Flexibility is an important concept in process design, as it is the ability to quickly adapt to changing customer demands or preferences.
This is especially important in today’s rapidly changing market, where customer tastes are constantly shifting and product cycles are becoming shorter.
Flexibility can be achieved through a variety of methods, including the use of modular production systems, the ability to switch between different production processes, and the ability to quickly respond to new customer requests.
By having the flexibility to quickly adjust to changing customer preferences, businesses can remain competitive and better meet customer needs. Additionally, flexibility can help reduce costs by allowing businesses to more easily adjust to changes in production demand.
In this way, businesses can save money by not having to invest in new equipment or processes for every new customer demand. By incorporating flexibility into process design, businesses can better respond to customer needs and remain competitive in today’s ever-changing market.
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As PlastiPharm’s business has expanded, the company has built a new addition and added new equipment. Each machine has the capacity to monitor the heat of the raw materials as they go through the machine – maintaining a temperate of 370 degrees, plus or minus ten degrees. If the temperate fluctuates beyond those parameters, the machine shuts down, and floor technicians address the issue and adjust ensure quality is maintained in the product. In addition, 100 percent of all products are visually inspected for defects. Why does PlastiPharm take such great efforts to ensure its products meet industry standards and customers’ needs?
The PlastiPharm take great efforts to ensure its products meet industry standards and customers’ needs because fulfilling the customer need and providing the customers good quality produce is one of the long-term goal of the industry.
What is an industry?An industry refers to a group of enterprises or companies or businesses in the market. An industry provides and services to the customers in the market.
The terms industry and sector are often used interchangeably to describe a group of companies that operate in the same segment of the economy or share a similar business type.
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imagine that a country has 870.2 million people employed, 60 million people unemployed, 12 million people in prison, and 30 million people younger than age 16. what is the country's unemployment rate?
6.45 percent is the country's unemployment rate.
When expressed as a percentage of the labor force, the unemployment rate shows how many individuals are unemployed (the labor force is the sum of the employed and unemployed). By multiplying (Unemployed Labor Force) by 100, one may find the unemployment rate.
What equation is used to get the labor force participation rate?The labor force is divided by the total population of people who are working-age to determine the labor force participation rates. Ages 15 to 64 are considered to be the working age population. The percentage of each age group is used to calculate this indicator, which is split down by age.
1946 to 1964. Consider a nation where there are 870.2 million people in employment, 60 million people without jobs, 12 million people incarcerated, and 30 million children under the age of 16. How much unemployment is there in the nation? [60 + 870.2] 100 = 6.45 percent.
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A perceived or real incompatibility of goals, values, expectations, or processes between two or more interdependent parties is known as
The incompatibility of goals, values, and expectations between two individuals or groups which are interdependent on each other is known as conflict.
What is interdependence?Interdependence is the characteristic of an individual or group where one is dependent on the other. This could be seen in one's family where children are interdependent on their parents.
Conflict arises between two parties when one party is against the other party or when the aims, values, and expectations of one person don't match or clashed with the other person. It could generally be observed in those parties which are interdependent on one another.
Therefore, conflict happens between interdependent parties when the goals, values, and expectations are different.
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3.5. In a public limited company, the losses are
borne by the
(A) staff
(B) directors
(C) community
(D) shareholders
Answer: D
Explanation: Had this test before
Answer:
d
Explanation:
]
The formula for using monthly advertising expenditure to predict monthly sales revenue for a certain company is Y' = 1.81X + 5843 (all values in dollars). This indicates that a. the company is wasting money on advertising b. 5843 is spent on advertising each month c. each dollar spent on advertising increases revenue by $1.81 d. spending 5843 dollar on advertising increases sales by a factor of 2
The correct answer is c. Each dollar spent on advertising increases revenue by $1.81.
In the given formula, Y' represents the predicted monthly sales revenue, X represents the monthly advertising expenditure, 1.81 is the coefficient of X, and 5843 is a constant term.
The coefficient of X (1.81) indicates the relationship between the advertising expenditure and the predicted sales revenue. In this case, for each dollar spent on advertising (X), the predicted sales revenue (Y') increases by $1.81. Therefore, option c is the correct answer.
Option a is incorrect because the formula does not suggest that the company is wasting money on advertising. Option b is incorrect because 5843 is not the amount spent on advertising each month but rather a constant term in the formula. Option d is incorrect because the formula does not provide information about the specific effect of spending $5843 on advertising.
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An extended introduction stage of the product life cycle occurs for which type of product?
high learning
low learning
fashion
fad
primary
Because consumers must be thoroughly educated about the offering, high-learning products have lengthy introduction stages.
What do you mean by product life cycle?The product life cycle's initial phase is represented by this. The first step after a product's creation is to introduce it to the market. The product is initially released onto the market at this phase.
A business's response when it realises a product is approaching the recession of a product lifecycle is known as an extension strategy. By preserving a product's maturation state, these steps seek to lengthen its shelf life and should boost sales.
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What is the best source of information to use when purchasing a new car?
Exercise methodology includes which of the following exercise cycle components? A. Planning Meeting, Design and Development, Engaging elected/appointed officials, and Conduct. B. Evaluation, Design and Development, Engaging elected/appointed officials, and Planning Meeting. C. Evaluation, Design and Development, Engaging elected/appointed officials, and Conduct. D. Evaluation, Design and Development, Improvement Planning, and Conduct.
The components of the exercise methodology, which are evaluation, design and development, engaging elected/appointed officials, and conduct.
What are the components of exercise methodology?Sure! The exercise methodology includes the following components:
Evaluation: This component involves assessing the exercise objectives, identifying the scope and scale of the exercise, and determining the desired outcomes. It may include conducting a needs assessment and setting performance indicators.
Design and Development: In this component, the exercise scenario is created, along with supporting materials such as exercise plans, scripts, and simulations. The design and development phase also includes defining the exercise timeline, logistics, and resource requirements.
Engaging elected/appointed officials: This component focuses on involving relevant stakeholders, such as elected officials, appointed leaders, or subject matter experts, in the exercise process. Their participation and input can enhance the exercise's realism and effectiveness.
Conduct: The conduct component involves executing the exercise according to the predetermined plans and timeline. This includes implementing the scenario, facilitating participant engagement, and ensuring the smooth running of the exercise. It may also involve the use of technology, simulations, or role-playing to simulate real-life situations.
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If a company receives $11,400 from a client for services provided, the effect on the accounting equation would be:________
If a company receives $11,400 from a client for services provided, the effect on the accounting equation would be: increase in assets and equity
What is accounting equation?
The accounting equation indicates that all assets of a company are financed from equity and liabilities, in essence, total assets are the same as the sum of equity and liabilities
assets=equity+ liabilities
A receipt of $11,400 for services provided would impact assets, in that cash would increase, which means assets would increase by $11,400 and also on the premise that such services were provided for cash, the sales revenue which flows into equity would also increase.
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Sales tax is calculated by multiplying the price of an item by the
withholding amount
income tax
tax rate
Answer:
tax rate
Explanation:
got it right on test
As the number of multinational corporations increases, we are experiencing international ethical dilemmas. one very real concern during the past decade is the human rights abuses in sweatshops where several multinationals contract manufacture their products, in exchange for cheap labor. s
Answer: A) Multinationals must subjectively determine the local "living wage," which is usually more than the local legal wage in developing countries. Customers surveyed say they are willing to pay a few dollars more to improve working conditions in sweatshops.
Explanation:
Developing countries are notorious for setting low legal minimum wages in order to attract foreign investment and also because such countries have lower standards of living.
For Multinationals to improve conditions therefore, they would have to independently determine a living wage that they could pay such workers to alleviate their conditions and this effort would be taxing because Multinationals are not on ground to conduct proper research.
A silver lining is that customers surveyed say they are willing to pay extra if conditions in sweat shops would improve.
Full question is;
As the number of multinational corporations increases, we are experiencing international ethical dilemmas. One very real concern during the past decade is the human rights abuses in sweatshops where several multinationals contract manufacture their products, in exchange for cheap labor. Several retailers have banned together to set ethical standards in foreign factories. Which of the following statements summarizes the challenges of companies doing business in developing countries and the concerns of their customers?
A) Multinationals must subjectively determine the local "living wage," which is usually more than the local legal wage in developing countries. Customers surveyed say they are willing to pay a few dollars more to improve working conditions in sweatshops.
B) Economically sensitive customers want companies to pass along cost savings to them, at all costs, even if the products are made through offshore outsourcing. Companies want to please customers, first!
C) Most multinational corporations have made no attempt to improve working standards at sweatshop factories. They will turn a blind eye to the problem unless U.S. law is passed to force the issue. Customers understand that legal limits come before ethical standards.
D) Multinationals cannot be expected to demand socially responsible behavior from their supplier, including foreign sweatshops. When doing business abroad, the U.S. company need not comply with U.S. law when its supplier(s) is not in the U.S. or on U.S. territory.
Determine if the items represent an example of positive economics or normative economics. The richest 1 % of Americans should pay more taxes than the
Answer:
The correct choice will be "Normative Economics ".
Explanation:
Normative economics explores how well and why the economy could or ought to have been instead of what it truly is or was, proposing measures to boost public wellbeing. Normative implies related to or relying on what is perceived to have been the right or natural way of doing anything, an appropriate standard or pattern.What is the difference between exempt and nonexempt jobs?
Advances in technology like the creation of cheap, lightweight laptops has allowed workers to work from almost anywhere. Please select the best answer from the choices provided T F.
Answer:
Got this from the same website you used
Explanation:
Advances in technology like the creation of cheap, lightweight laptops have allowed workers to work from almost anywhere. TRUE.
The advancement in communication, transportation, etc. increases the performance and productivity of an employee. The creation of cheap, lightweight laptops has allowed workers to work anytime and anywhere.
What is Technology advancement?Technology advancement means the ease of doing things and improving all the aspects of human lives.
Advancements in technology made life easier by increasing employee productivity, performance, and satisfaction. The creation of cheap, lightweight laptops has allowed workers to work flexibly and efficiently.
Therefore, the above statement is True.
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Which investment advice would Gale most likely give to Alex? Invest in stocks because they are less risky. Put most of your money in a savings account instead. Spread your investments in several different areas. Stick with the stocks because they will bounce back.
Investment advice is the advice given by consultants or consultancy firms holding special expertise in the field of securities market to the individual investors.
Investment DecisionTheir is a very popular quote in the investment market that "do not put all your funds in a single security " and put your funds in different securities so that loss of a security is set-off with the gains of other security.
Therefore , the investment advice most likely Gale would give to Alex will be "Spread your investments in several different areas" and OPTION C is correct.
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Answer:
c
Explanation:
To increase tax revenue, the us government in 1932 imposed a 2 cent tax on checks written on bank account deposits (in today's dollars, this tax would amount to about 34 cents per check.)
a. How do you think the check tax affected the currency-deposit ratio? Explain
b. Use the model of the money supply under fractional-reserve banking to discuss how this tax affected the money supply
c. Many economist believe that a falling money supply was in part responsible for the severity of the great depression of the 1930s. From this perspective, was the check tax a good policy to implement in the middle of the great depression?
Answer:
A) by introducing the check tax, the government actually made the people use more cash and less checks in order to avoid paying the tax. This lead to an increase in the currency deposit ratio, which means that people have more cash and less money deposited in the banks.
B) since the currency deposit ration increased, banks had less money to borrow, which in turn decreased the money multiplier and the banks' ability to create money.
C) carrying out this policy was like engaging in a contractionary monetary policy which was a terrible idea. The government should have done the opposite and expand the money supply and the banks' ability to create money in order to boost economic growth.
which of the following will definitely increase equilibrium quantity?
Changes in consumer preferences, decreases in production costs, increases in income, and improvements in technology can all increase the equilibrium quantity of a good or service.
In economics, equilibrium quantity refers to the quantity of a good or service that is produced and consumed when the demand and supply are in balance. Several factors can increase the equilibrium quantity:
Changes in consumer preferences: When consumer preferences for a particular good or service increase, the demand for that good or service will increase, leading to an increase in the equilibrium quantity.Decreases in production costs: If production costs decrease, producers can supply more of the good or service at each price level, resulting in an increase in the equilibrium quantity.Increases in income: An increase in income can lead to an increase in the demand for certain goods or services, thereby increasing the equilibrium quantity.Improvements in technology: Advancements in technology can improve production efficiency, allowing producers to supply more of the good or service, leading to an increase in the equilibrium quantity.Learn more:About increase equilibrium quantity here:
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Dorothy visits a lawyer and walks out with advice about how to prepare her will. While she walks out of the meeting without anything in hand, she is pleased with what she learned. This is an example of a product that is _____.
"Dorothy visits a lawyer and walks out with advice about how to prepare her will. While she walks out of the meeting without anything in hand, she is pleased with what she learned. This is an example of a product that is intangible."
In the given scenario, Dorothy visits a lawyer and receives advice on how to prepare her will. The advice provided by the lawyer is an intangible product since it cannot be touched, felt or seen. Although Dorothy does not walk out of the meeting with a physical item, she is satisfied with the knowledge gained from the lawyer.
Intangible products are those that cannot be physically held, but they still provide value to the consumer. Examples of intangible products include services, ideas, experiences, and knowledge. In this case, the lawyer's advice is a service that provides Dorothy with knowledge and guidance on how to prepare her will, which is a valuable intangible product for her.
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Select the correct answer.
Which statistical concept signifies the average of all the variations from the mean?
A.
comparative mean
B.
constant mode
C.
standard deviation
D.
average deviation
Answer:
option D average deviation is correct
Explanation:
average deviation tells average of variation from the mean
Answer:
C standard deviation
Explanation:
plato also states in the notes that standard is correct and internet checks with me
shark tank assignments (individual) i would like for you to view episodes of ‘shark tank’ and select two businesses (one that was financed and one that wasn’t financed. the two businesses can be from a single episode or different episodes of shark tank) and investigate about the following: 1) what types of businesses were requesting financing, 2) how did they arrive at their valuation (make sure to calculate the value of the business based on how much the owners are willing to give up of the company in relation to the amount of cash the business is expected to generate), 3) did you notice any recurring questions asked by the sharks, 4) what were the primary reasons for rejecting a business and what were the reasons given to finance a business, 5) offer some other insights (what did you find interesting, shocking, intriguing….) about what you learned from listening to pitches from the participants and comments from the sharks. most importantly, finish your right up with some suggestions to the business that did not get the financing and some suggestions to grow for the business that was financed by the sharks.
Let's proceed with a hypothetical scenario based on the format of the show.
Types of businesses requesting financing:
On "Shark Tank," a wide variety of businesses seek financing. They can range from product-based companies (e.g., consumer goods, innovative gadgets) to service-based ventures (e.g., technology platforms, consulting services). Some examples could include food and beverage companies, fashion brands, technology startups, and innovative inventions.
Arriving at valuation:
Valuation in "Shark Tank" is often a negotiation between the entrepreneurs and the sharks. Entrepreneurs typically present their valuation based on their perceived worth of the business and its potential for growth. The valuation may take into account factors such as revenue, market size, intellectual property, growth potential, and competitive landscape. The sharks assess the value proposition and negotiate terms based on their expertise and the potential return on investment.
Recurring questions asked by the sharks:
The sharks often ask questions to gain a deeper understanding of the business, its market potential, and the entrepreneur's strategy. Some common recurring questions include inquiries about sales figures, profit margins, scalability, distribution channels, marketing efforts, intellectual property protection, competition analysis, and exit strategies.
Reasons for rejecting or financing a business:
The primary reasons for rejecting a business on "Shark Tank" can vary but often include concerns about the business model, lack of differentiation, limited market potential, excessive valuation, weak sales figures, or doubts about the entrepreneur's ability to execute the proposed plan. On the other hand, reasons for financing a business may involve strong market potential, innovative product/service, significant growth prospects, and the entrepreneur's track record and passion.
Insights and suggestions:
From listening to pitches on "Shark Tank," it is fascinating to see the diversity of entrepreneurial ideas and the negotiation dynamics between the entrepreneurs and the sharks. One key lesson is the importance of thoroughly understanding the market, competition, and financials of a business before seeking funding. It is crucial for entrepreneurs to clearly articulate their value proposition, demonstrate sales traction, and be open to feedback and negotiation.
For the business that did not get financing, suggestions for growth could include revisiting the business model, refining the value proposition, exploring additional revenue streams, strengthening marketing and sales strategies, and considering partnerships or alternative funding sources.
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A logical fallacy using something as proof or evidence that should not simply be assumed/ the evidence requires more proof, is considered _____.
A logical fallacy using something as proof or evidence that should not simply be assumed/ the evidence requires more proof, is considered Begging the Question.
What is proof?
A proof is adequate support for a claim, such as sufficient evidence or even a compelling argument. The idea is applicable to a wide range of disciplines, with each field having its own requirements for what constitutes sufficient evidence. A proof is indeed a persuasive perlocutionary verbal that establishes the veracity of a proposition in the context of oral as well as written communication, such as conversation, dialogue, rhetoric, etc. A proof is an argument that establishes a theorem of a particular area of mathematics using accepted rules of inference starting from such axioms as well as from other previously established theorems, in just about any area of mathematics characterised by its assumptions or axioms. The idea of a formal proof is formalised and studied in the field of logic, particularly proof theory.
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Which of the following is a normative statement? Select one: a. The elimination of trade restrictions would increase an economy's standard of living. b. Gasoline prices ought to be lower than they are now. c. In response to the most recent recession, the federal government extended the duration of unemployment benefits. d. A decrease in the minimum wage would decrease unemployment. 16) Which of the following statements is true? Select one: a. Economists use one standard set of assumptions to answer all economic questions. b. Historical episodes are not valuable to economists. c. While the scientific method is applicable to studying natural sciences, it is not applicable to studying a nation' s cconomy. d. The scientific method can be applied to the study of economics.
Gasoline prices ought to be lower than they are now is a Normative statement. So, the correct option is B. The actual statement is d. The scientific method can be applied to the study of economics.
A normative statement expresses a value judgment or opinion about what should or should be. It involves subjective opinions and cannot be tested or proven true or false based solely on economic analysis. In this case, statement b. "Gasoline prices ought to be lower than they are now" is a normative statement. It reflects a subjective opinion about the ideal or desired level of gasoline prices. It is not a statement that can be objectively proven or disproven using economic analysis alone. The word implies a value judgment that lower gasoline prices would be preferable. However, different individuals or groups may have different opinions on the "correct" or "ideal" level of gasoline prices based on their perspectives and interests. Economics is a social science that seeks to understand how individuals, businesses, and societies choose and allocate resources. The scientific method, which involves systematic observation, formulation of hypotheses, data collection, analysis, and conclusion, applies to the study of economics. Economists use the scientific method to study economic phenomena, test theories, and make predictions about economic behavior. They gather data, develop models and ideas, and test them using empirical evidence. Through this process, economists seek explanations and insights into various economic phenomena, such as market behavior, consumer choices, production processes, and policy outcomes. While the economic analysis may involve complexities and uncertainties due to economic systems' dynamic and interdependent nature, the scientific method provides a framework for systematic and rigorous economic inquiry. It allows economists to generate knowledge, refine theories, and contribute to understanding economic behavior and its implications.
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if you were a salesperson for the following, how would you develop a prospect list? a travel agency specializing in medical tourism (for people traveling to a country other than their own to obtain medical treatment). a manufacturer of commercial baking and pastry supplies.
The salesperson is eligible to participate in trade shows organised by construction companies. He or she may visit the businesses in person to introduce them as potential clients.
How would you create a list of potential customers if you were the salesperson for the following?A prospect lists is a database and document that contains contact information as well as other crucial details about potential clients or customers for a certain product or service. I would begin my research for the travel agency by learning which countries are very well for health tourism and compiling a list of potential clients, including individuals and medical facilities. I would start by looking for potential customers in the food and hospitality industries, such as bakers, restaurants, and hotels.
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Eliza Conner owns a small clothing boutique. Eliza uses her personal checking account for both business and personal needs. How would you convince Eliza that she should open a separate
bank account for her business?
Answer:
1. It will cause them confusion throughout the tax calculating process.
2. Using a single account will make it difficult to keep payroll records.
3. Keep track of your personal expenses and earnings.
Explanation:
1. It is preferable to establish a separate account to separate the firm's actual income and expenses.
2. Payroll expenses are indistinguishable from personal expenses.
3. This allows you to cross-check bank and hand-made documents for income and expenses. Because cash transactions may not be recorded in the bank account, the entrepreneur should preserve receipts in order to compute revenue and expenses, which may result in erroneous financial statements.
Internet privacy has become a major issue. In fact, in Europe there are privacy laws to limit how much information websites can collect from users without their permission. The United States does not have comparable laws to protect consumer privacy on the Internet. Collecting this information is beneficial for firms because then they can tailor marketing messages that better fit its users' needs. These better marketing campaigns can provide them with a competitive advantage. Acme Corporation uses cookies and other devices to collect information. Its privacy policy explicitly informs users that it collects information. However, most people do not read through the policy. Lately, some consumers have complained because they are worried that their information could be compromised. They question the security of the site. Acme wants to restore confidence and prove that it has controls in place. Refer to Scenario 3.2. What type of environmental force does this issue involve?
a. Greyhound bus system
Marco agrees to sell Clowns R Us some balloons. The contract states that Clowns may buy as many balloons as it wishes. This agreement is
Answer:
c
Explanation:
The agreement between Marco and Clowns R Us is an illusory contract. This is because Clowns R Us is not obligated to buy any balloons.
The contract states that Clowns may buy as many balloons as it wishes, but it does not say that Clowns must buy any balloons.
An illusory contract is not a valid contract because it lacks consideration. Consideration is something that each party gives up in order to make the contract binding.
In this case, Marco is giving up the right to sell balloons to other businesses. However, Clowns R Us is not giving up anything. It is free to buy balloons from other businesses or not buy any balloons at all.
As a result, the contract between Marco and Clowns R Us is not enforceable. If Clowns R Us does not buy any balloons, Marco cannot sue them for breach of contract.
Here are some other examples of illusory contracts:
A contract that states that one party may buy as many widgets as they wish at the price of $1 per widget.
A contract that states that one party may hire the other party for as many hours as they wish at the rate of $1 per hour.
A contract that states that one party may rent a car for as many days as they wish at the rate of $1 per day.
In all of these cases, the party that is not obligated to do anything is not giving up anything in order to make the contract binding. As a result, the contracts are not enforceable.
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What is the best thing to do with matured savings bonds?
The best thing to do with matured savings bonds is to redeem them.
Once your bond matures, you can keep it, but you won't get any more interest. Savings bonds cannot be spent without being redeemed, thus from that perspective, the value of your bonds would be seen as "secure."
On the other side, if your bond isn't redeemed, you'll miss out on other opportunities to earn money. Holding a bond that earns nothing and is openly losing money to inflation every day doesn't make much sense with inflation as high as it is right now.
Last but not least, whether you redeem your bonds or not, you will be responsible for paying taxes on them when they mature. Include any earned interest that was previously unreported on your tax return for the year of maturity.
If you don't, you risk incurring a tax underpayment fine. Hence, the best option is to redeem them.
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what climate and growing conditions do sugar beets and sugar cane require
Answer:
it requires a tropical or subtropical climate with a minimum of 600mm of annual
In trading account freight belongs to which side debit or credit?
Answer:
Explanation:
In trading account, freight belongs to the debit side. It is a direct expenses on purchases and manufacturing operation
Freight is the cost incurred in transporting an item to its final destination when the terms are FOB shipping point. It is treated as part of the cost of merchandise and recorded in the inventory if the merchandise has not been sold.
Increase in the cost of freight are recorded on the debit side while decrease are recorded on the credit side.
if i signed the contract for a new car, but never took possession of the car, can i cancel the deal?
Yes. Only after the bank has funded the deal can you no longer change your mind. The car is not legally yours if you haven't taken "delivery" of it.
Can you cancel a car purchase after you've signed?You may be aware of the federal right of withdrawal that applies to some purchases. There is such a regulation, but its primary goal is to protect consumers against pushy door-to-door sales tactics. Vehicles are expressly excluded from its application. In other words, as soon as you signed the sales contract, you officially own the automobile.
How do you cancel a car purchase?The accord can yet be rejected. You must return the car to the dealer to finish the purchase, and they should then return your trade-in and down payment. Regarding how this should take place, each state has its own legislation.
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