The plaintiff in a product liability lawsuit has suffered $100,000 worth of damages from an automobile accident. A defect in manufacture of the plaintiff's vehicle is found to be 60 percent responsible for the accident, while the plaintiff's own negligence is 40 percent responsible. Under the doctrine of contributory negligence, how much would the defendantthe manufacturer of the vehiclehave to pay the plaintiff in damages?

Final answer:

In financial statement preparation, accountants do not consider the presentation of the value of a company, which is more relevant to analysts and valuation experts. They focus on the objectives of financial reporting, the characteristics that make information useful, and displaying information in a useful way for investors like bondholders and shareholders.

Explanation:

In preparing financial statements, accountants should consider a range of factors to ensure that the information presented is useful for decision-making. However, not all aspects are relevant to the preparation of these statements. Specifically, the option that is not typically a consideration for accountants is d. The presentation of the value of a company. While the value of a company can be influenced by the information found in financial statements, it is not the direct responsibility of accountants to present this valuation within the statements, as this is usually the domain of analysts and valuation experts.

Accountants focus primarily on:

As a firm becomes established, the personal knowledge of individual managers and their plans becomes less critical for outside investors like bondholders and shareholders. They rely more heavily on the available financial information when deciding to provide financial capital to the firm. Accountants serve these investors by focusing on providing transparent and accurate financial reporting, rather than personal assessments of value.

Answer:

$400,000

Explanation:

Data provided in the question:  

Development cost incurred = $2,000,000  

Amount incurred after the technological feasibility was achieved = $400,000

Now,  

The Software development costs that would be capitalized in 20X1

= Cost incurred after achievement of technological feasibility    

= $400,000  

The Balboa Software Company can capitalize $400,000 of its software development costs in 20X1. These are the costs incurred after the technological feasibility of the software was achieved. Other factors like revenues and economic life of the software are not relevant in this calculation.

In the realm of accounting for software development costs, it's important to know the distinction between costs that can be capitalized and those that must be expensed. According to accounting standards, costs incurred after the technological feasibility of a software is established can be capitalized. Given the information in the question, Balboa Software Company incurred $400,000 towards the software project after technological feasibility was established in 20X1. Thus, the amount of software development costs that would be capitalized in 20X1 is $400,000. Any costs incurred before this point must be reported as an expense. The anticipated revenues, completion date, availability of the product, and the software's economic life do not impact this calculation.

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Answer:

4) buying and installing new computers in the new outlets

Explanation:

The five component model of information systems includes what a company needs to create is IT infrastructure and it includes:

Final answer:

Collecting demographic data from the new markets would be the least disruptive process for the expansion of Drudgen Fitness Inc., as it is an incremental task unlike the other options which require significant changes to business practices.

Explanation:

Considering the processes involved in the expansion of Drudgen Fitness Inc., and referencing the five-component model of information systems, collecting demographic data from the new markets would likely be the least disruptive process to the organization. This is because it represents an incremental addition to the company's existing research activities and does not necessitate significant shifts in the existing business practice or the use of resources. In contrast, developing new CRM software, relocating existing employees and hiring new ones, or installing new computers and systems can be much more disruptive due to the complexity, costs, and potential to interrupt existing operations and the comfort level of current staff with established equipment and software.

Answer:

True

Explanation:

Final answer:

The statement is an argument as it presents a claim with supporting evidence. It argues that stock market indices like the Dow Jones and S&P 500 do not necessarily reflect the overall economic conditions. These indices track the stock performance of large U.S. companies and show general market trends.

Explanation:

When considering whether the provided statement constitutes an argument or a nonargument, we can see it presents a claim and supports it with evidence—hence, it is an argument. The claim is that the stock market's performance (as indicated by benchmarks like the Dow Jones Industrial Average and the S&P 500) does not necessarily reflect the overall health of the economy. The evidence provided includes the contrast between the stock market's highs and specific data points indicative of economic challenges faced by the population such as decreases in median earnings and increases in the number of uninsured Americans.

The significant performance indices mentioned - the Dow Jones Industrial Average and the S&P 500 are crucial metrics in tracking stock market performance. The Dow Jones is a price-weighted average of 30 large industrial stocks, while the S&P 500 is a weighted average of the market capitalization of 500 large firms. Both of these indices provide insights into stock market trends, which generally incline upwards over time despite experiencing significant fluctuations.

Answer:

Japan     $760

The United States     $1,600

France          $6,320

Explanation:

Total personal revenue is the disposable income less personal taxes. Employee earnings minus employee actual taxes in terms of national reports reflect net established income.

The household saving rate is specified as total saving divided by disposable income.

Household saving = Disposable income * Households saving rate

Japan:

$40,000*1.9% = $760

United States :

$40,000*4% = $1,600

France :

$40,000*15.8% = $6,320

The amount people would save on average is:

The average savings rate in a country is indicative of the living expenses that people in that country have to incur. A lower savings rate therefore means that there are more expenses.

The average savings can be calculated by multiplying the disposable income by the average savings rate.

In Japan, the average amount saved in a year is:

= 40,000 * 1.9%

= $760

In the United States:

= 40,000 * 4%

= $1,600

In France:

= 40,000 * 15.8%

= $6,320

In conclusion, we can say that people in France incur less expenses on average.

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Answer:

d. decentralize management and other decisions to the local country

Explanation:

Multidomestic corporations -

It is a type of multinational corporation , which is operated by the local management structure , is referred to as multidomestic corporation .

It make sure the presidents and head of the country make the decisions .

The multinational corporation is decentralized in nature .

As it does not take all the decision from one primary place , so it is decentralize .

Hence , from the given question ,

The correct option is d.

Multidomestic corporations d. decentralize management and other decisions to the local country.

Multidomestic corporations tend to adapt their business strategies to fit local markets, allowing for greater responsiveness to local needs and preferences.

They achieve this by decentralizing decision-making and management to local subsidiaries, which are empowered to function somewhat autonomously while the central headquarters focuses on global strategies, resource allocation, and other overarching functions.

A prime example of a multidomestic corporation is Nestlé, which allows for local adaptation and differentiation while maintaining a strong central strategy for global integration.

Answer:

Evan's business has no credit history.

Explanation:

As Evan has just created the company, it has no record about its ability to pay debt which is important for a bank to give a loan and it will not be willing to approve it if the company has no credit history that shows that it can make the payments. Because of that, it will require Evan to assume personal liability in order to have a guarantee that the loan would be paid back.

Final answer:

The net working capital for Time Now Corporation in 2004 is calculated by subtracting current liabilities ($180) from current assets ($260), resulting in a net working capital of $80.

Explanation:

The student has asked for the calculation of net working capital for TimeNow Corporation in 2004. Net working capital is calculated by subtracting current liabilities from current assets. Hence, for Time Now Corporation:

Net Working Capital = Current Assets - Current Liabilities

Net Working Capital = $260 - $180

Net Working Capital = $80

Therefore, the net working capital for Time Now in 2004 was $80.

The net working capital for TimeNow Corporation in 2004 is calculated as $80.

Net working capital is a measure of a company's liquidity and operational efficiency. It represents the difference between a company's current assets (assets that are expected to be converted into cash or used up within one year) and its current liabilities (obligations due within one year).

In this case, we're given the following information for TimeNow Corporation in 2004:

To calculate the net working capital, we simply subtract the total current liabilities from the total current assets:

Net Working Capital = Current Assets - Current Liabilities

Substituting the given values:

Solving the equation:

This means that TimeNow Corporation had $80 more in current assets than it had in current liabilities in 2004. Positive net working capital indicates that a company has enough short-term assets to cover its short-term liabilities, which is generally considered a good sign of financial health and operational liquidity.

Answer:

It is the concept of 'materiality'

Explanation:

The reason behind having the financial statements of a company getting audited by experienced accounting professionals, known as auditors, is to enhance the reliability of the statements for the different users of financial statements. These users can be regulators, lenders, shareholders, and potential investors among others. The important concept that auditors have to focus on is ensuring that the statements being audited comply with the relevant reporting standards and laws in all "material" aspects. The component of materiality is important.

Any deviation or mistatement is considered to be material if the size of this mistatement could potentially influence users of financial statements into making decisions that they would otherwise may not make had this omission or misstatement not occured. So, auditors need to identify what omissions or mistatements are material before having their opinions changed

Answer:

The correct answer is option A.

Explanation:

A decrease in the demand for a product will cause the demand curve to shift to the left. At the same time, an increase in the supply of the product will cause the supply curve to shift to the right.  

In such a situation the change in the equilibrium quantity cannot be predicted. It depends on the magnitude of change in demand and supply.  

If the proportionate decrease in demand is more than the increase in the supply of the product, the equilibrium quantity will decrease.

If the increase in supply is more than the decrease in demand, the equilibrium quantity will increase.

If the proportionate increase in supply is equal to a proportionate decrease in demand, the equilibrium quantity will remain the same.

Answer:

A revenue for 55 ollars with be recognize on Sep 16th

An expense of $65 will be be recognize on october 22th

Explanation:

Under cash the company will only consider the cash inflwo and disbursement as the object to recognize gain/losses.

Revenues:

55 for collected sales on September 16th

Expenses:

65 payment to suplliers October 22th

If Newbury Company uses the cash basis of accounting, revenue and expense will be reported in different months.

If Newbury Company uses the cash basis of accounting instead of the accrual basis, it will report revenue and expense in the same month when cash is received or paid. Using the cash basis, revenue will be reported in September when the $55 receivable from Alanna Turner is collected. Expense will be reported in October when the $65 owed to the supplier is paid.

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Answer: Relationship marketing

Explanation:

 The relationship marketing is one of the type of business strategy that helps in developing the various types of long term business opportunity by interacting with the customer and also fulfill the actual requirement of the customers.

The main objective of the relationship marketing is that it helps in developing the strong connection with the consumers and promoting the products and the services to the users.

According to the given question, the relationship marketing is the helps in establishing the long term opportunities in which both the seller and the buyers are focus on the value enhancement process.

Therefore, Relationship marketing is the correct answer.  

To determine which investment option will exhibit the lower price, we need to calculate the present value of each investment option using the given interest rate. Option A, which matures in 10 years, has a lower price compared to Option B, which matures in 9 years.

To determine which investment option will exhibit the lower price, we need to consider the concept of present value. The present value of an investment is the current worth of its future cash flows, discounted at the given interest rate. The lower the interest rate, the higher the present value. Using the formula for present value, we can calculate the present value of each investment option and compare them to determine which has a lower price.

Therefore, Option A has a lower price than Option B, with a present value of $571.85 compared to $607.70 for Option B.

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Answer:

The answer is true

Explanation:

Operational goals are specific to the daily tasks and requirements to run a business

Samantha's goal to finish office work quicker to assist at the Return Desk earlier is an operational goal, focusing on day-to-day operations efficiency and aiding the company's cost-saving goals.

Samantha's goal of finishing her office work quicker so that she can assist at the Return Desk earlier in a department store is indeed an operational goal. Operational goals are specific, short-term targets that are designed to achieve efficient day-to-day operations, which in this case, also aligns with the company's overarching aim of decreasing costs. By improving her efficiency, she is not only meeting her own goal but also contributing to the company's cost-saving objectives by potentially decreasing theft.

Answer:

The correct answer is letter "C": Leading.

Explanation:

Leading is the activity individuals engage in any aspect, in any field, when they naturally take responsibility for managing a group of people to achieve a collective goal helping each member of the team reach their personal objectives. Leaders tend to set an example that attracts subordinates. In return, leaders give appraisal to their followers after every little piece of work is done effectively.

Answer:

C) Leading: is the correct answer.

Explanation:

Ronnie, tends to be the advertising manager of a leading newspaper.

Her act towards congratulating every member who successfully complete their daily target, motivates the team members and assures them to keep up with the persistent work. This is the clear sign of a person who is at some leadership position trying to motivate her team players in order to achieve more and more.  Hence she plays the role of a leader and illustrating leading management function.  

Answer:

a. Unearned Revenue; b. Accrued Revenue; c. Accrued Expense; d. Prepaid Expense

Explanation:

Prepaid Expenses : Expenses paid before due

Unearned Revenue : Revenue earned before due i.e Advance Income

Accrued Revenue : Revenue earned i.e due , but not received

Accrued Expense : Expense due but not paid i.e Outstanding Expense

a. Cash received for use of land next month = Unearned Revenue or Advance Income

b. Fees earned but not received in cash = Accrued Revenue / Accrued Income

c. Wages owed but not yet paid = Accrued Expense / Outstanding Expense

d. Supplies on Hand = Prepaid Expense

Cash received for use of land next month is unearned revenue, fees earned but not received in cash is accrued revenue, wages owed but not yet paid is accrued expense, and supplies on hand is prepaid expense.

The items can be classified as -

a. Cash received for use of land next month is classified as unearned revenue. This is because the land has not yet been used, and the revenue is considered unearned until the service (use of land) is provided.

b. Fees earned but not received in cash are classified as accrued revenue. This is because the fees have been earned, but the cash has not yet been received.

c. Wages owed but not yet paid are classified as accrued expense. This is because the expense has been incurred but not yet paid.

d. Supplies on hand is classified as prepaid expense. This is because the supplies have been paid for in advance but have not yet been used.

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Answer:

d. July 2            Cash              9,000,000

                            Common Stock   5,000,000

Paid-In Capital in Excess of Par—Common Stock 4,000,000

Explanation:

Cash is debited with 9,000,000

Common Stock is credited with   5,000,000

and also Paid-In Capital in Excess of Par—Common Stock  credited with  4,000,000

Preferred stock usually has a par value. Like common stock it can be sold at  a price different from par. Preferred stock is recorded in its own separate contributed capital accounts.

The preferred stock accounts are included as a part of contributed capital.The entries for issuing preferred stock for non cash assets are similar to those for common stock.

Answer:

Theory X organization

Explanation:

McGregor defined it as this: an organization whose approach tend to have several strata of managers and supervisors to oversee and direct workers. A place where Authority is rarely delegated, and control remains firmly centralized. Managers are authoritarian and actively intervene to get things done.

Answer: Trading company.

Explanation:

Trading companies are companies that act as the middlemen in a trade helping to connect the buyer of a product to the seller. Trading companies can perform trade of a product within a country and can also export products to consumers in foreign countries. ACME Corp. products can easily be sold internationally by trading companies.

Answer:

d) (ii) and (iv) only

Explanation:

A price ceiling is usually set by the government or an agency of the government. A price ceiling limits how high producers can sell their product. It sets the maximum price that can be charged for a good or service.

For a price ceiling to be effective, price has to be set below equilibrium price.

Because price is less than equilibrium price, the profits of producers would fall and producers would reduce supply. This would lead to an excess of demand over supply. This is known as a shortage.

I hope my answer helps you

A binding price ceiling leads to a shortage by setting the price of a good or service below the equilibrium price, as it increases demand and reduces supply.

A binding price ceiling is an imposed limit on the price of a good or service that is set below the equilibrium price. This artificial capping of the price restricts the price from reaching the level where supply equals demand. As a consequence, at this ceiling price, more consumers want to buy the good than what is available, leading to a shortage. The quantity demanded increases because the good becomes cheaper, while the quantity supplied decreases, as suppliers are not willing to sell as much at the lower price.

Therefore, the correct answer to the question is: 'A binding price ceiling causes a shortage and is set at a price below the equilibrium price.' This corresponds to option (d) (ii) and (iv) only.

Answer:

The demand of a product may increase due to several factors, including a decrease in the product's price, an increase in the price of the competition (substitute products), a decrease in the price of complement, or an increase in consumer income.

The company can only control the price they charge for the product, but they do not control the other external factors. If the supplier is able to increase the quantity supplied, the equilibrium price might not vary at least in the short run. If the external factors continue then the equilibrium will probably increase.

If the quantity demanded for Colgate increases, but the supplier is not able to increase the quantity supplied, then the equilibrium price will increase due to a shortage of the product.

Answer:

False.

Explanation:

The total cost of ownership can be defined as the acquisition cost of an asset and the cost of it's operation. It takes into account the total value of the asset. Before making a decision on the asset one wants to purchase, the total cost of ownership should be assessed. Most buyers make the mistake of only considering the purchase cost of an item without considering other operational and maintenance cost over the items useful life. For example, one might decide to pick a cheap alternative based on it's low purchase cost and later realize very hefty operation and maintenance cost. It is therefor prudent for buyers to consider not only the short-term cost which is the price but also the long-term cost that will be incurred over the item's useful life.

Most companies in business that want to purchase an equipment usually consider the total cost of ownership to determine the best alternative in terms of long-term value. By doing a total cost of ownership analysis, the company tends to have a holistic view of all the direct and indirect costs.

Answer:

The correct answer is option b.

Explanation:

The opportunity cost of an economic decision can be defined as the cost of giving up the second-best alternative. A person received a five-dollar burger joint gift card that expires today.

The person has to choose between eating out at a burger joint or having a home-cooked meal. If the person eats a home-cooked meal, he has to give up the five-dollar worth gift card. Also, the ingredients that he used in the meal could have been used later for something else.

Answer:

The quantity demanded at $3 would be 18 units.

Explanation:

The market demanded curve is the sum of all individual demand curves in the market. We can sum up the individual quantity demanded of a good to find out the quantity demanded by the market as a whole.  

Suppose the price of a good is $3. There are three consumers in the market.

The first consumer would buy 6 units, the second would buy 5 units and the third would buy 7 units.

The market demand for the good at the price of $3 would be,  

= 6 units + 5 units + 7 units

= 18 units

Answer: (A) Differentiation strategy.

Explanation:

 A differentiation strategy is one of the type of business strategy that helps in developing the various types of unique products and the services based on the customer requirements and actual needs.

The main objective of this strategy is that it distinguish the products in the business from the market competition. It is also known as the low cost providing strategy.  

According to the given question, the company is basically implementing the differentiation strategy as the firm is producing the non-standardized products and the services for the customers.  

 Therefore, Option (A) is correct answer.

Answer:

creative

Explanation:

He could either be a humble, extroverted, born or creative leader. From these options the most intuitive answer would be that he is a creative leader given that he has introduced "breakthrough technologies" in the companies products which would only be possible through a great amount of initiative and creativity.

The term "breakthrough technologies" is the key word in answering this question as it refers to innovation that has never been seen before. Thus, it would require a great deal of creativity to think of and successfully introduce and implement into a company.

Answer:

Janice is a public accountant

Explanation:

Public accounting refers to a business that provides its services to other firms at large. By Janice being the owner of such firm she is referred to an accountant that provides her services to the public and she can also be referred to as a certified public accountant  

Answer: This commercial is a slice of life

Explanation:

Slice of life can be defined as the representation of everyday life in the world of art and entertainment. In the case of the commercial, projecting a mother to clean the floor after feeding her baby is something that many young mothers can identify with. Cleaning the house and feeding a baby is something that many mothers do daily as part of their daily living routine, combining this with the use of this floor cleaner can make them feel identified with this aspect of their life and decide to buy the cleaner.

Many times this type of purchase is made due to what the product represents itself. While it is true that it can be a good floor cleaner (or perhaps the best) the young mother who is going to acquire it thinks about that young mother of the commercial and how she managed her life. A floor cleaner is a form of connection.

Answer:

=$100,000

Explanation:

Contribution margin equals to sales - variable cost.

It means the contribution margin has accounted for variable costs.

The total contribution margin, in this case, will be contribution margin per item multiplied by total units sold.

=40,000 units x 4

=$160,000

Operating income = Total contribution margin - fixed costs

=$160,000 - $60,000

=$100,000

Final answer:

The firm's operating profit at a sales volume of 40,000 units, with a contribution margin of $4.00 per unit and fixed costs of $60,000, is $100,000.

Explanation:

To calculate the firm's operating profit using the given sales volume and contribution margin, we need to multiply the number of units sold by the contribution margin per unit, then subtract the fixed costs from the result. In this case, the calculation is as follows:

Number of units sold = 40,000 units

Contribution margin per unit = $4.00

Fixed costs = $60,000

Operating profit = (Number of units sold  imes Contribution margin per unit)
- Fixed costs

Operating profit = (40,000 units  imes $4.00) - $60,000

Operating profit = $160,000 - $60,000

Operating profit = $100,000

Therefore, the firm's operating profit at this sales volume is $100,000.