BUSINESS HIGH SCHOOL

You should not pursue a career in an industry that has experienced even a small decline in employment growth.True
False

Answers

Answer 1
Answer:

Answer:

The correct answer is "False".

Explanation:

It is not correct to say that if an industry experiences a small decline in employment growth, it affects career choice. This phenomenon can be due to variations in the country's economic cycles, sometimes being affected only in the short term and with a possible rise in the long term.

Have a nice day!
Answer 2
Answer:

False. The decline could be a short term aberration or it could depend on the industry that is being discussed.

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Advertiser Co.’s directors voted immediately after year end to double the advertising budget for the coming year and authorized a change in advertising agencies. What is the effect of this event on the year-end statements?

Answers

Answer:

No financial statement revision.

Explanation:

Financial statements are a snap shot of the performance of a business within a given period. The period is always defined and can be a month, a quarter, biannual, or a year.

In this instance the financial statements for the previous year has already been prepared, and Advertiser Co.’s directors voted immediately after year end to double the advertising budget for the coming year and authorized a change in advertising agencies.

There will be no revision of financial statement as this activity happened after the year the financial statement is reporting for.

The profit motive is important to a market economy because it

Answers

Profit motive is a characteristic of free market economies, where the 
sole intention of producers is to make profit. This results in both 
positive and negative results. The importance of profit motive in a market economy is that all firms are established on its basis.

Answer:

encourages people to open businesses and invent new products

The profit motive drives people to risk opening new businesses and creating new products and services. Competition drives businesses to provide better products and services at lower prices. Should a business owner not provide a quality product, that owner risks losing customers to a competitor. In the real world, there are varying degrees of competition

The U.S. government pays for _____ that producers would most likely not provide in the marketplace, such as building roads.public goods and services
borrowing money
revenue

Answers

The U.S government pays for [public goods and services] that producers would most likely not provide in the marketplace such as building roads. Public goods and services are the government's responsibility.

Answer:

Your correct answer is public goods and services

Explanation:

Allied Parts was organized on May 1, 2013 and made its first purchase of merchandise on May 3. The purchase was for 1,500 units at a price of $11 per unit. On May 5 Allied Parts sold 900 of the units for $15 per unit to Baker Co. Terms of the sale were 2/10 n/60. a. On May 7, Baker returns 315 units because they did not fit the customers needs. Allied Parts restores the units to its inventory. b. On May 8, Baker discovers that 75 units are damaged but are still of some use and therefore, keeps the units. Allied Parts sends Baker a credit memorandum for $525 to compensate for the damage. c. On May 15, Baker discovers that 50 units are the wrong color. Baker keeps 54 of these units because Allied Parts sends a $110 credit memorandum to compensate. Baker returns the remaining 36 units to Allied Parts. Allied Parts restores the 36 returned units to its inventory.

Answers

Answer:

the requirements are missing, so I looked for them on similar questions. Journal entries need to be recorded regarding all the transactions with Baker Co.:

May 5, 2013, 900 units sold to Baker Co., credit terms 2/10 n/60

Dr Accounts receivable 13,500

    Cr Sales revenue 13,500

Dr Cost of goods sold 9,900

    Cr Inventory 9,900

a. May 7, 2013, Baker returns 315 units

Dr Sales returns and allowances 4,725

    Cr Accounts receivable 4,725

Dr Inventory 3,465

    Cr Cost of goods sold 3,465

b. May 8, 2013, sales allowance given to Baker to compensate damaged units

Dr Sales returns and allowances 525

    Cr Accounts receivable 525

c. May 15, 2013, sales allowance given to Baker to compensate wrong color of 14 units

Dr Sales returns and allowances 110

    Cr Accounts receivable 110

May 15, 2013, Baker returns 36 units

Dr Sales returns and allowances 540

    Cr Accounts receivable 540

Dr Inventory 396

    Cr Cost of goods sold 396

Mediocre economists often consider only the immediate apparent effects of a change, whereas a good economist will also consider effects that may only become observable over time. This statement most clearly emphasizes:A. The fallacy of composition
B. Economizing behavior
C. The importance of secondary effects
D. The fact that association is not causation

Answers

Answer:

C. The importance of secondary effects

Explanation:

Secondary economic impact is a study of economic activities due to recurring rounds of spending by companies, households, and the government.

Secondary effects are long term and comes after the primary effect (first round of spending).

It is also called induced economic effect.

On January 2, 1986, Beal, Inc. acquired a $70,000 whole-life insurance policy on its president. The annual premium is $2,000. The company is the owner and beneficiary. Beal chairqed officer's life insurance expense as follows: 1986 $2,000 1987 1,8001988 1,500 1989 1,100----------------------------------------- Total $6,400 In Beal's December 31, 1989 balance sheet, the investment in cash surrender value should be:____________.a. $0b. $1,600c. $6,400 d. $8,000

Answers

Answer:

B) $1,600

Explanation:

The ending cash surrender = total premiums paid - total amount charged to insurance expense = ($2,000 x 4 years) - ($2,000 + $1,800 + $1,500 + $1,100) = $8,000 - $6,400 = $1,600

In this case, a larger portion of the premiums paid are allocated to investments related to the life insurance.

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