Vincent runs a small company that manufactures hand-stitched custom leather shoes for men. His products generally attract young, wealthy entrepreneurs who care about their comfort and style. Being a unique business, it does not have much competition and enjoys monopoly. The opportunity of _____ is highlighted in the given scenario.
A. using technology
B. having lower overhead costs
C. exploiting market niches
D. providing homogenous service
Answer: C
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Grove Corp purchased equipment at a cost of $260,000 in January, 2012 . As of January 1, 2016, depreciation of $88,000 had been recorded on this asset. Depreciation expense for 2016 is $22,000 . After the adjustments are recorded and posted at December 31, 2016 . What are the balances for the Depreciation Expense and Accumulated Depreciation? Depreciation Expense Accumulated Depreciation
a. $ 22,000 $110,000 b. $ 22,000 $ 88,000 c. $110,000 $110,000 d. $110,000 $ 88,000
During May, Photo Mart sold 150 instant cameras for $100 each. Each camera had cost Photo Mart $69 to purchase and carried a one-year warranty. If 4 percent typically need to be replaced over the warranty period and two actually are replaced during May, the entry to record the Product Warranty Expense for the month is:
a. Product Warranty Expense 138 Estimated Product Warranty Liability 138 b. Product Warranty Expense 276 Cash 276 c. Product Warranty Expense 552 Cash 552 d. Product Warranty Expense 414 Estimated Product Warranty Liability 414
Which of the following information should a certificate of limited partnership contain?
A. the latest date of dissolution of the partnership B. a clause to not accept new general partners C. the name of the party who becomes a general partner in the event of transfer D. the scope of potential business opportunities and related investment
What does Clayton M. Christensen (1997) call the failure of successful companies to innovate, even when they have good management?
a. Catch 22 b. The Innovator’s Dilemma c. The Success Dilemma d. The Management Trap