just took the test for edge and it was A.
The mistaken classification of the product costas an expense would result in an understatement of the cost of goods sold by $20,500. This would also lead to an overstatement of the net income by the same amount.
To calculate the correct net income for the year, we need to deduct $20,500 from the reported net income.
The cost per unit of the product would be $20,500 divided by 2,050 units, which is $10 per unit.
The cost of goods sold would be 1,025 units sold multiplied by $10 cost per unit, which is $10,250.
Therefore, the corrected net income would be the reported net income minus $20,500, which is the mistaken expense, minus $10,250, which is the corrected cost of goods sold.
If the bonus paid to management is based on net income, then the mistaken classification would have led to a higher bonus payment. The corrected net income would result in a lower bonus payment by 2% of the difference between the reported and corrected net income.
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Answer:
contribution
Explanation:
Based on the scenario being described within the question it can be said that this is an example of the contribution principle of value. This principle states that the value of a specific element is measured in comparison to what it adds to the value of the property as a whole. Which in this case would be $2000 as that is what the porch adds (contributes) to the value of the entire property.
B. feedback
C. source
D. channel of communication
E. the fields of experience
Answer:
The correct option is C
Explanation:
Communication is the process where the information is passed from one person to the another.
Source where it origin from, place of origin or obtain from a specific source.
In this case, North face who showcase a ad on a rock climber along with a tagline which is Never stop exploring. So, in terms of the process of the communication, the North Face is the source of the communication where it origin from.
ANSWER:
C. Source
STEP-BY-STEP EXPLANATION:
A North Face ad shows a rock climber hanging underneath a treacherous overhang, with the tagline, "Never stop exploring." In terms of the communication process, the SOURCE would be North Face.
The source in the communication process may be a company or person who has information to convey, which is North Face in this example.
A source or sender is one of the basic concepts of communication and information processing. Sources are objects which encode message data and transmit the information, via a channel, to one or more observers (or receivers).
b. An increase in the price of a good will lead to a decrease in consumer demand, and a decrease in the price of a good will lead to an increase in consumer demand.
c. An increase in supply of a good will lead to a decrease in demand for that good.
d. An increase in income will lead to a decrease in demand, and a decrease in income will lead to an increase in demand.
The Law of Demand dictates that there is an inverse relationship between the price of a good or service and consumer demand. As price increases, demand typically decreases and vice versa.
The Law of Demand is a principle in economics that states that as the price of a good or service increases, the quantity demanded decreases, assuming all else is equal. Conversely, as the price of a good or service decreases, the quantity demanded increases. Therefore, the correct response to your question would be option B: 'An increase in the price of a good will lead to a decrease in consumer demand, and a decrease in the price of a good will lead to an increase in consumer demand.'
As an example, if the price of a candy bar increases significantly, customers might choose to purchase fewer candy bars or possibly buy other types of candy instead. Conversely, if the price decreased, customers were likely to buy more candy bars, all else being equal.
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Answer:
B. First-in, first-out (FIFO)
Explanation:
Inventory costing method: A method of approximating the flow of inventory costs in a business that is used to determine the amount of cost of goods sold and ending merchandise inventory.
First-in, First-out (FIFO) Method: It is one of the inventory valuation methods to estimate the value of inventory at the end of the accounting period. This method assumes that the goods which are first, these are the one which will be also sold first. This method is also helpful for the business to determine the cost of goods sold during the period.
Answer:
e. leadership
Explanation:
Creating a vision for others to follow, establishing corporate values and ethics, and transforming the way an organization does business so that it is more effective and efficient are the characteristics of the Leadership only.
A leader creates a vision which other follows and it adapt and implement the change in the business way of the organization and also emphasizes on the values and ethics throughout the organization. No other option have all theses characteristics altogether.