Under which of Porter's five forces do you need to consider product differentiation?
a. threat of new entrants
b. threat of substitute products
c. rivalry among existing firms
d. determination of buyer power
c
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The J. Godfrey, Capital account has a credit balance of $17,000 before closing entries are made. If total revenues for the period are $55,200, total expenses are $39,800, and withdrawals are $9,000, what is the ending balance in the J. Godfrey, Capital account after all closing entries are made?
a. $ 8,000. b. $15,400. c. $23,400. d. $17,000. e. $32,400.
Which of the following statements with respect to partnership is TRUE?
A) Partnership involves two or more persons carrying on business with a view towards profits. B) Partnership involves limited liability C) Partnerships are only created when two or more persons specifically agree to be in partnership D) Partnerships are only created when they have been properly registered with the government E) Partnerships are like any form of contract: they can only be created when there is consensus between the parties in the form of offer and acceptance to that effect.