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Questions in business

📝 Answered - A furniture company in the United States manufactured sofas using fabric made in South Korea, furniture frames made in Texas, and cotton stuffing made in China. The company didn’t sell the sofas in retail locations in Europe. Which of the following is an export for the US company in the scenario?

📝 Answered - The following amounts of income have been computed for Mr. Ramchand for the previous year ended on 31.3.25: a) Salary accrued and received in India ₹ 25,000 b) Profit from hotel business in Japan ₹ 50,000 c) Dividends declared in Japan received in India ₹ 10,000 Compute the total income of Mr. Ramchand for the relevant assessment year if he is an ordinary resident.

📝 Answered - The following table shows the expansion expenses of a business. Calculate the product growth costs of expansion. | | | | :-------------------- | :-------------------------------- | | **Expansion Expenses**| | | **Product Growth** | | | Focus Groups | 50 people at $195/person | | Inventory Expenses | 30% on $230,000 value | | New Equipment | $215,000 | | **Building Growth** | | | Architect | $15,500 | | Attorneys | $60,000 | | Bankers | $115,000 | Product Growth Costs = $ [?]

📝 Answered - Two supervisors, Justin and Sean, are given instructions to trim their group size by two people. Justin's personality tends to favor people. He is generally more sensitive to people and is a thoughtful supervisor. Sean is just the opposite. He is more concerned with group production and considers people's feelings secondary to the work. Hence their approaches in trimming their teams are different. They can't see each other's point of view and leave the discussion thinking ill of each other. Which of the following types of conflict are Justin and Sean experiencing? A) Personality conflict B) Functional conflict C) Intergroup conflict D) Cross-cultural conflict E) Programmed conflict

📝 Answered - a. Debts or financial obligations owed by a person or business. This includes money owed to suppliers, banks, or taxes owed. b. Anything a person or business owns that has monetary value. This could be cash, property, equipment, or even investments. c. The owner's claim on the business assets, essentially the difference between assets and liabilities. In simpler terms, it's the net worth. d. Income generated from selling goods or services. e. Money remaining after subtracting expenses from revenue (positive net income). f. Money owed to suppliers for goods or services received but not yet paid for. g. Also known as the profit and loss statement, this shows a company's revenue (income) and expenses over a specific period. h. The movement of cash in and out of a business. i. When expenses exceed revenue (negative net income). j. Costs incurred in running a business, like rent, salaries, or supplies. 1. Assets 2. Liabilities 3. Equity 4. Income statement 5. Revenue 6. Expenses 7. Profit 8. Loss 9. Accounts payable 10. Cash flow

📝 Answered - Indian companies follow which accounting standards: (A) IND AS (B) IFRS (C) US GAAP (D) GAAP

📝 Answered - Scheduling all your classes in a block of time without breaks is never an effective scheduling method. True False

📝 Answered - You're a wholesaler in the food industry. What is a crucial step you should consider for improving consumer trust? A. Ignoring regulations B. Focusing on product traceability C. Limiting product variety D. Investing in advertising only

📝 Answered - You are an independent Project Manager (PM) who has just been hired to turn around a failing project that the functional manager was charged with. The project team reports to the functional manager. It is your first week on the job.

📝 Answered - The following table shows the expansion expenses of a business. Calculate the product growth costs of expansion. | | | | :-------------------- | :--------------------------------- | | **Expansion Expenses** | | | **Product Growth** | | | Focus Groups | 40 people at $200/person | | Inventory Expenses | 20% on $280,000 value | | New Equipment | $235,000 | | **Building Growth** | | | Architect | $14,500 | | Attorneys | $68,000 | | Bankers | $115,000 | Product Growth Costs = $[?]