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In order to enhance sales from their present annual $35 million, ABC Company, a retailer, is considering more liberal credit standards. Presently, the firm has an average collection period of 30 days. It believes that with increasingly liberal credit standards, the following will result: Credit Policy A B C DEnhance in sales from previous level (in millions) $6.5 $4.8 $2.6 $1.8 Average collection period for incremental sales (days) 45 60 90 150Bad-Debt losses on incremental sales 3% 4% 6% 9%
The prices of its products average $30 per unit, and variable costs average $26 per unit. If the company has a before-tax opportunity cost of 20%, which credit policy should be pursued?
Profits in subsidiary company The remaining profits that belong to the holding company should be split between pre-acquisition profits and post acquisition profits. The pre
Conditions of a will A written will is not valid unless it fulfills the following conditions. 1) The testator must sign the will; or he must affix his mark to the will (i.e. a
what is the implication of applying accounting concepts wrongly
speciman of accounts preparation in stock and debtor system.
Illustration of double entry The balances on the current accounts of a head office and branch were Ksh 698,000, before the transactions listed below: Normal 0
The following information is for the third quarter of this year: Planned Actual Production 92,000 units
Q. A prior period adjustment that corrects income of a prior period requires that an entry be made to a. an income statement account. b. a current year revenue or expense account.
Classifying expenses by nature Under this format, expenses are not classified by their nature i.e. referred to specifically according to their type and the major categories of ex
Simon Corporation's bonds have 12 years left over to maturity. Interest is paid yearly, the bonds have a $1,000 par value, and the coupon interest rate is 11.5%. The bonds have a y
Q. The British Mini car was designed by a team headed by Sir Alec Issigonis in the late 1950's. Describe the process of the design of this product. Consider the context of
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