Suppose there are two breakfast restaurants in your college town, waffle kingdom and flip’s flapjacks, and they decide to operate collusively as a cartel. if both restaurants abide by the cartel’s agreement, then each will earn $100,000 in profit. if both restaurants cheat on the cartel’s agreement, then each will earn $25,000 in profit. if one restaurant cheats and the other abides by the agreement, then the cheater will earn a profit of $150,000 while the firm that abides will have a loss of $12,500.1 the most profitable combined outcome for the two restaurants would bea. for both restaurants to abide by the cartel’s agreement. b. for both restaurants to cheat on the cartel’s agreement. c. for waffle kingdom to cheat on the agreement and flip’s flapjacks to abide by the agreement. d. there is not a profitable outcome for both restaurants
Answers: 2
Business, 22.06.2019 12:40, hardwick744
Acompany has $80,000 in outstanding accounts receivable and it uses the allowance method to account for uncollectible accounts. experience suggests that 6% of outstanding receivables are uncollectible. the current credit balance (before adjustments) in the allowance for doubtful accounts is $1,200. the journal entry to record the adjustment to the allowance account includes a debit to bad debts expense for $4,800. true or false
Answers: 3
Business, 22.06.2019 15:00, WowOK417
Which of the following characteristics are emphasized in the accounting for state and local government entities? i. revenues should be matched with expenditures to measure success or failure of the government entity. ii. there is an emphasis on expendability of resources to accomplish objectives. a. i only b. ii only c. i and ii d. neither i nor ii
Answers: 2
Suppose there are two breakfast restaurants in your college town, waffle kingdom and flip’s flapjack...
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