What is considered to be a key element in making a small, Web-based business successful?
What will be an ideal response?
Answer: Exploiting a niche by offering a unique product or service not easily available to potential customers can lay solid groundwork for a Web-based business idea.
Explanation: Exploiting a niche plays a key role in the success of any small business, but is particularly true for Web-based businesses.
You might also like to view...
Bohmker Corporation is introducing a new product whose direct materials cost is $25 per unit, direct labor cost is $13 per unit, variable manufacturing overhead is $9 per unit, and variable selling and administrative expense is $4 per unit. The annual fixed manufacturing overhead associated with the product is $18,000 and its annual fixed selling and administrative expense is $9,000. Management plans to produce and sell 1,000 units of the new product annually. The new product would require an investment of $110,500 and has a required return on investment of 10%. Management would like to set the selling price on a new product using the absorption costing approach to cost-plus pricing.Required:a. Determine the unit product cost for the new product.b. Determine the markup percentage on
absorption cost for the new product.c. Determine the selling price for the new product using the absorption costing approach. What will be an ideal response?
Under what circumstances is intrusion into someone's private life a tort?
A)under all circumstances based on the Fourth Amendment B)if a reasonable person would find it offensive C)only if it conflicts with the First Amendment D)only if the intrusion had been made public
An advantage of a sole proprietorship is that a business is very easy to form and dissolve because there is virtually no separation between the founder and the business.
Answer the following statement true (T) or false (F)
On January 1, 2017, Trevor bought 6% of Joseph Company's common stock for $20,000. During 2017, Joseph earned $6,000 of net income and distributed $4,400 of dividends. On January 1, 2018, Trevor bought an additional 35% of Joseph Company's common stock. The fair value of the Joseph shares owned by Trevor was $21,000 on December 31, 2017. The acquisition of the additional 35% of Joseph at the beginning of 2018 gave Trevor significant influence. ? Required: ? Prepare the appropriate entries for Trevor on January 1, 2018, as a result of the additional acquisition and change in ownership classification.
What will be an ideal response?