1. Unions have been in decline since the 1960s because of
Answer: <u>A. foreign competition.</u>
Explanation: Unions were often conducted in the past in order to protect workers from<em> "arbitrary decisions" </em>of employers. Such decisions resulted to the<em> laying off of workers </em>and<em> cutting of wages</em>. On the contrary, business owners have a different goal. They wanted to make more profit by cutting the wages, so they didn't like the unions. However, unions have been in decline in the 1960s, mainly because of international/foreign competitions. This is because the "bargaining power of the unions as they represent the employees were reduced."
2. When a bank evaluates a person for a loan, what does the word "capacity" refer to?
Answer: <u>C. The ability to make payments on time.</u>
Explanation: A bank evaluates a person for a loan according to his "capability to pay" the loaned amount. It is not according to his willingness to pay, but to his<em> "ability to return the money</em>." In order to know whether a person is capable of repaying the money on time, the bank analyzes the borrower's gross income and his debt.
Answer:
The correct answer is (A)
Explanation:
Soft drink manufacturing industry faces a high threat of substitutes. Not many soft drink brand exit the market but many new companies and brand enter. Similarly, that is the reason why prices of soft drink do not fluctuate as compare to other food items. The competitive environment in the soft drink industry creates a high threat of substitutes.
Answer:
Explanation:
In the income statement, the total revenues and the total expenses are recorded.
If the total revenues are more than the total expenditure then the company earns net income
And, If the total revenues are less than the total expenditure then the company have a net loss
This net income or net loss would reflect in the statement of the retained earning account.
The calculation is shown below:
= Net Sales + interest revenue- cost of good sold - administrative expense - selling expenses - interest expense - income tax expense
where,
Income tax expense = (Net Sales + interest revenue- cost of good sold - administrative expense - selling expenses - interest expense) × income tax rate
= ($2,409,400 + $38,100 - $1,463,800 - $222,000 - $286,700 - $48,900) × 30%
= $426,100 × 30%
= $127,830
The preparation of the income statement is presented in the spreadsheet. Kindly find the attachment below:
Answer: the answer is A. Yes.
Explanation:
Under a strict cash basis of accounting, revenues and expenses are recorded only when cash is received or paid. Under a modified cash basis of accounting, certain accruals and/or deferrals are recorded for financial-statement purposes.
The most common modifications are the capitalization and amortization of long-lived assets and the accrual for income taxes (recognition of income tax expense and related liability).
