On the education background, entrepreneurs:
A. cite formal education to be indispensible in starting a new business.
B. who lack a formal education, fail to create new businesses and exploit discovered opportunities.
C. cite an educational need in the areas of finance, strategic planning, marketing, and management.
D. are less educated than the general population.
Answer: C
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Ready Company has two operating (production) departments: Assembly and Painting. Assembly has 150 employees and occupies 44,000 square feet; Painting has 100 employees and occupies 36,000 square feet. Indirect factory expenses for the current period are as follows: Administration$80,000 Maintenance$100,000 Administration is allocated based on workers in each department; maintenance is allocated based on square footage. The total amount of indirect factory expenses that should be allocated to the Assembly Department for the current period is:
A. $110,000. B. $104,000. C. $48,000. D. $103,000. E. $55,000.
On January 1, Year 1, Milwaukee Company purchased Minneapolis Company, paying $1,200,000 cash. The fair value of Minneapolis' assets was $1,080,000, and it had liabilities of $100,000. The book value of Minneapolis' assets was $980,000.Required: a) Prepare Milwaukee's journal entry to record the acquisition of Minneapolis Company.b) At the end of Year 3, Milwaukee concluded that the value of its goodwill (associated with the acquisition of Minneapolis) had declined by $30,000. Prepare the journal entry to record this decrease in value.
What will be an ideal response?
Which of the following statements is true of an e-distributor?
A) An e-distributor offers fast delivery of a wide selection of products and services. B) An e-distributor provides products and services at high prices. C) An e-distributor offers services from different vendors in separate packages. D) An e-distributor is responsible for distributing a handheld catalog of products.
Thornbrough Corporation produces and sells a single product with the following characteristics: Per UnitPercent of SalesSelling price$220 100%Variable expenses 44 20%Contribution margin$176 80%The company is currently selling 7,000 units per month. Fixed expenses are $901,000 per month.The marketing manager would like to introduce sales commissions as an incentive for the sales staff. The marketing manager has proposed a commission of $11 per unit. In exchange, the sales staff would accept a decrease in their salaries of $65,000 per month. (This is the company's savings for the entire sales staff.) The marketing manager predicts that introducing this sales incentive would increase monthly sales by 300 units. What should be the overall effect on the company's monthly net
operating income of this change? A. decrease of $92,500 B. increase of $1,269,500 C. increase of $37,500 D. increase of $61,700