Adam elects the accrual method of accounting for his business. what amount of deductions does adam recognize in year 0 for the following transactions? (leave no answers blank. enter zero if applicable.)

a. adam guarantees that he will refund the cost of any goods sold to a client if the goods fail within a year of delivery. in october of year 0, adam agreed to refund $3,550 to clients, and he expects to make payment in january of year 1.

b. on october 1 of year 0, adam paid $960 for a one-year contract with cleanup services to clean his store. the agreement calls for services to be provided on a weekly basis.

c. adam was billed $465 for annual personal property taxes on his delivery van. because this was the first time adam was billed for these taxes, he did not make payment until january. however, he considers the amounts immaterial.

whole quiz

1. the sum of all activities involved in getting high-quality products into the marketplace

2.operations

3. the principle of looking at the supply chain as a whole in order to improve the overall flow through the system.

4. produced; performed

5. activities producing tangible products, such as radios, newspapers, buses, and textbooks.

6. activities producing intangible and tangible products, such as entertainment, transportation, and education.

7.   customer focus

8. analyzing a competitor's products to identify desirable improvements

9. the systematic direction and control of the processes that transform resources into finished projects that create value for and provide benefits to consumers.

10. operation management.

your welcome leave a rate and a < 3

answer; ///blank(1); rate-buster; blank(2) systematic soldiering;

answer: in the short-run firms will respond by raising the price of turkey.

explanation: initially the long-run equilibrium is at a price of $5 per pound of turkey and a quantity of 50 million pounds per year. now, when webmd claims that a protein found in turkey will increase your expected lifespan by 4 years. the consumers demand for turkey will increase at every price shifting the demand curve to the right from d1 to d2. while, there will be no change in the supply curve in the short-run as it is not possible for producers to adjust supply so quickly. as a result the new equilibrium will occur at a higher price and a higher quantity of turkey.

thus, in the short run firms will respond by increasing the price of turkey, selling more quantity at a higher price and earning economic profits.