Compare and contrast the social environment and the economic environment of a business
What will be an ideal response?
Answer: Social environment refers to the trends and forces in society at large. For instance, all companies are affected by population trends that change the composition of consumer markets and the workforce. The economic environment of a business consists of the conditions and forces that (a) affect the cost and availability of goods, services, and labor and (b) thereby shape the behavior of buyers and sellers. For example, a growing economy can help companies by increasing demand and supporting higher prices for their products, but it can also raise the costs of labor and the materials the companies need to do business.
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A boycott occurs when employers refuse to give their company's products free of cost to union members.
Answer the following statement true (T) or false (F)
Following is the year-end adjusted trial balance for Fred's Corner Grocery for the current year:
Prepare the closing entries at December 31 for the current year.
What will be an ideal response?
Jason, a golf pro, signed a one-year contract with the owner of a private country club as a golf instructor. Three months after Jason started work, the owner of the club sold out to Curry. The owner also assigned the remaining nine months of Jason's contract to Curry. Would Jason legally be required to work for Curry?
a. Yes, because a contract had been signed by Curry and the owner of the private club. b. Yes, because Jason had only nine months left on his contract. c. No, not unless Jason consented to the assignment. d. No, not unless the private club was willing to open its membership to the public.
The liquidation value per share of common stock is the amount per share of common stock that would be received if all of a firm's assets were sold for their accounting value and the proceeds remaining were divided among common stockholders
Indicate whether the statement is true or false