Answer:
Some of the characteristics of successful leaders are that they must be able to direct, guide and commit their employees. In this example, Barbara is just doing that, she is telling her employees what will be done in a way that they both agree upon and believe it is a good option.
She was able to stop an argument that could eventually lead to more serious problems within the organization and provided a solution that satisfied both parties.
The best way to put together a business plan is first to do a comprehensive research on the type of business you are going to set up and study the industry you would like to enter into. The business plan should consist of the following key elements:
1. Company overview that includes the company’s mission and vision, products or services, unique characteristic of the product and the business opportunities.
2. Study of the business environment that includes industry, market, competition and target market analysis
3. Company description that introduces the management team, technology used, operations, products or services and distribution
4. Company strategy which is the roadmap to achieving the company’s targets and goals
5. Financial review that shows the condition of the company that includes, the financial statements such as the balance sheet, income statement, cash flow statement and projections
6. Detailed action plan that is doable, realistic and can work within a specific time frame
Answer:
Reasons for the Decline in US Newspaper Circulation:
Digital Transition: The rise of digital media and the availability of news online have led to a shift in readership habits. Many people now prefer to get their news from websites, social media, and mobile apps, which offer real-time updates and a wider range of content.
Decline in Print Advertising: The decline in print advertising revenue has led to cost-cutting measures in the newspaper industry. Reduced resources for newsrooms have resulted in lower quality and less appealing content.
Economic Pressures: Economic challenges in the newspaper industry, including declining ad revenue and increased production costs, have forced many newspapers to reduce their circulation areas or close altogether.
Changing Demographics: Younger generations are less likely to subscribe to print newspapers, and older generations who were traditional newspaper readers are aging.
Alternative News Sources: The proliferation of alternative news sources, including cable news networks, independent online media, and social media influencers, has diversified the news landscape and reduced the dominance of traditional newspapers.
Comparison with Circulations in Other Nations:
Global Trend: The decline in newspaper circulation is not unique to the United States; it's a global trend. Many developed countries, including those in Europe and parts of Asia, have experienced similar declines in print newspaper readership.
Varying Degrees: The rate of decline and the extent of impact vary from country to country. Some nations have witnessed steeper declines, while others have managed to maintain relatively stable newspaper circulation figures.
Local Factors: The reasons for declining circulation in other nations often mirror those in the United States, including the shift to digital media, economic pressures, and changing demographics.
Survival Strategies: Newspapers in some countries have implemented various survival strategies, such as diversifying into digital media, introducing paywalls, and focusing on niche audiences to maintain circulation.
State of Journalism: The impact on journalism quality and diversity varies. Some nations have seen a reduction in local reporting and investigative journalism, while others have adapted to new media landscapes.
Government Support: In some countries, governments provide financial support or subsidies to newspapers to ensure their continued existence as important sources of information.
(a) Disclosure note only.
(b) Liability is accrued and related information disclosed.
(b) No disclosure note needed.
2. Loss is remote
(a) Disclosure note only.
(b) Liability is accrued and related information disclosed.
(b) No disclosure note needed.
3. Loss is probable and reasonably estimable.
(a) Disclosure note only.
(b) Liability is accrued and related information disclosed.
(b) No disclosure note needed.
4. Loss is reasonably possible and not reasonably estimable.
(a) Disclosure note only.
(b) Liability is accrued and related information disclosed.
(b) No disclosure note needed.
Answer:
1. a
2. a
3. b
4. a
Explanation:
A liability is a present obligation of the entity arising as a result of past event, the settlement of which will result in the outflow of economic benefits. It is presented in the Statement of Financial Position
A provision is a liability of uncertain timing and amount. It is also presented in the statement of Financial Position and disclosed.
A contingent liability is an obligation that arises from past event and whose existence will be confirmed by the occurrence or non-occurrence of one or uncertain future events, not wholly within the control of the entity. Contingent liabilities are not recorded in Financial Statements but disclosed in the notes to financial statements.