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2 years ago

List and briefly explain five activities for which a purchasing department normally has responsibility

1 answer:

4 0

They are in charge of controlling the inventory and finding proper storage for their products. They are in charge of determining quantity needs. They are the ones that deal with the suppliers, so they must maintain good relationships with them. They are the ones that select the suppliers and negotiate with them. They also are supposed to maintain records of their inventory.

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Xerox, the U.S. Postal Service, and McDonald's have enjoyed significant market power in the past. List and explain three major

Elena L [17]

Answer:

Correct Answer:

E. fewer substitutes are available because consumers are more sensitive to prices.

Explanation:

Market power is the ability of a company to successfully influence the pricing of its products or services in the overall marketplace. This is common among most big corporations that produces consumer goods and offer services.

This market power can be influenced by some factors. On the other-hand, the market power could be eroded leading to inability of the companies to influence prices do to the following:

1. Number of companies in the market: The lower the companies producing same product in the market, the higher the chances of the companies to be able to influence market prices. Otherwise, the market power will be eroded due to high number of companies.

2. Elasticity of demand: The persistent demand of a product by people helps to determine the market power of those companies. When this is lacking, the market power is eroded.

3. Product differentiation: The ability of a company to provide a unique product that offers good services in a market helps it to achieve market power. Lack of these erodes the market power.

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2 years ago

The adjusted trial balance for Yondel Company at December 31, 2018 is presented below: Accounts Debit Credit Cash $ 8,000 Prepai

e-lub [12.9K]

Answer:

Explanation:

Cash =8000

Prepaid rent = 23,000

Land = 445000

Accounts payable = 12,000

Salaries payable = 20,000

Retained earnings = 109,000

Dividends = 14,000

Service revenue = 340,000

Salaries expenses = 160,0000

Rent expenses = 29,000

Utilities expenses = 32,000

Net income = Service revenue - Salaries-Rent-Utilities-

=340,000-160,000-29,000-32,000 = 119,000

Journal

1. Debit Service revenue - 340,000

Credit income summary - 340,000

2, Debit Income summary - 221,000

Credit Salaries expenses 160,000

Credit Rent expenses 29,000

Credit Utilities expenses 32,000

3 Debit Income summary 119,000

Credit retained earnings 119,000

4 Debit retained earnings 14,000

Credit retained earnings 14,000

7 0

2 years ago

You have been working on a new entrepreneurial venture with a few friends for the past year. Everyone’s efforts are really start

brilliants [131]

Answer:

A. determining a few key ideas and how to best sequence them.

Explanation:

The effective communication is one in which the speaker is able to disseminate his ideas to the listener correctly. The panel of successful entrepreneur is interested in investing in the venture. The meeting is limited to 15 minutes so we should cover only key points and focus on their benefits of investing. The Entrepreneur has time to listen key ideas and its upon us to best sequence those ideas which leave a positive impact on the panel.

4 0

2 years ago

Mallory gets paid a set amount of money based on the time she puts in at her place of work. This amount of money is not tied to

Ahat [919]

Answer:

the time rate system

Explanation:

The wage payment system is divided into three major types:

Time rate: employees are paid on the basis of time, e.g. per hour, day or week. This payment system doesn't consider any type productivity factors. The main advantage of using this payment system is its simplicity: e.g. amount of hour worked x wage per hour = total salary.
Piece rate: employees are paid on the basis of quantity and quality of work performed (productivity).
Incentive wage: combination of the two prior systems, where employees are paid a fixed time rate plus a bonus or incentive pay depending on productivity.

8 0

2 years ago

Prof. Chaos finds a new house he wants to buy for $260,000. After selling his current house he expects to have $80,000 as a down

olchik [2.2K]

Answer:

The monthly payment will be for 259.35

Explanation:

we will calculate the couta for an ordinary annuity of 30 years at 4% discount rate

$PV \div \frac{1-(1+r)^{-time} }{rate} = C\\$

PV $180,000.00

time 360 (30 years x 12 months per year)

rate 4% divided into 12 months: 0.003333333

$180000 \div \frac{1-(1+0.003333)^{-360} }{0.003333} = C\\$

C $ 259.348

5 0

2 years ago