Answers
Explanation:
job #4260 consisted of 1,000 units at a total cost of $200,000. The cost transferred to cost of goods sold for the sale of 600 of the units is:
total cost / units x sale of units
200,000 / 1,000 x 600
= 120,000
The cost transferred to cost of goods sold for the sale of 600 of the units is 120,000. Frequently, market analysts use models with two sources of info: actual capital, with amount K and work, with amount L.
What is Total cost?In financial matters, total cost (TC) is the base dollar cost of creating some amount of result.
This is the total monetary cost of creation and is comprised of variable cost, which changes as indicated by the amount of a decent delivered and incorporates information sources like work and natural substances.
Work #4260 comprised of 1,000 units at a total cost of $200,000. The cost moved to cost of products sold for the offer of 600 of the units is
Total cost / units x sale of units
200,000 / 1,000 x 600
= 120,000
The negligible cost can likewise be determined by tracking down the subordinate of total cost or variable cost. Both of these subsidiaries work in light of the fact that the total cost incorporates variable cost and fixed cost, yet fixed cost is a consistent with a subsidiary of 0.
The total cost of delivering a particular degree of result is the cost of the multitude of variables of creation. Total cost in financial matters incorporates the total open door cost (benefits got from the following best other option) of each element of creation as a feature of its fixed or variable costs.
Therefore The extra total cost of one extra unit of creation is called minor cost.
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Demand-oriented, cost-oriented, profit-oriented, and competition-oriented are four approaches used to set ______.
Answers
The 4 approaches to set approximate price level includes Demand-oriented, cost-oriented, profit-oriented, and competition-oriented.
In marketing, the determination of the price of a product or services can take different approach which includes:
Demand-oriented: This method attempts to set price at level that intended buyers are willing to pay.Cost-oriented: This method of pricing attempts to set price at the level that will cover the total cost incurred for producing the product.
Profit-oriented: This method of pricing attempts to set price at the level that guarantees the company's profitability
Competition-oriented: This method of pricing attempts to set price while considering competition of other company
Therefore, the four approaches are used to set approximate price level.
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What are the two economic factors that reflect a country's attractiveness as a Market? a Tariffs and quotas b, Industrial structure and tariffs c.Income distribution and tariffs d. Industrial structure and income distribution
Answers
The correct answer is: d. Industrial Structure and income distribution
The two economic factors that reflect a country's attractiveness as a market are industrial structure and income distribution. Industrial structure refers to the makeup of a country's economy, including the types of industries and their level of development.
A diverse and stable industrial structure is attractive to foreign investors because it reduces the risks associated with dependence on a single industry or sector. This also means that a country with a well-developed industrial structure can provide a wide range of products and services, which is attractive to consumers.
Income distribution is another important economic factor that reflects a country's attractiveness as a market. It refers to the distribution of wealth and income among a country's population. A country with a relatively equal income distribution is more attractive to foreign investors because it suggests a stable and prosperous society. This means that the population has more disposable income to spend on goods and services, which is beneficial to businesses.
Tariffs and quotas are also important economic factors that affect a country's attractiveness as a market. However, they are not the two most important factors. Tariffs are taxes on imported goods, while quotas limit the amount of a particular product that can be imported. High tariffs and strict quotas can make a country less attractive to foreign investors because they increase the costs of doing business and limit the availability of goods and services.
In conclusion, a country's industrial structure and income distribution are the two most important economic factors that reflect its attractiveness as a market. These factors indicate the stability and diversity of a country's economy and the purchasing power of its population. While tariffs and quotas are also important, they are secondary to the factors of industrial structure and income distribution.
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To be an effective planner, you should be a(n) learner in areas beyond the technicalities of your profession.
Answers
It is a true statement about being an effective planner who is a learning professional in many areas beyond the technical aspects of his profession.
How to carry out an effective plan?In the business environment, it is necessary to have a comprehensive understanding of internal and external factors that can impact the future of the organization and generate value and market positioning.
Therefore, it is essential that an effective planner is based on technical, social and visionary aspects to ensure that his action plan is positive and successful.
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Answer:proactive
Explanation:
a.
Someone who deals with their negative feelings successfully will probably
never have negative feelings again
b. have developed more negative feelings
never understand why they felt as they did
d. have developed more coping skills
C.
Answers
Answer:
D
Explanation:
edge 2020
Coping skills enable you to tolerate, reduce, and deal with stressful situations in your life. Stress management can help you feel better physically and psychologically, and it can affect your ability to perform at your best.
How to handle unpleasant feelings?To deal with unpleasant feelings, there are several coping mechanisms available. These are as follows:Don't overthink situations by going over them in your head again and again.Try to remain rational; accept that unpleasant emotions will occur from time to time; and consider ways to improve your mood.Relaxing activities such as reading, walking, or conversing with a friend can help you unwind.To be prepared, learn to recognize how sadness, loss, and rage make you feel and what circumstances cause them.Aerobic activity lowers stress hormone levels and improves your ability to deal with unpleasant emotions.Allow yourself to let go of the past; dwelling on the negative things prevents you from enjoying the present and makes you feel bad.To learn more about 'Regarding bad feelings' refer to
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Assignment 2
(20 points)
Assignment 2: Costs and Profit
Instructions
Answers
I'm sorry, I don't know what you mean. Please attach a photo/add the instructions!! Sorry
Answer:
can u please upload it
Explanation:
Vaughn Manufacturing took a physical inventory on December 31 and determined that goods costing $216,000 were on hand. Not included in the physical count were $30,000 of goods purchased from Tamarisk, Inc. , FOB, shipping point, and $21,500 of goods sold to Sheffield Corp. For $32,000, FOB destination. Both the Tamarisk purchase and the Sheffield sale were in transit at year-end. What amount should Vaughn report as its December 31 inventory
Answers
Vaughn Manufacturing should report $216,000 as its December 31 inventory. The goods purchased from Tamarisk, Inc. for $30,000 should not be included in the physical count as they were FOB shipping point, meaning ownership of the goods transferred to Vaughn Manufacturing upon shipment. The goods sold to Sheffield Corp. for $21,500 should also not be included in the physical count as they were FOB destination, meaning ownership of the goods transfers to Sheffield Corp. upon delivery. Since both the Tamarisk purchase and the Sheffield sale were in transit at year-end, they should not be included in the December 31 inventory count.
To determine the correct inventory value for Vaughn Manufacturing on December 31, we need to consider the goods in transit and adjust the physical count accordingly.
Step 1: Include the goods purchased from Tamarisk, Inc.
Since the goods were FOB shipping point, they belong to Vaughn as soon as they were shipped. Therefore, we need to add the cost of these goods to the physical count.
$216,000 (physical count) + $30,000 (goods from Tamarisk) = $246,000
Step 2: Exclude the goods sold to Sheffield Corp.
Since the goods were FOB destination, they still belong to Vaughn until they are received by Sheffield. Therefore, we need to subtract the cost of these goods from the adjusted inventory value in step 1.
$246,000 (adjusted inventory from step 1) - $21,500 (goods sold to Sheffield) = $224,500
Thus, Vaughn should report its December 31 inventory as $224,500.
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Identify a service in which they are packaged.
Please give real answers only, 100 points/brainliest/thanks/5-star Rated and more.
Answers
A service which is packaged is a web design package.
What are packaged services?Packaged services refer to those services that are not offered one at a time but are instead offered as a bundle in order to make them more marketable.
There are several services that can be packaged. Indeed, just about any service can be packaged. An example is a web design package offered to people who want their websites to be managed. A web design package could include things like domain name provision, website hosting, email addresses and social media integration.
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Which of the following is a common special journal to record cash sales?
a. Revenue journal
b. Cash payments journal
c. Purchases journal
d. Cash receipts journal
Answers
Cash receipts journal is a common special journal to record cash sales. Option D is the correct answer.
A unique diary called a "cash receipts journal" is used to track any cash that a company receives. The cash receipts diary is used to keep track of all financial transactions involving the receipt of cash, including sales of goods for cash, bank loans received, payments received on account, and sales of other assets like marketable securities. Option D is the correct answer.
Among a business's primary sources of cash inflow are:
the owner's or proprietor's investment of capitalCash transactions,liquidation of an asset,obtaining payment from customers,taking payments for rent, dividends, or interest.Loan from a private party, bank, or other financial organization.Learn more about Journal Entry here:
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