Describe the relationship between franchisor and franchisee.

Q: How do the income statements of a manufacturing firm and a service firm differ?

A: Manufacturing firm is the one which is involved in the production of the products whereas service…

Q: What distinguishes an owner entrepreneur from a manager

A: An entrepreneur seems to be a person who has had an idea for new goods or services and launches a…

Q: What is opportunity cost and how does it affect the decision-making process for business decisions?

A: Discuss the opportunity cost and the way how it affects the decision making process for business…

Q: How do the activities of manufacturers, merchandisers, and service businesses diffe

A: Solution- Business is any activity undertaken to earn profit. There can be three basic types of…

Q: Distinguish between manufacturing-, merchandising-, and service-sector companies?

A: Manufacturing companies are the  ones which procure raw materials and carry out manufacturing…

Q: In Management Accounting, what is the transfer price? What three areas does transfer price affect in…

A: SOLUTION- TRANSFER PRICE- IT IS THE PRICE THAT RELATED PARTIES CHARGED TO EACH OTHER. ON THE OTHER…

Q: Define the Term Skilled Producers & Sophisticated Consumers?

A: Sophisticated Customer:   A sophisticated customer refers to a customer who is aware regarding the…

Q: Differnce between selling price,cost of sales,labour cost in informal business

A: The products are produced with different expenses incurred as variable expenses and fixed expenses.

Q: Describe how manufacturing, merchandising and service-sector companies differ from one another?

A: Manufacturing Companies: Merchandiser is a person or organization who buys goods with the purpose of…

Q: Describe merchandising activities and identify income components for a merchandising company

A: merchandising activities Merchandising activities involve buying goods or products from the…

Q: Represent (In Figure form) the Income Statement of Service and merchandising sector company.

A: Income statement is described as a financial statement which consists of the revenues and expenses…

Q: What distinguishes a merchandising business from a service business?

A: Merchandising Company and Service Company: A merchandising company generates income by selling goods…

Q: How does the format of the income statement of a manufacturing entity differ from the income…

A: Statement of profit or loss is a statement which records revenue earned by the company during a…

Q: What is the difference between the selling price,cost of sales and labour costs of an informal and…

A: The abbreviations CP and SP stand for Cost Price and Selling Price, respectively. The cost price of…

Q: What term describes all business processes associated with providing a product or service? O The…

A: A product is a tangible item that can be sold to the customers.  Service is an intangible item which…

Q: How does reporting information for a merchandising company differ from financial reporting for a…

A: Merchandising Company:   A merchandising company is a type of company that engages in the purchase…

Q: Define segments and explain how defining segments within a company can help with management. Define

A: Define segments and explain how segmenting a business can help with management. a Establishing an…

Q: How do manufacturing companies differ from merchandising companies?

A: Manufacturing Companies: Merchandiser is a person or organization who buys goods with the purpose of…

Q: Providing information about the performance and fi nancial position of companies so thatusers can…

A: Communicating financial information is one of the basic need of accounting. Its company’s…

Q: Explain an example of business segment.

A: A business segment is a part of a company that can be identified by the products it provides or by…

Q: compare service concern from merchandising business as a far as the manner of generating income and…

A: Different types of business organizations includes manufacturing business, service business, and…

Q: How do commercial businsses support the work of industrial business

A: Gaining profits is a primary motive for trading businesses mostly which can be treated as commercial…

Q: Identify the correct statement with respect to manufacturing and merchandising companies in general…

A: A merchandising firm is one of the most common types of business. A sales firm is a business that…

Q: What is the chief difference between manufacturing and service industry firms?

A:

Q: How would a knowledge of cost behavior patterns such as those above be of help to a manager in…

A: The question is based on the concept of cost determination and the behaviour in the cost budget. A…

Q: Explain the meaning of transfer pricing and how a company could price products passing from one…

A: Transfer price: Transfer price is a price charged on the goods manufactured by the one division and…

Q: What factors explain the differences in company performance in the same industry?

A: For firms within the same business sector like Mcdonalds, Starbucks, burger king, etc in the…

Q: Difference between labour cost,cost of sales and selling price in informal and formal business

A: A formal business is a business that is well formalized and its goals are set and organized. Whereas…

Q: What is the distinction between merchandising and manufacturing companies?

A:

Q: Why Gross sales is important in a Company?

A: Gross sales: Gross sales is a metric for the total sales of the company, that are unadjusted for the…

Q: the differences between service business and merchandising business?

A: Merchandise business is a kind of business wherein revenues are earned by providing or selling goods…

Q: What is the dominant form of business organization, in terms of the ownership of productive…

A: Corporation: The form of business entity ,which is incorporated by state law into a separate legal…

Q: What is cost principle and give example of business situation of it

A: The cost principle is an accounting principle that requires assets, liabilities, and equity…

Q: the specific parts of a business plan will vary, depending on the goods or services the firm is…

A: A business plan is a document in writing that elaborates how a start-up company derives its…

Q: Write down pay objective of two companies?

A: Wage and pay administration's major goal is to create and maintain an equal wage and compensation…

Q: How does the operations manager use the production report to make business decisions?

A: The production report is the report which outlines the number of units produced, the cost of…

Q: how important does the owner /manager believe cost information is the success of the business?

A: Cost accounting is an accounting system which provides information about all the costs incurred in…

Q: Differentiate between selling price,cost of sales and labour costs in informal and formal business.

A: Registered (or unregistered), organized (or unorganized), and supervised (or unregulated) companies…

Q: Understand the components of a merchandising company’s income statement.

A: Preparations of income statements help the merchandise company to know how much gross profit or net…