Answer:
Option C, remain unchanged, is the right answer.
Explanation:
Option C is correct because the increase in the price level will result in the movement along with the given supply curve but in the question, option A says shifts to the right and in option B it says the shift to the left. Therefore these options are wrong. However, the supply curve remains the same because due to an increase in the price level the supply curve does not shift. Therefore option C will be the right option.
The economic prosperity enjoyed by _____ during the 1980s and 1990s strained the world trading system and created the demand for increased protectionist measures.
Answer: Japan
Explanation:
The economic prosperity enjoyed by Japan during the 1980s and 1990s strained the world trading system and created the demand for increased protectionist measures.
This was due to the fact that the trade that took place between the United States and Japan between these years brought about some deficits in trade for United States while bringing prosperity for Japan and this led to some trade restrictions.
As the manager of Margarita Mexican Restaurant, you must deal with a variety of business transactions. Provide an explanation for the following transactions:
A. Debit Equipment and credit Cash.
B. Debit Dividends and credit Cash.
C. Debit Wages Payable and credit Cash.
D. Debit Equipment and credit Common Stock.
E. Debit Cash and credit Unearned Revenue.
F. Debit Advertising Expense and credit Cash.
G. Debit Cash and credit Service Revenue.
Answer:
A. Debit Equipment and credit Cash.
You purchase equipment and you pay in cash.B. Debit Dividends and credit Cash.
You paid cash dividends.C. Debit Wages Payable and credit Cash.
You paid wages that you owed to your employees. Generally wages are paid at the end of the week and not all months end on a weekend. So you must record wages payable until you actually pay the wages.D. Debit Equipment and credit Common Stock.
You received equipment in exchange for common stock.E. Debit Cash and credit Unearned Revenue.
You received cash in advance for some food that you will deliver in the future.F. Debit Advertising Expense and credit Cash.
You incurred in advertising costs and you paid them in cash.G. Debit Cash and credit Service Revenue.
You sold meals and your clients paid you in cash.The valuation of marketable securities on the balance sheet requires the securities on the balance sheet requires the separation of investment securities into three categories: held to maturity: trading securities and securities available for sale trading and securities available for sale.
a. True
b. False
Answer: True
Explanation:
The valuation of marketable securities on the balance sheet requires the securities on the balance sheet requires the separation of investment securities into three categories.
The categories are held to maturity which are the securities that are bought and then kept until they mature; the trading securities and then the securities that are available for sale.
Wanda contracted to sell Mike 100 boxes of ball bearings.The contract did not specify a place of delivery.The ball bearings now reside at Wanda's place of business.Wanda refuses to ship the 100 boxes to Mike,and Mike refuses to come to Wanda's place of business to pick them up.Who is right? Why?
Answer:
Wanda is right since the contract did not specify a place of deliveryExplanation:
Wanda is right, since the contract did not specify the place of delivery or whether Wanda is expected to deliver the bearing to Mikes place.
If it is in Wanda terms of business that normally boxes above 100 when purchased, delivery is free and he defaults, then he is wrong, but in this case it was not specified who will bear the cost of shipping, and it is not in Wanda terms of business that delivery is free, so Wanda is right in my own opinion.
If a firm raises capital by selling new bonds, it could be called the "issuing firm," and the coupon rate is generally set equal to the required rate on bonds of equal risk.
1. True
2. False
Answer: True
Explanation:
An issuing firm is an organization which registers, and then sells security like bonds and stocks on the primary market.
It should be noted that when a firm raises capital through the sale of new bonds, they can be also referred to a the issuing firm, and the coupon rate is usually set to be equal to the required rate on bonds of equal risk.
Vaughn Manufacturing incurs the following costs to produce 10700 units of a subcomponent: Direct materials $8988 Direct labor 12091 Variable overhead 13482 Fixed overhead 16200 An outside supplier has offered to sell Vaughn the subcomponent for $2.85 a unit. If Vaughn accepts the offer, it could use the production capacity to produce another product that would generate additional income of $3600. The increase (decrease) in net income from accepting the offer would be
Answer:
Buying the subcomponent will increase income by $7,666.
Explanation:
Giving the following information:
Units= 10,700
Production costs:
Direct materials $8,988
Direct labor $12,091
Variable overhead $13,482
An outside supplier has offered to sell Vaughn the subcomponent for $2.85 a unit.
Additional income= $3,600
To calculate which one is better, we need to determine the total cost of both options. We will not take into account the fixed costs.
Production:
Total cost= 8,988 + 12,091 + 13,482= $34,561
Buy:
Total cost= 10,700*2.85 - 3,600= $26,895
Buying the subcomponent will increase income by $7,666.
You are given three options. You may have the balance in an account that has been collecting 5 percent interest for 20 years, the balance in an account that has been collecting 10 percent interest for 10 years, or the balance in an account that has been collecting 20 percent interest for five years. Each account had the same original balance. Which account now has the lowest balance
Answer:
Third account has the lowest balance that is 2.49P.
Explanation:
First option,
Given interest rate = 5%
Time period = 20 years
Let the initial amount ( present value ) = P
First Account,
Given interest rate (n )= 5%
Time period (n ) = 20 years
Let the initial amount ( present value ) = P
Now find the Future value = PV(1+ r)^n
= P ( 1 + 5%)^20
= 2.65P
Second account:
Given interest rate (n ) = 10%
Time period (n ) = 100 years
Let the initial amount ( present value ) = P
Now find the Future value = PV(1+ r)^n
= P ( 1 + 10%)^10
= 2.59P
Thirs account:
Given interest rate (n ) = 20%
Time period (n ) = 5 years
Let the initial amount ( present value ) = P
Now find the Future value = PV(1+ r)^n
= P ( 1 + 20%)^5
= 2.49P
Identity which of the following are project resources that can be managed: (choose all that apply)
buildings the company owns
cash from the company
team member skills
problems the team encounters
the finished product
Answer: 1,2,3
Explanation:
According to the project resources that can be managed are buildings the company owns, cash from the company, and team member skills.
Project resources are components required for the proper completion of a project.
They include people, equipment, money, time, and knowledge - in short, whatever you would need from project planning through project delivery.
These are divided into three categories: work, materials, and expenses.
The project manager defines resource needs to determine the resources required to complete the project's task.
Therefore, the correct option is as follows:
Buildings the company ownsCash from the companyTeam member skillsTo know more about the project resources, visit:
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On December 1, 2018, ABC signed a $300,000, 5%, six-month note payable with the amount borrowed plus accrued interest due six months later on June 1, 2019. ABC records the appropriate adjusting entry for the note on December 31, 2018. What amount of cash will be needed to pay back the note payable plus any accrued interest on June 1, 2019?
Answer:
$315,000 will be needed to pay back
Explanation:
When the note payable is signed, the entries would be as follows :
Cash $300,000 (debit)
Note Payable $300,000 (credit)
Interest that accrues over the period of the over the note receivable is
Interest expense $15,000 (debit)
Note Payable $15,000 (credit)
Interest expense = $300,000 × 5%
= $15,000
On June 1, 2019 the Note Payable plus Interest that needs to be paid would be :
Note Payable $315,000 (debit)
Cash $315,000 (credit)
The amount of cash should be $315,000 will be needed to payback.
Calculation of the amount of the cash needed:At the time When the note payable is signed, the entries should be
Cash $300,000 (debit)
Note Payable $300,000 (credit)
Interest that accrues over the period of the over the note receivable should be
Interest expense $15,000 (debit)
Note Payable $15,000 (credit)
here,
Interest expense = $300,000 × 5%
= $15,000
On June 1, 2019, the Note Payable plus Interest that needs to be paid should be
Note Payable $315,000 (debit)
Cash $315,000 (credit)
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Wolverine Company financial statements included the effects of these errors: Reported Net Income for Year 1 was $20,000. Reported Net Income for Year 2 was $18,000. Indicate the error in 12/31/2 Retained Earnings:
Answer:
Net income year 2 = $21,300
Explanation:
I looked for the missing information and found this:
Year Depreciation overstated Prepaid expense omitted
1 $2,500 $2,000
2 $4,000 $2,700
If your question doesn't include the same values, just adjust the answer.
Year 2's net income = net income (year 2) + overstated depreciation (year 2) + omitted prepaid expenses (year 1) - omitted prepaid expenses (year 2) = $18,000 + $4,000 + $2,000 - $2,700 = $21,300
_______ is a political strategy for managers to exercise power unobtrusively. Controlling uncertainty Being irreplaceable Generating resources Building alliances Relying on objective information
Answer:
Controlling uncertainty
Explanation:
An aging of a company's accounts receivable indicates that the estimate of uncollectible accounts totals $6,400. If Allowance for Doubtful Accounts has a $1,300 debit balance, the adjustment to record the bad debt expense for the period will require a
Answer:
Debit to Bad Debt Expense for $7,700
Explanation:
Based on the information given we were told that company's accounts receivable shows the estimate of uncollectible accounts totals of the amount of $6,400 while the Allowance for Doubtful Accounts has the amount of $1,300 as the debit balance. This means that the adjustment to record the bad debt expense for the period will require a
Debit to Bad Debt Expense for $7,700 Calculate as:
Dr Bad Debts 7700
(6300+1300)
Cr To Allowance for Doubtful Accounts 7700
10. You recently sold 200 shares of Apple stock to your brother. The transfer was made through a broker, and the trade occurred on the NYSE. This is an example of:
Answer:
A secondary market transaction
Explanation:
Secondary market transaction: In this transaction, the transaction which is already issued to the public are sold by another investors.
In this type market, the investors buy and sell securities which are theirs . It is what most people typically think of as the "stock market," though stocks are also sold on the primary market when they are first issued.
So in the question, the transfer was made through a broker which implies it deals in the secondary market.
Primary market transaction: In this transaction, the company directly sells the new stocks, bonds, etc to the public for the first time.
Future market transaction: This is the transaction which occurs in the near future to buy some specific quantities at the future price.
Find an example of a company's aggregate planning strategy. You can use the strategy from the firm where you currently work or where you have worked in the past; you can conduct an Internet search or use the Hunt Library resources.
Explanation:
An aggregate planning strategy can be defined as the implementation of new strategic action plans used in a company whose objective is to balance supply and demand through the implementation of material resources, sales, promotions, products, etc.
This planning occurs in the short term, and is usually carried out when a company has the capacity to meet a certain market offer, such as consumer demand for an innovative product.
Aggregated planning is a good strategy when the company considers maximizing its profits, so in order to achieve the expected result, market demand must be thoroughly analyzed, the company's operational capacity, risks, budget and other essential variables.
A soft drink factory for example can carry out a promotional campaign in the style buy 1 light 2 to increase its demand, therefore you must be aware that your productive force will be able to meet the demand, in addition to analyzing the strategic results in order to ascertain the effectiveness planning.
James is an agreeable and emotionally stable person. A _______ , he inspires his employees to believe in the changes he wants to make to the organization.
a) transformational leader
b) transactional leader
Answer:
transformational leader
Division A reported income from operations of $975,000 and total service department charges of $675,000. As a result, a.consolidated net income was $300,000 b.the gross profit margin was $300,000 c.income from operations before service department charges was $1,650,000 d.net income was $300,000
Answer:
c.income from operations before service department charges was $1,650,000
Explanation:
We can see from the information in the question, that income from operations and service department charges sum a total of $1,650,000
Gross income before service department charges = $975,000 + $675,000
= $1,650,000
A financial asset is liquid: Group of answer choices if it can be readily exchanged for another asset or good. if it is held by the public and earning interest. only if it takes the form of cash. if it can be carried easily from one place to another.
Answer:
if it can be readily exchanged for another asset or good
Explanation:
An asset is liquid if it can be easily be exchanged for another asset or good or converted to cash. cash ( currency) is the most liquid asset.
an house for example is less liquid when compared to cash. this is because before it can be converted to cash or exchanged for another asset, it must first be valued, then we have to find a buyer and this process can range from days to years. this makes a house less liquid when compared with a house.
Assume Highline Company has just paid an annual dividend of $ 1.03. Analysts are predicting an 10.5 % per year growth rate in earnings over the next five years. After then, Highline's earnings are expected to grow at the current industry average of 5.3 % per year. If Highline's equity cost of capital is 8.7 % per year and its dividend payout ratio remains constant, for what price does the dividend-discount model predict Highline stock should sell?
Answer:
The stock should sell for $40.04 today
Explanation:
The current price per share or the fair price can be calculated using the two stage growth model of DDM or Dividend Discount Model. The DDM values a stock based on the present value of the expected future dividends from the stock. The price today can be calculated as follows,
P0 = D1 / (1+r) + D2 / (1+r)^2 + ... + Dn / (1+r)^n + [Dn * (1+g2) / (r - g2)] / (1+r)^n
Where,
g1 is the initial growth rateg2 is the constant growth rateD1 is the dividend expected for the next period calculated as D0 * (1+g1)r is the required rate of returnP0 = 1.03 * (1+0.105) / (1+0.087) + 1.03 * (1+0.105)^2 / (1+0.087)^2 + .... +
1.03 * (1+0.105)^5 / (1+0.087)^5 +
[(1.03 * (1+0.105)^5 * (1+0.053)) / (0.087 - 0.053)] / (1+0.087)^5
P0 = $40.04
See the attached photo for the calculation of present values (PV) of dividend for year 1 to 5 dividends.
From the attached photo, we have:
Previous year dividend in year 1 = Dividend just paid = $1.03
Total of PV of dividends from year 1 to year 5 = $4.8973404048370
Year 5 dividend = $1.53562911214375
Therefore, we have:
Year 6 dividend = Year 5 dividend * (100% + Constant dividend growth rate) = $1.53562911214375 * (100% + 5.3%) = $1.61701745508737
Price at year 5 = Year 6 dividend / (Cost of capital - Constant dividend growth rate) = $1.61701745508737 / (8.7% - 5.3%) = $47.5593369143344
PV of price at year 5 = Price at year 5 / (100% + Cost of capital)^Number of years = $47.5593369143344 / (100% + 8.7%)^5 = $31.3392118720597
Therefore, we have:
Current stock price = Total of PV of dividends from year 1 to year 5 + PV of price at year 5 = $4.8973404048370 + $31.3392118720597 = $36.24
Therefore, the price the dividend-discount model predicts Highline stock should sell is the Current stock price of $36.24.
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Wolford Department Store is located in midtown Metropolis. During the past several years, net income has been declining because suburban shopping centers have been attracting business away from city areas. At the end of the company’s fiscal year on November 30, 2017, these accounts appeared in its adjusted trial balance.
Accounts Payable $34,304
Accounts Receivable 22,016
Accumulated Depreciation's Equipment 87,040
Cash 10,240
Common Stock 44,800
Cost of Goods Sold 786,304
Freight-Out 7,936
Equipment 200,960
Depreciation Expense 17,280
Dividends 15,360
Gain on Disposal of Plant Assets 2,560
Income Tax Expense 12,800
Insurance Expense 11,520
Interest Expense 6,400
Inventoryv 33,536
Notes Payable 55,680
Prepaid Insurance 7,680
Advertising Expense 42,880
Rent Expense 43,520
Retained Earnings 18,176
Salaries and Wages Expense 149,760
Sales Revenue 1,157,120
Salaries and Wages Payable 7,680
Sales Returns and Allowances 25,600
Utilities Expense 13,568
Additional data: Notes payable are due in 2021.
Required:
Prepare a multiple-step income statement. (List other revenues before other expenses.)
Answer:
Wolford Department Store
Income Statement
For the year ended November 30. 2017
Sales Revenue
Total sales $1,157,120
Less Sales return $25,600
Net Sales Revenue $1,131,520
Less : Cost of goods sold $786,304
Gross Profit $345,216
Operating Expenses
Selling Expenses
Freight out $7,936
Advertising expenses $42,880
Administrative expenses
Depreciation Expenses $17,280
Salaries and wages Expenses $149,760
Rent Expenses $43,520
Utilities Expenses $13,568
Insurance Expenses $11,520
Total Operating Expenses $286,464
$58,752
Other Income and Expenses
Gain on disposal of equipment $2,560
Less: Interest Expenses $11,520
Net Other Income and Expenses -$8,960
Less: Income Tax Expenses $12,800
Net Income $36,992
We want to send all of our high-value customers a special VIP gift. We are defining high-value customers as those who have made at least 1 order with a total value (not including the discount) equal to $10,000 or more. We only want to consider orders made in the year 2016. Who would we send the gift to? (Show customer ID, name, the order, and the total order amount.)
Answer:
Customer ID HANAR
Customer Name Hanari Carnes
Order ID 10981
Total Amount 15810.00
Explanation:
Companies focus on Customer retention policies for high valued customers. The companies do not want to upset their high valued clients and lose a great part of their sales from these customers. In this question all the high valued customers are sent gifts by the company who has shop for $10,000 or more from the company this year. From the given list we have sorted the high valued customers based on this criteria.
Green Moose Industries is a company that produces iBooks, among several other products. Suppose that Green Moose Industries considers replacing its old machine used to make iBooks with a more efficient one, which would cost $1,800 and require $250 annually in operating costs except depreciation. After-tax salvage value of the old machine is $600, while its annual operating costs except depreciation are $1,100. Assume that, regardless of the age of the equipment, Green Moose Industries’s sales revenues are fixed at $3,500 and depreciation on the old machine is $600. Assume also that the tax rate is 40% and the project’s risk-adjusted cost of capital, r, is the same as weighted average cost of capital (WACC) and equals 10%.
Based on the data, net cash flows (NCFs) before replacement are___________ and they are constant over four years.
Answer:
Based on the data, net cash flows (NCFs) before replacement are $1,680 and they are constant over four years.
Explanation:
annual operating costs before replacement = $1,100
sales revenue = $3,500
depreciation of old machine = $600
tax rate = 40%
net cash flow = [(revenues - current cost - depreciation) x (1 - tax rate)] + depreciation = [($3,500 - $1,100 - $600) x (1 - 40%)] + $600 = $1,680 per year
Suppose you have $1,500 and plan to purchase a 5-year certificate of deposit (CD) that pays 3.5% interest, compounded annually. How much will you have when the CD matures
Answer:
$ 1,781.53
Explanation:
The future value of the 5-year CD can be determined by using the future value formula stated below:
FV=PV*(1+r)^n
FV is the future value which is expected future amount after 5 years
PV is the initial amount used in purchasing the CD i.e $1500
r is the rate of return on the CD on an annual basis which is 3.5%
n is the number of years the investment would last which is 5 years
FV=$1500*(1+3.5%)^5
FV=$1500*1.187686306
FV=$ 1,781.53
Michelle Townsend owns stock in National Computers. Based on information in its annual report, National Computers reported after-tax earnings of $7,436,000 and has issued 2,860,000 shares of common stock. The stock is currently selling for $39 a share.
a. Calculate the earnings per share for National Computers. (Round your final answer to 2 decimal places.) Earnings per share
b. Calculate the price-earnings (PE) ratio for National Computers.
Answer:
Earnings per share=2.6
Price earning ratio= 15
Explanation:
Michelle Townsends owns a stock in National computers
The National computers reported an after-tax earnings of $7,436,000
They issued 2,860,000 common shares
The stock is currently selling at $39 per share
(A) The earnings per share of National computers can be calculated as follows
= After-tax earnings/number of stock
= 7,436,000/2,860,000
= 2.6
(B) The price earning ratio of national computers can be calculated as follows
Price warning ratio= stock price/earnings per share
= 39/2.6
= 15
Hence the earning per share and price earning ratio of national computers are 2.6 and 15 respectively
On January 1, 2012 Johnson Company issued bonds with a face value of $750,000. The bonds carry an interest rate of 8% payable each January 1.
Required:
a. Prepare the journal entry for the issuance assuming the bonds are issued at 96.
b. Prepare the journal entry for the issuance assuming the bonds are issued at 103.
Answer:
a.
January 1 Cash 720000 Dr
Discount on Bonds Payable 30000 Dr
Bonds Payable 750000 Cr
b.
January 1 Cash 772500 Dr
Bonds Payable 750000 Cr
Premium on Bonds Payable 22500 Cr
Explanation:
a.
When the bonds are issued at 96, this means that they are issued at 96% of the face value of the bond which is 750000 * 0.96 = 720000
So, the cash received from issuing the bonds is 720000. As the face value of the bonds is 750000 which will be recorded as bonds payable, the difference between the cash received and the face value is the discount amount which will be debited.
b.
When the bonds are issued at 103, this means that they are issued at 103% of the face value of the bond which is 750000 * 1.03 = 772500
So, the cash received from issuing the bonds is 772500. As the face value of the bonds is 750000 which will be recorded as bonds payable, the difference between the cash received and the face value is the premium amount which will be credited.
2. You are considering entry into a market in which there is currently only one producer (incumbent). If you enter and the incumbent prices low (fights) then you will both lose 10 million. If you enter and the incumbent accommodates than you both will earn 3 Million. If you stay out of the market you will earn nothing and the incumbent will earn 7 million. What is the best strategy for you as the entrant in the market.
Answer: a. You should enter if you expect the incumbent to accommodate
Explanation:
If you expect the incumbent to be accommodating then it is best to enter the market because you will earn 3 million along with the incumbent.
This will be a gain for the both of you that has a chance of success because fighting you will be to the detriment of the incumbent as they will then stand to lose 10 million like you will as well.
The option of the incumbent being accommodating is the best option for the both of you.
The Apple stock’s price is $112.92 on 8/1/15 and becomes $110.30 on 9/1/15. In August, Apple gives a dividend of $0.52 per share. What is the holding period monthly return for Apple in August?
Answer:
The holding period monthly return for Apple in August is -2.00%.
Explanation:
Holding period return (HPR) refers to total return that is received by an investor when he holds an asset or portfolio of assets over a period of time.
The holding period return is generally expressed as a percentage can be estimated using the following formula:
HPR = [Income + (P1 - Po)] / Po ....................... (1)
Where;
Income = Dividend = $0.52
P1 = End-of-period value = $110.30
Po = Initial value = $112.92
Substituting the values into equation (1), we have:
HPR = [$0.52 + ($110.30 - $112.92)] / $112.92
HPR = [$0.52 - $2.62] / $112.92
HPR = -$2.10 / $112.92
HPR = -0.02, or -2.00%
Therefore, the holding period monthly return for Apple in August is -2.00%.
Jasper makes a $25,000, 90-day, 7% cash loan to Clayborn Co. Jasper's entry to record the collection of the note and interest at maturity should be: (Use 360 days a year.)
Answer: B) Debit Cash $25,437.50, credit Interest Revenue $437.50; credit Notes Receivable $25,000.
Explanation:
The interest revenue for the period of 90 days will be;
= 25,000 * 7% * [tex]\frac{90}{360}[/tex]
= $437.50
Total to be received
= 25,000 + 437.50
= $25,437.50
The entry to record will therefore be;
DR Cash $25,437.50
CR Interest Revenue $437.50
CR Notes Receivable $25,000
Abburi Company's manufacturing overhead is 55% of its total conversion costs. If direct labor is $45,900 and if direct materials are $27,200, the manufacturing overhead is:
Answer:
Manufacturing Overheads = $56100
Explanation:
The conversion cost defined simply is the cost involved in turning the raw material or direct material into the finished products. Conversion cost is calculated by adding the direct labor cost and the manufacturing overhead cost.
Conversion cost = Direct labor + Manufacturing overheads
As we know that the manufacturing overhead is 55% of conversion cost, then the direct labor cost is 45% of conversion cost.
If 45% of conversion cost is $45900, then the total conversion cost will be,
Conversion cost = 45900 * 100/45 = $102000
Manufacturing Overheads = 102000 - 45900 = $56100
A bridge on a prominent public roadway in the city of Springfield, Ohio, was deteriorating and in need of repair. The city posted notices seeking proposals for an artistic bridge design and reconstruction. Bridges by Madison LLC, owned and managed by Madison Mason and his wife, May Mason, decided to submit a bid for a decorative concrete project that incorporated artistic metalwork. They contacted Pablo Hand, a local sculptor who specialized in large-scale metal designs, to help them design the bridge. The city selected their bridge design and awarded them the contract for a commission of $184,000. Bridges by Madison and Hand then entered into an agreement to work together on the bridge project. Bridges by Madison agreed to install and pay for concrete and structural work, and Hand agreed to install the metalwork at his expense. They agreed that overall profits would be split, with 25 percent to Hand and 75 percent going to Bridges by Madison. Hand designed numerous metal pig sculptures that were incorporated into colorful decorative concrete forms designed by May Mason, while Madison Mason performed the structural engineering. The group worked together successfully until the completion of the project. Suppose Hand had entered into an agreement to rent space in a warehouse that was close to the bridge so that he could work on his sculptures near the location at which they would eventually be installed. He entered into the contract without the knowledge or consent of Bridges by Madison. In this situation, would a court be likely to hold that Bridges by Madison was bound by the contract that Hand entered? Help please here is the multiple choices
Answer:
Bridges by Madison and Hand
Agreement by Hand for a Warehouse:
1. Yes - when they agreed to work together, this implied that they would agree to be liable for each other's contracts.
Explanation:
This is especially as far as this joint project is concerned. Since the purpose of the warehouse was to further and fulfill the project, the agreement entered into by hand for a warehouse affects Bridges by Madison.
In a joint venture, every aspect of the project's lifetime is shared: shared profits, shared losses, shared rewards, shared risks, shared obligations and responsibilities, shared rights and privileges until the end of the project, which also ends the joint venture, unless there is a binding agreement to the contrary. In such a case, Hand would not have been a joint-venturer but a sub-contractor.
In terms of the global value system, when Kodak shifted manufacturing to China, what position did China then take in the system, relative to the U.S.
Answer: b. Upstream
Explanation:
The Upstream part of a company's value chain is the part closest to the suppliers and the raw materials they supply to the firm while the downstream relates to how the goods are distributed and sold after produced.
As such, the firm's manufacturing plants are closer to its Upstream value chain portion. When Kodak therefore shifted manufacturing to China, it made China more upstream than the United States as China now dealt more with Kodak suppliers and inputs than the US, who were now more downstream as the consumers.