Almaden Hardware Store sells two product categories, tools and paint products. Information pertaining to its 2021 year-end inventory is as follows:
Inventory,by Product Category Quantity Per Unit Cost Net Realizable Value
Tools:
Hammers 120 $5.50 $6.00
Saws 250 10.50 9.50
Screwdrivers 350 2.50 3.10
Paint products:
1-gallon cans 550 6.50 5.50
Paint brushes 120 4.50 5.00
Required:
1. Determine the carrying value of inventory at year-end, assuming the lower of cost or net realizable value (LCNRV) rule is applied to (a) individual products, (b) product categories, and (c) total inventory.
2. Assuming inventory write-downs are common for Almaden, record any necessary year-end adjustment amount for each of the LCNRV applications in requirement 1.
Answers
Answer:
Product category units cost NRV year-end inventory
Tools:
Hammers 120 $5.50 $6.00 $660Saws 250 $10.50 $9.50 $2,375Screwdrivers 350 $2.50 $3.10 $875Paint products:
1-gallon cans 550 $6.50 $5.50 $3,025 Paint brushes 120 $4.50 $5.00 $5401) carrying value of year-end inventory:
Tools:
Hammers $660 Saws $2,375 Screwdrivers $875sub-total $3,910Paint products:
1-gallon cans $3,025Paint brushes $540sub-total $3,565Total $7,475
2) adjustment to tools:
Dr Cost of goods sold 250
Cr Inventory: tools 250
adjustment to paint products:
Dr Cost of goods sold 550
Cr Inventory: paint products 550
or total adjustment to inventory account:
Dr Cost of goods sold 800
Cr Inventory 800
Inventory is the part of current assets held by the business organization to perform their business operations. The inventory is the working current asset as it keeps on moving with the sale of goods. There are various methods to determine the value of inventory such as FIFO, LIFO, and many more.
1. The carrying value of the inventory at year-end is $7,475
It is computed in the image attached below.
2. The journal entries for the adjustment amount of the year-end for each LCNRV is attached in the image below:
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Related Questions
Transactions Simmons Consulting Co. has the following accounts in its ledger: Cash; Accounts Receivable; Supplies; Office Equipment; Accounts Payable; Michael Short, Capital; Michael Short, Drawing; Fees Earned; Rent Expense; Advertising Expense; Utilities Expense; Miscellaneous Expense.
Oct. 1. Paid rent for the month, $6,000.
3. Paid advertising expense, $3,820.
5. Paid cash for supplies, $1,640.
6. Purchased office equipment on account, $25,100.
10. Received cash from customers on account, $8,180
15. Paid creditors on account, $2,400.
27. Paid cash for miscellaneous expenses, $1,040,
30. Paid telephone bill (utility expense) for the month, $380.
31. Fees earned and billed to customers for the month, $54,500.
31. Paid electricity bill (utility expense) for the month, $650.
31. Withdrew cash for personal use, $4,100.
Journalize the selected transactions for October 2013. If an amount box does not require an entry, leave it blank.
20Y3 Oct. 1 Rent Expense 6,000
Cash
20Y3 Oct. 3 Advertising Expense 3,820
Cash
2013 Oct. 5 Supplies 1,640 20Y3
Cash
20Y3 Oct. 6 Office Equipment 25,100
Accounts Payable
20Y3 Oct. 10 Cash 8,180
Accounts Receivable
20Y3 Oct. 15 Accounts Payable
Cash
20Y3 Oct. 27 Miscellaneous Expense 1,040
Cash
20Y3 Oct. 30 Utilities Expense 380
Cash
20Y3 Oct. 31: Accounts Receivable
Fees Earned
20Y3 Oct. 31: Utilities Expense 650
Cash
2013 Oct. 31: Utilities Expense 650
Cash ID
20Y3 Oct. 31: Michael Short, Drawing
Cash
Answers
Answer:
Journal Entry
Date Account Title and Explanation Debit Credit
Oct 1 Rent expense $6,000
Cash $6,000
( Being rent paid in cash)
Oct 3 Advertising expense $3,820
Cash $3,820
(Being advertising expenses paid)
Oct 5 Supplies $1,640
Cash $1,640
(Being cash paid to suppliers)
Oct 6 Office equipment $25,100
Accounts Payable $25,100
(Being office equipment purchased on credit)
Oct 10 Cash $8,180
Account Receivable $8,180
(Being amount received from customers)
Oct 15 Accounts Payable $2,400
Cash $2,400
(Being amount paid to creditors)
Oct 27 Miscellaneous expense $1,040
Cash $1,040
(Being miscellaneous expenses paid)
Oct 30 Utility expense $380
Cash $380
(Being expenses paid in cash)
Oct 31 Account Receivable $54,500
Fee earned $54,500
(Being fee earned and charge to customers)
Oct 31 Electricity expense $650
Cash $650
(Being amount paid for electricity)
Oct 31 Michael short, Drawing $4,100
Cash $4,100
(Being amount paid for Micheal short)
Match the expense revenues with expenses recognition approaches with the most appropriate accounting event.
Cause-and-effect relationship
Cost of goods sold
Specific time period
Monthly salary payments to an office employee
Without regard to related revenue in the period incurred Advertising expenditures
Answers
Answer:
Cause-and-effect relationship - Cost of goods sold
With the Cause and effect relationship, costs are linked to the revenue that they were incurred for to create. Cost of goods would therefore be linked to revenue.
Specific time period - Monthly salary payments to an office employee
Costs are to be recognized in the same period of time they were incurred. The monthly salary is to be paid monthly because it is incurred monthly.
Without regard to related revenue in the period incurred - Advertising expenditures
The advertising costs will be incurred when spent and not when the benefits are accrued.
Should leadership be the manager's job or should leadership be a shared process?
Answers
Answer:
leadership be a shared process
Explanation:
Leadership may be defined as when a person leads to a particular group or a community. Leader always motivate to people for the purpose so that they can achieve the goal in a particular period of time. On the other hand an organization have always leader so that high authority gives responsibility to a leader for achieving the goal with the help of directing their employees.
Therefore leadership should be a shared process as leader need to corporate their employees.
In terms of the production possibilities curve, inefficiency is represented by:_________.
Answers
Answer:
The inefficiency is represented by any point that lies inside the curve.
Explanation:
In the case of the production possibility curve, the inefficiency is represented by any point that lies inside the curve. While the point on the curve shows the efficient combination or use and the point beyond or outside the curve exhibits that combination that cannot be achieved. Moreover, the point inside the PPF curve shows that the government or economy is not suing its resources efficiently and the efficient use of an economy can reach the optimal combination of production.
Co. was organized to sell a single product that carries a 45-day warranty against defects. Engineering estimates indicate that % of the units sold will prove defective and require an average repair cost of per unit. During 's first month of operations, total sales were units; by the end of the month, defective units had been repaired. The liability for product warranties at month-end should be
Answers
Answer:
$660 (credit balance)
Explanation:
the question is missing the numbers, so I looked for a similar one:
4% of units will be defectiveaverage repair cost of $201,100 units sold during the first month11 defective units were repairedThe journal entry to record warranty liability:
Dr Warranty expense 880
Cr Warranty liability 880
the journal entry to record actual money spent repairing defective units:
Dr Warranty liability 220
Cr Cash 220
the balance of the warranty liability account at the end of the month = $880 - $220 = $660
How much money should Timothy and Tiffany deposit annually for 20 years in order to provide an income of $30,000 per year for the next 10 years? Assume an interest rate is a constant 4%
Answers
Answer:
$8,171.37
Explanation:
first we must find the value of their account before they start receiving the distributions, (i.e. how much money they need to have in 20 years):
present value = annual payments x annuity factor
annual payments = $30,000annuity factor (PV, 4%, 10 periods) = 8.1109present value = $30,000 x 8.1109 = $234,327
now we need to calcualte the annual contribution in order to have $234,327 in 20 years:
future value = annual payment x annuity factor
annual payment = future value / annuity factor
future value = $234,327annuity factor (FV, 4%, 20 periods) = 29.778annual payment = $234,327 / 29.778 = $8,171.37
Answer: $8,171.44
Explanation:
The present value of the income of 10 years now is the future value of the payments in 20 years.
The present value is therefore;
= 30,000 * Present value of annuity interest factor, 4%, 10 years
= 30,000 * 8.111
= $243,330
As $243,330 is the future value of the payments in 20 years.
The payment is therefore;
243,330 = Payment * Future value of annuity interest factor, 4%, 20 years
243,330 = Payment * 29.7781
Payment = 243,330/29.7781
= $8,171.44
The key principle of supply chain management can be best summed up as ________ between multiple firms.
Answers
Answer:
Collaboration.
Explanation:
Supply chain management can be defined as the effective and efficient management of the flow of goods and services as well as all of the production processes involved in the transformation of raw materials into finished products that meet the insatiable want and need of the consumers. Generally, the supply chain management involves all the activities associated with planning, execution and supply of finished goods and services to the consumers.
The key principle of supply chain management can be best summed up as collaboration between multiple firms. These multiple firms include a company that is saddled with the responsibility of manufacturing, a wholesaler, and a retailer who typically sells the products to the customers or consumers.
Basically, these three (3) firms or individuals are required to collaborate with each other so as to meet the needs of the customers in a timely manner or fashion and at a fair price too.
Market segments are homogeneous in two ways: prospective buyers have common needs and theya. use traditional forms of media on a regular basis.b. are in the same income bracket.c. are likely to be open to brand-switching.d. can be convinced to share common wants.e. will respond similarly to marketing action.
Answers
Answer:
Will Respond Similarly to marketing action
Explanation:
Market segmentation is the process by which customers are grouped based on shared characteristics, so that products can effectively be tailored to meet their needs.
Market segments therefore tend to have common needs and will respond in a similar way to market action.
Market segmentation is used by businesses to identify groups that will behave in a predictable manner to promotional efforts of the company.
This ensures accurate forecast of projected sales by the company.
Suppose the exchange rate for the swiss franc is quoted as SF 1.10 in the spot market and SF 1.13 in the 90-day forward market. Does the financial market expect the franc to strengthen or weaken relative to the dollar?
Answers
Answer:
The franc is expected to depreciate relative to the dollar, because it will take more francs to buy one dollar in the future than it does today.
Explanation:
Here it is mentioned that
Swiss Franc is quoted SF 1.10 in the spot market
SF 1.13 in 90 days forward market
Based on the above information
Here the franc approximate that it would be depreciation with respect to the dollar as it considered more francs to purchased in near future as compared with today
Therefore the same is to be considered
Randy Inc. produces and sells tablets. The company incurred the following costs for the May:
Advertising cost for monthly television ads $ 6,600
Attachable keyboard 20,600
Insurance for delivery truck 660
Factory supervisor's salary 3,750
Marketing manager's salary 3,450
Assembly worker wages 28,000
Miscellaneous soldering material used to seal case 1,250
Hourly wages for factory security guard 2,400
CEO's salary 7,800
Speakers 5,400
Required:
Determine each of the following:
1. Direct Material
2. Direct Labor
3. Manufacturing Overhead
4. Total Manufacturing Cost
5. Total Period Cost
6. Total Variable Cost
7. Total Fixed Cost
Answers
Answer:
Please calculations below
Explanation:
1. Direct material is a material cost that can be traced to production unit ; which consist of the below.
Speakers + Attachable keyboard
5,400 + 20,600
= $26,000
2. Direct labor is a cost identified with wages paid to labourers who manufactures products. It is made up of the below.
Assembly worker wages $28,000
3. Manufacturing overhead refers to costs that are not direct in nature but are incurred for the production of goods and services.
Hourly wages for factory security guard + Factory supervisory salary
= 2,400 + 3,750
= $6,150
4. Total manufacturing cost refers to all costs incurred during production f goods and services.
Hourly wages for factory security guard + Attachable keyboards + assembly worker wages + speakers + factory supervisor salary
= 2,400 + 20,600 + 28,000 + 5,400 + 6,150
= $62,550
5 Total period cost are costs not traced or identified with the whole production flow.
Advertising cost for monthly television add + insurance for delivery truck + factory supervisor salary + marketing manager's salary + CEO's salary
= 6,600 + 660 + 3,750 + 3,450 + 7,800
= $22,260
6.Total variable cost refers to costs that vary with the level of output.
It consist of the items below.
Attachable keyboards + assembly worker wages + miscellaneous soldering material used to seal case + hourly wages for factory security guard + speakers
= 20,600 + 28,000 + 1,250 + 2,400 + 5,400
= $57,650
7.Total fixed cost refers to costs that do vary with output level. It is made up of the items below.
Advertising cost + insurance for delivery cost + factory supervisor salary + marketing manager's salary + CEO salary
= 6,600 + 660 + 3,750 + 3,450 + 7,800
=$22,260
What is the importance of the Define Phase in terms of its placement in the DMAIC method?
a. It provides the data collection prior to data analysis
b. It clarifies the problem, the process and the customer of the process prior to data collection
c. It provides monitoring of the solution in order to sustain the gains
d. It takes the data and process analysis into account in order to develop solutions
Answers
Answer:
b. It clarifies the problem, the process and the customer of the process prior to data collection
Explanation:
DMAIC is an acronym for various phases in carrying out projects and they are Define, Measure, Analyze, Improve, Control.
The Define phase is widely known as the primary phase of DMAIC which is characterized by the project agreement, customer demands and requirements, and process operation strategy.
Hence, the importance of the Define Phase in terms of its placement in the DMAIC method is that " it clarifies the problem, the process and the customer of the process prior to data collection"
Each time a state legislature enacts a law that applies the assumption of risk doctrine to a particular sport, participants in that sport suffer. Fully explain your position and what this statement means to you?
Answers
Answer and Explanation:
The assumption of risk doctrine in law is the idea that a person who would normally compensate a victim for damages such as accident injuries would not under this doctrine since it is of the view that risk of loss in the case of injury in sports will not be compensated for by the person who caused such injury.
From the question, this would make people who participate in the sports which has assumption of risk doctrine suffer because there would be no compensation to any victims of injury by the person who caused the injury
A savings account earns 8% interest. If $1,000 is invested, how many years is it until each of the following amounts is on deposit?a. $1,360b. $2,720c. $4,316d. $6,848
Answers
Answer:
a. 4 years
b. 19 years
c. 19 years
d. 25 years
Explanation:
The number of years, n is calculated for each future value as follows :
a. $1,360
Pv = - $1,000
Pmt = $ 0
P/y = 1
r = 8 %
Fv = $1,360
n = ?
Using a Financial Calculator, the number of years, n is 3.9953 or 4 years
b. $2,720
Pv = - $1,000
Pmt = $ 0
P/y = 1
r = 8 %
Fv = $2,720
n = ?
Using a Financial Calculator, the number of years, n is 13.00 or 13 years
c. $4,316
Pv = - $1,000
Pmt = $ 0
P/y = 1
r = 8 %
Fv = $4,316
n = ?
Using a Financial Calculator, the number of years, n is 19.00 or 19 years
d. $6,848
Pv = - $1,000
Pmt = $ 0
P/y = 1
r = 8 %
Fv = $6,848
n = ?
Using a Financial Calculator, the number of years, n is 24.9991 or 25 years
Valuing assets at their liquidation values rather than their cost is consistent with the:_______A. Historical cost principle B. Periodicity assumption C. Expense recognition principle D. None of the above
Answers
Answer:
D. None of the above
Explanation:
The historical cost principle refers to that principle in which the asset should be recorded at the purchased price
The periodicity assumption refers to a period in which the period is divided i.e. weeks, monthly, quarterly, semi annually, yearly, etc
And, the expense recognition principle refers to that principle in which the expenses should be recognized in that year in which they are incurred along with it, the revenues are also recognized in which they are earned
Hence, the correct option is D. none of the above
Arbitrage is the purchase of assets or commodities on one market for immediate resale on another in order to profit form a price discrepancy.
A. True
B. False
Answers
Answer:
A. True
Explanation:
Arbitrage is a term that describes an activity or operation of making transactions of any of securities, currency, or commodities in various markets. The main purpose is to derive benefits or gets profits from the varying prices of those commodities and assets when resold.
Hence, it is TRUE that Arbitrage is the purchase of assets or commodities on one market for immediate resale on another in order to profit form a price discrepancy.
To realize his passion,Alex recently opened Original Tunes,Inc. ,a small state of the art recording studio in Nashville,TN.He probably could have set-up shop in several major cities,but Nashville offered him the two most important factors that he learned in business school would enhance the creation of wealth: labor and political freedom.
a. True
b. False
Answers
Answer:
a. True
Explanation:
Indeed, we could rightly say the statement is true by remembering the four key factors of production (business):
capital (wealth)laborresourcesentrepreneur.Labor is part of the list of important factors and political freedom allows the entrepreneur to sucessfully manage business activities.
Yolo Windows, a manufacturer of windows for commercial buildings, reports the following account information for last year (all costs are in thousands of dollars):
Information on January 1 (Beginning):
Direct materials inventory $ 36
Work-in-process inventory 48
Finished goods inventory 656
Information for the year:
Administrative costs $ 1,440
Direct labor 4,240
Direct materials purchases 3,280
Factory and machine depreciation 4,640
Factory supervision 840
Factory utilities 360
Indirect factory labor 1,120
Indirect materials and supplies 280
Marketing costs 600
Property taxes on factory 112
Sales revenue 18,160
Information on December 31 (Ending):
Direct materials inventory $ 32
Work-in-process inventory 56
Finished goods inventory 588
Required:
Prepare an income statement with a supporting cost of goods sold statement. (Enter your answers in thousands of dollars (i.e., 234,000 should be entered as 234).)
Answers
Answer:
Income Statement
Sales Revenue $ 18,160
Less Cost of Goods Sold ($14,936)
Gross Profit $3,224
Less Expenses :
Administrative costs $ 1,440
Marketing costs $ 600 ($2,040)
Net Income / (Loss) $ 1,184
Explanation:
Cost of Goods Sold Statement
Beginning Finished goods inventory $ 656
Add Cost of Goods Manufactured $ 14,868
Less Ending Finished goods inventory ($ 588)
Cost of Goods Sold $14,936
Cost of Goods Manufactured
Direct Materials ($ 36 + $ 3,280 - $ 32) $3,284
Direct labor $ 4,240
Factory and machine depreciation $ 4,640
Factory supervision $ 840
Factory utilities $ 360
Indirect factory labor $ 1,120
Indirect materials and supplies $ 280
Property taxes on factory $ 112
Add Beginning Work-in-process inventory $ 48
Less Ending Work-in-process inventory ($ 56)
Cost of Goods Manufactured $14,868
Isabella works on a team of one attorney, three
paralegals, and two secretaries. They defend product liability cases brought against their employer, a
medical-device manufacturer.
Answers
Answer: Corporation
Explanation:
Paralegals are what you would call legal assistants. Even though they are not called to the bar, they posses legal knowledge that helps them give support to lawyers, corporations, and even Governmental agencies.
As shown from the definition, paralegals can work for various types of employers including lawyers, corporations, Government agencies and sometimes even courts if they freelance. In this scenario, Isabella works for a medical-device manufacturer and so Isabella's employer is a Corporation.
In order to be strategic when participating in the recruiting process, HR professionals must:______.
Answers
Answer:
understand the labor market
Explanation:
To understand the labor market is to have vast knowledge in the following areas of labor market amongst others:
1. the availability of competent employees in the area of specialization that needs to be filled.
2. the average salary for each role
3. the average working hours
4. commonly preferred skills and certifications required.
Hence, In order to be strategic when participating in the recruiting process, HR professionals must: "understand the labor market"
The distinguishing feature of economic capital (as opposed to financial capital, like money) is that it is:__________. a. expensive. b. profitable. c. productive.
Answers
Answer:
C. Productive
Explanation:
The distinguishing feature of economic capital (as opposed to financial capital, like money) is that it is productive. Thus, option 'C' is the correct option.
What is economic capital?Economic capital is the sum of money employed by a company to safeguard itself against risk, its effects, and any losses brought on by unanticipated risk. It is a gauge of a company's solvency. Economic capital is thought of as a way for a company to protect itself against risks related to its operations, legislative changes, economic factors, and market volatility.
Economic capital determines a firm's operational and market risks. In many cases, the anticipated risk is transformed into capital, which provides a clear picture of a firm's solvency. Capital in finance is frequently described in monetary terms. Financial capital is made up of two parts: debt and equity. The debt-to-equity ratio indicates a company's financial health.
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Suppose you take a short position of 1 million USD in the USD- MXN at 22.4015. What is the flow of MXN in your accounts
Answers
Answer:
22,401,500 MXN exit from account
Explanation:
Given:
MXN at 22.4015
Amount = $1,000,000
MXN at short position
Find:
Flow of MXN
Computation:
MXN at short position so, flow is exit
MXN exit = 1,000,000 × 22.4015 )
22,401,500 MXN exit from account
For most high-income countries of the world, GDP _________________ over time.
Answers
Answer:
For most high-income countries of the world, GDP HAS INCREASED GRADUALLY over time.
Explanation:
Both GDP and GDP per capita has increased for almost all high income countries. Actually the only country in the world that was once rich and had a very high GDP and GDP per capita that turned into a developing country (AKA poor country) is Argentina. It is a unique case in all the world, since Argentina had the highest GDP per capita for 2 years (1895 and 1896) and continued to have a relatively high GDP per capita more than 60 years. Then political turmoil and corruption resulting in it falling from number one spot to number 73.
Angelina is hired to work for Pupco Inc. for two years. Which of the following is true?A. Angelina has the right to quit after six months.
B. Pupco has the right to fire Angelina after six months.
C. Pupco has the power to fire Angelina after six months.
D. Two of these. E. None of these.
Answers
Answer:
B. Pupco has the right to fire Angelina after six months.
Explanation:
Angelina as the employee, can decide when to quit freely and Pupco as the employer cannot force her to keep working. Depending on specific clauses, Angelina might have to give a 1 or 2 weeks notice that she is quitting, but ultimately she can quit whenever she wants. The same does not apply to the employer, which cannot fire Angelina immediately or if she does, Pupco will have to pay her normal wages as if she had worked during a minimum amount of time. Laws generally protect the least powerful party and in a labor relationship, the employee is the least powerful party.
Citizens are allowed to act in their own self-interest when given __________. A. job security B. political stability C. economic freedom D. government restrictions
Answers
Answer:
c
Explanation:
Answer:
C.Job security
Explanation:
did the quiz edge 2020
Pros and cons of working in the food service industry???
Answers
Answer: Yes and No
Explanation: Pros: You can own your own. Get to be the boss. Get a lot of money. Get to have fun.
Cons: You can have the lowest paycheck. Worst job for it.
A college student determines that he will have only $200 per month available for his housing for the coming semester. He is determined to continue in the university, so he has decided to list all feasible alternatives for housing.Required:List five feasible alternatives.
Answers
Answer:
Following are the description of the given points:
Explanation:
He needs to seek temporary accommodation, even so, he must not be too much further away from family, or else the costs of the trip would recompense its cheap housing. He needs to purchase a few of his blogs, which might not be used in the long term, like clothing, teaching materials not being used, etc. He can also start taking a bank loan. He may ask the college authorities to waive his college fees to some degree or provide free lodging because he's such a college. They can always take loans through school friends but I feel it's the most convenient option, so once you have extra cash, you could refund it.ustine was interested in learning how to play the piano. She has been playing some basic songs, but still gets a lot of help from her teacher. What stage of ability development is Justine at? a. Novice b. Apprentice c. Master d. Mentor
Answers
Answer is Apprentice.
Explanation: The definition of an apprentice is someone who provides help to a skilled worker in order to learn the trade himself. Justine is being trained by a skilled pianist. Thus, brings us to the conclusion that Justine is in the state of an apprentice.
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Mr. and Mrs. Perry own three personal residences, all of which are subject to an acquisition mortgage. The mortgage on the first residence is $290,000, the mortgage on the second residence is $400,000, and the mortgage on the third residence is $357,000. Which of the following statements is true?
A. Mr. and Mrs. Perry can report an itemized deduction for the interest paid on all three mortgages.
B. The Perrys’ itemized deduction is limited to the interest on $1 million of their acquisition debt.
C. The Perrys’ itemized deduction is limited to the interest on the $400,000 mortgage.
D. None of the statements is true.
Answers
Answer: D. None of the statements is true.
Explanation:
When multiple residences are owned, tax laws indicate that itemized deductions for interest paid on mortgages are limited to the mortgages of 2 residences alone being the primary residence and any other residence that will be chosen as the second residence in the tax year.
As such, all the options are wrong as they would be limited to itemized deductions on mortgage interest for;
= $290,000 + $400,000
= $690,000 being the first 2 residences
Deon is VP of marketing with a major beverage company and is reviewing the contracts of several film, media, and television personalities who work with the company. Recently, two of them were involved in controversial activities concerning their political beliefs and have been quite vocal regarding several social justice issues. Deon is considering canceling their contracts because it is difficult to establish that their personal views are not the views of his company. Which exchange criteria most directly relates to Deon's cancellation of these sponsorships
Answers
Question Completion:
Options:
a. There must be at least two parties.
b. Each party is free to accept or reject the exchange offer.
c. Each party believes it is appropriate or desirable to deal with the other party.
d. Each party has something that might be of value to the other party.
Answer:
c. Each party believes it is appropriate or desirable to deal with the other party.
Explanation:
Criteria C is the criteria that will most directly relate to Deon's cancellation of the sponsorships. Business deals and relationships cannot be established or allowed to subsist when it becomes inappropriate or undesirable to deal with the other party because of controversial activities. This is more so when the activities involve political and social justice beliefs and differences. Ordinarily, business partners should not allow such personal prejudices to becloud their relationships. The best approach, therefore, is for business partners to keep their political and social justice beliefs personal and not make them public issues.
Business ethics week 8 assignment 4