tom kemper is the controller of the wichita manufacturing facility of prudhom enterprises, inc. the annual cost control report is one of the many reports that must be filed with corporate head- quarters and is due at corporate headquarters shortly after the beginning of the new year. kemper does not like putting work off to the last minute, so just before christmas he prepared a preliminary draft of the cost control report. some adjustments would later be required for transactions that occur between christmas and new year’s day. a copy of the preliminary draft report, which kem- per completed on december 21, f
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The social responsiveness of a firm is referred to as ethics in management. It is the discipline that examines moral obligation and responsibility, as well as what is good and evil, right and wrong.
Examining Management EthicsIn other words, a set of moral precepts can be used to define management ethics. principles that direct a person's or a group's actions. It is a standard of behavior that directs the daily behaviors of managers and leaders. Corporate ethics are shaped by basic values. And it takes leadership to create an ethical culture. This is especially true of those leaders who exhibit honesty, harmony, and respect.
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Related Questions
Liang Company began operations in Year 1. During its first two years, the company completed a number of transactions involving sales on credit, accounts receivable collections, and bad debts. These transactions are summarized as follows.
Year 1:
Sold $1,346,200 of merchandise (that had cost $976,400) on credit, terms n/30.
Wrote off $20,700 of uncollectible accounts receivable.Received $670,500 cash in payment of accounts receivable.
In adjusting the accounts on December 31, the company estimated that 2.00% of accounts receivable would be uncollectible.
Year 2:
Sold $1,599,900 of merchandise (that had cost $1,304,800) on credit, terms n/30.
Wrote off $28,300 of uncollectible accounts receivable.
Received $1,219,300 cash in payment of accounts receivable.
In adjusting the accounts on December 31, the company estimated that 2.00% of accounts receivable would be uncollectible.
Required:
Prepare journal entries to record Liang’s Year 1 and Year 2 summarized transactions and its year-end adjustments to record bad debts expense.
Answers
Answer:
General Journal
Debit
Credit
a(1)
Accounts receivable
$1,349,100
Sales
$1,349,100
a(2)
Cost of goods sold
$977,100
Merchandise inventory
$977,100
b
Allowance for doubtful accounts
$18,100
Accounts Receivable
$18,100
c
Cash
$669,200
Accounts Receivable
$669,200
d
Bad Debt
Expense
[Refer working note 1]
$35,307
Allowance for doubtful accounts
$35,307
e(1)
Accounts receivable
$1,514,600
Sales
$1,514,600
e(2)
Cost of goods sold
$1,299,000
Merchandise inventory
$1,299,000
f
Allowance for doubtful accounts
$26,700
Accounts Receivable
$26,700
g
Cash
$1,110,700
Accounts Receivable
$1,110,700
h
Bad Debt
Expense
[Refer working note 2]
$36,507
Allowance for doubtful accounts
$36,507
.
.
Working note 1 - Computation of bad debt expense for the
year 1
Accounts receivables beginning balance
$0
Add: Credit sales
$1,349,100
Less: Collections
($669,200)
Less: Write-off's
($18,100)
Accounts receivables ending
balance
(a)
Legal authorization by a brand owner to allow another company to "rent" its brand name for a fee is called
Answers
Answer:
The appropriate answer is "License agreement".
Explanation:
A written agreement only between various firms where a property owner allows perhaps another entity throughout accordance with a certain set of requirements called a license agreement.In so far as it has jurisdiction, the consequence including its license is to terminate or ease the ruling of conflict. It should be the presumption that perhaps the license should be a province of security.
A couple wants to buy curtains for their living room. While they're searching for options online, they get a phone call from a friend who
recommends a particular brand. Which stage of the buying decision process is this?
Answers
Answer:
information search
Explanation:
They're searching for information from their friend
A _____ inventory system recognizes cost of goods sold each time a sale occurs; a _____ inventory system decreases inventory each time a sale occurs.
Answers
A perpetual inventory system updates inventory and cost of goods sold with every sale, while a periodic inventory system decreases inventory when a sale occurs
A perpetual inventory system recognizes the cost of goods sold each time a sale occurs. This system maintains a continuous record of inventory levels, updating them in real-time. Whenever a sale is made, the system automatically adjusts the inventory levels and updates the cost of goods sold accordingly.
On the other hand, a periodic inventory system decreases inventory each time a sale occurs. With this system, inventory levels are not continuously monitored. Instead, periodic physical counts of inventory are conducted at regular intervals, such as monthly or annually. The cost of goods sold is calculated by subtracting the ending inventory from the sum of the beginning inventory and purchases during the period.
In summary, a perpetual inventory system updates inventory and cost of goods sold with every sale, while a periodic inventory system decreases inventory when a sale occurs and relies on periodic physical counts to determine the cost of goods sold.
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the following events pertain to bills company: december 28, 2024 bills was contacted by a customer for possible accounting and tax services. december 30, 2024 bills signed a formal agreement with the customer to provide accounting and tax services in 2025. january 4, 2025 the customer paid $1,000 in advance for the services to be provided by bills company. january 11, 2025 bills provided accounting and tax services to the customer. using accrual-basis accounting, on which date should bills company record revenue for the accounting and tax services?
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According to accrual basis accounting, Bills Company should record revenue for the accounting and tax services on January 11, 2025.
Accrual basis accounting is a method of accounting in which revenue is recognized and recorded when it is earned, and expenses are recognized and recorded when they are incurred, regardless of whether the cash has been received or paid.
This is different from cash basis accounting, where revenue and expenses are recognized and recorded only when cash is received or paid.Using accrual-basis accounting, Bills Company should record revenue for the accounting and tax services on January 11, 2025.
This is because revenue should be recorded when it is earned, which is when the services are provided to the customer. On January 11, 2025, Bills Company provided accounting and tax services to the customer, so this is the date when the revenue should be recognized and recorded.
The fact that the customer paid $1,000 in advance for the services on January 4, 2025, does not affect the date on which the revenue should be recognized and recorded.
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This is for my class in finance
What is one way to minimize the impact of unplanned spending on a budget?
I will mark brainliest !!!
Answers
Answer:
1. Work with credit card companies. ...
2. Sell your stuff. ...
3. Earn extra income. ...
4. Take on a short-term money loan. ...
5. Re-budget to live below your means. ...
6. Ask for a paycheck advance. ...
7. Make sure you're prepared for next time.
the problem solving approach followed by an organizational buyer in a new task buying situation is: a. selective. b. extensive. c. cerebral. d. systematic. e. none of the answer choices
Answers
The problem solving approach followed by an organizational buyer in a new task buying situation is: b. extensive.
The required details about organizational buyer is mentioned in below paragraph.
Organizational buyers are people who represent an organization. When making purchases, these buyers frequently consider both their own tastes and the expected preferences of the customers to whom the organizational buyer's business will sell.. There are various types of organizational purchasers. Resellers are either wholesalers or retailers who purchase goods from one company and resell them to another. For instance, major grocery chains may purchase goods directly from producers and resell them to final customers.
The three different buy classes are: (1) new buy, where an organization purchases a good or service for the first time; (2) straight rebuy, where an organization purchases a good or service from a list of approved suppliers again; and (3) modified rebuy, where an organization's buying center modifies the good's specifications.
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How much money did Amazon make on Cyber Monday?
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This online shopping surge directly impacted Cyber Monday. Data from Adobe Analytics shows that customers spent $10.8 billion online during Cyber Monday.
Data in computing refers to information that has been converted into a format that is useful for transmission or processing. Data is information transformed into binary digital form for use with computers and transmission media of the present. Both the singular and plural forms of the subject data are acceptable. Computer science's analytics discipline looks for useful patterns in data using math, statistics, and machine learning. The process of analytics, also known as data analytics, entails sorting through enormous data sets to find, decipher, and share fresh information. Data analytics is the science of examining unprocessed data to draw inferences about that data. A company can increase productivity, maximize profit, or make better decisions based on data analytics to improve performance.
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8. An executive declares that his company has achieved an OEE of 115%. Is this possible?- Yes- No- Sometimes
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No, it is not possible for a company to achieve an OEE of 115%. OEE, or Overall Equipment Effectiveness, is a measure of manufacturing efficiency that ranges from 0% to 100%.
An executive claiming an OEE- Overall Equipment Effectiveness above 100% is incorrect, as the maximum achievable value is 100%. It is calculated by multiplying three factors: availability, performance, and quality. A score of 100% means that the manufacturing process is running at maximum efficiency with no downtime, no speed losses, and no quality defects. A score above 100% is not mathematically possible, and it indicates that the calculation is flawed or incomplete. Therefore, the executive's claim is not accurate.
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True or false, etiquete is a term for general rules of social behavior
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Answer:
The statement etiquette is a term for general rules of social behavior is true
Explanation:
Etiquette are the rules symbolizing the personal behavior in our society. The anticipated and appropriate social acts that are in accordance with the customs and norms followed by a community, a social strata, or an ethnic group typically take the shape of an ethical code.
Therefore, etiquette is a term for general rules of social behavior is true
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In times of economic uncertainty, yields on ________ bonds tend to rise and yields on ________ bonds tend to fall.
Group of answer choices
junk; AA rated
government; corporate
corporate; government
Treasury; municipal
Answers
In times of economic uncertainty, yields on government bonds tend to rise and yields on corporate bonds tend to fall.
When there is economic uncertainty, investors tend to seek safer investments, such as government bonds, which are considered less risky compared to corporate bonds. As a result, the demand for government bonds increases, driving up their prices and causing their yields to fall. Conversely, the demand for corporate bonds decreases, leading to lower prices and higher yields.
Government bonds, such as Treasury bonds, are backed by the government and are generally considered less risky because they have lower default risk compared to corporate bonds. On the other hand, corporate bonds are issued by corporations and carry a higher level of risk as they are dependent on the financial stability of the issuing company.
To summarize, during times of economic uncertainty, investors tend to favor government bonds, causing their yields to fall, while the demand for corporate bonds decreases, resulting in higher yields.
In times of economic uncertainty, yields on government bonds tend to rise, and yields on corporate bonds tend to fall.
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3. What is journalising? State the rules of journalising based on the types of account with examples.
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Answer:
One amount in the debit column must be equal to two or more amounts in the credit column or one amount in the credit column equals to two or more amounts in the debit column or under compound entry, a few debits will be equal to a few credits. The rule for journalising is the same as that of simple journal.
Explanation:
Journalizing is the process of recording a business transaction in the accounting records. ... Examine each business transaction to determine the nature of the transaction. For example, the receipt of a supplier invoice means that an obligation has been incurred.
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Mark as a brainlist.
rate my answer guys.
Thank you ❤️.
Explanation:
journalism is the practice of documenting a business translation account records
the rules of journalists are:-
1. debit purchase account and credit sales account.
2. debit expenses account and credit cash/bank account.
journatising example are:-
1. real account
2. personal account
3. nominal account
hope it helps you
thank you
How can being involved in extracurricular activities help you stand out on your college application?
Answers
Answer:
Extracurriculars such as clubs, community service organizations, and sports help you stand out on college apps because it shows you can handle more than just school. it also shows involvement in your school or community and dedication. not everyone is in an extracurricular so being in one makes you different from others.
Explanation:
Martin Company purchases $4,200 of merchandise on March 1, with credit terms of 3/10, n/30. lf Martin pays on March 9, what is the cost of this purchase?
$4,074
$3,780
$4,200
$3,864
Answers
It is essential to understand the dates and the related percentages. The credit terms of 3/10, n/30 mean that the buyer can get a discount of 3% if they pay the purchase price within ten days of the purchase date.
The total amount must be paid within 30 days of the purchase date. In this scenario, Martin Company purchased 4,200 worth of merchandise on March 1 with credit terms of 3/10, n/30.
If the company pays on March 9, it is within ten days of the purchase date and can get a 3% discount. Therefore, the cost of the purchase will be calculated as follows:
Purchase price = 4,200
Discount = 3% of 4,200 = 126
Amount to be paid = Purchase price - Discount = 4,200 - 126 = 4,074
the cost of the purchase when Martin Company pays on March 9 is 4,074.
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____________ and _____________ are both data reporting outputs that contain data visualization.
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Dashboards and reports are both data reporting outputs that contain data visualization.
What are these types of reporting outputs?A dashboard is a graphical user interface that displays data in a visual format, often using charts, graphs, and other data visualization tools. It allows users to quickly and easily monitor key performance indicators (KPIs) and metrics in real-time.
A report, on the other hand, is a document that presents information in an organized and structured manner, often including tables, charts, and other visual aids to help readers understand the data. Reports are typically more static and provide a more detailed analysis of data over a specific period of time.
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Describe the last time you made a purchase based on possession utility. What factors influenced your purchase?
Answers
Answer: price, reviews of the product, and the overall quality of the item.
Explanation:
Answer:
price, reviews, and quality
Explanation:
When demand decreases and the (upward sloping) supply curve remains in the same position, O A. price falls and equilibrium quantity rises. O B. price rises and equilibrium quantity rises. O C. price falls and equilibrium quantity falls. O D. price rises and equilibrium quantity falls.
Answers
Price increases, while the equilibrium quantity decreases. when demand declines and the supply curve (which is upward sloping) remains stationary
What a balance amount means?
When a product's quantity is balanced, neither it nor it's excess are present. The amount of a good that consumers desire to buy is equal to the amount that its producers are supplying when demand and supply converge.
Equilibrium quantity and price: what is it?
The only price at which consumer and producer plans align is the equilibrium price, which is attained when the quantities sought by consumers and supplied by producers, respectively, are equal. The equilibrium quantity is the name for this ubiquitous quantity.
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for each of the following indicate the type of fduciary fund in which it is most likely the fduciary activity should be accounted for and reported. 1. per a trust agreement a state maintains an investment pool in which governments within the state can temporarily invest the proceeds of tax exempt bonds that they have issued. the state will invest only in securities that would not violate irs arbitrage provisions.
Answers
Pooled Investment Trust Fund is the most likely type of fiduciary fund to account for and report the activity described, where a state maintains an investment pool for governments to temporarily invest the proceeds of tax-exempt bonds, adhering to IRS arbitrage provisions.
A Pooled Investment Trust Fund is a type of fiduciary fund that is established by a state or local government to pool the investment assets of multiple entities, typically governments within the state or locality.
The purpose of the fund is to provide a mechanism for governments to collectively invest their funds, such as the proceeds from tax-exempt bonds, in a professionally managed portfolio of securities.
By pooling their resources, governments can achieve greater diversification, economies of scale, and access to professional investment management services.
The fund operates under a trust agreement and follows specific investment guidelines to ensure compliance with regulatory requirements and maximize investment returns for participants.
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what is utility in business and marketing
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Answer:
Utility marketing is the concept whereby a brand intersects the consumer at the moment of a non-commercial need, addresses their need, becomes a part of their life, and remains with them for when they're ultimately ready to make a purchase.
On a loan of $32,000 at 7% interest for 6 months, how much do you wind up paying to pay off the loan?.
Answers
The amount to be paid at the end of the loan period will be $33,120. The rate of interest on the loan is given as per annum and hence the interest is to be calculated for 6 months.
Calculation of settlement amount of loan:Given:
\(\rm Principal &= \$32,000\\\\Rate &= 7\%\:per\:annum\\\\Tenure = 6\:months\)
Interest is calculated from the following formula:
\(\rm Interest = Principal\times Rate \times Tenure\)
Hence the interest for the loan will be:
\(\begin{aligned}\rm Interest &= \$32,000\times 7\% \times 6\: months\\\\&= 32,000 \times \dfrac{7}{100}\times \dfrac{6}{12}\\\\&= \$1,120\end\)
The final payment for the loan will be the combination of principal and interest.
Therefore final payment = $32,000 +$1,120
= $33,120
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A neighbor’s kid comes into your backyard and jumps on the trampoline without your permission or knowledge. He falls off and lands on his head, resulting in a week’s hospital stay.
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The first step should making sure such child receives proper medical attention. When he is well, we can have a conversation with the neighbor to prevent it from happening again..
What should be done in the event?It is very important to prioritize the child's health in this situation and once the medical attention has been sought, we can have a calm and respectful conversation with the child's parent to discuss the incident for future interactions.
One can also review any legal liabilities or insurance policies that could be involved. So, by taking proactive steps to prevent similar incidents in the future can help maintain positive relationships with neighbors while ensuring everyone's safety.
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How did Ray conduct marketing-information management?
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Suppose you wish to retire 38 years from today. You determined that you need $220,000 per year after you retire, with the first retirement funds withdrawn one year from the day you retire and that you will need to make 30 such withdrawals. Assuming that you can earn 5% per year on your retirement funds for the next 70 years.
C. How much is left in your account after you make your 22nd withdrawl?
Answers
Assume you want to retire in 38 years. With your initial retirement assets, you calculated that you will require $220,000 per year after retiring.
How does retirement work?
When someone retires, they quit the workforce permanently. The full retirement age in the United States is 67, and the early retirement age is 62. If you were born between 1943 and 1954, you can retire at the age of 66. If you were born between 1955 and 1960, your full retirement age will steadily grow until it reaches 67. Full retirement benefits are due at the age of 67 for everyone born in 1960 or later. The chart below shows the full retirement age by year of birth.
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Present and future values for different interest rates find the following values. compounding/discounting occurs annually. a. an initial $200 compounded for 10 years at 4% b. an initial $200 compounded for 10 years at 8% c. the present value of $200 due in 10 years at 4% d. the present value of $1,870 due in 10 years at 8% and at 4% e. define present value and illustrate it using a time line with data from part d. how are present values affected by interest rates?
Answers
a.The future value for the interest rate of 4% is $296.05
b. The future value for the interest rate of 8% is $431.78
c. The present value for the interest rate of 4% is $135.13
d. The present value $1,870 due in 10 years at 8% and at 4% is $869.76, $1263.51 respectively.
What is future value?The value of an investment at a given point in the future is known as future value, on the other hand.The worth of an asset at a future date is its future value. It calculates the nominal future sum of money that a certain amount of money is "worth" at a given point in the future under the assumption of a specific interest rate, or more generally, rate of return; it is the present value multiplied by the accumulation function. Investors and financial planners consider the future value significant because they use it to determine how much an investment made today will be worth.FV = P \((1 + r)^n\)
FV = Future value
P = Present value
R = interest rate
N = time
a. 200 x \((1.04)^{10}\) = $296.05
b. 200 x \((1.08)^{10}\) = $431.78
PV = f /\((1 + r)^n\)
c. $200/ \((1.04)^{10}\)= $135.13
d. $1,870 / \((1.08)^{10}\)= $869.76
$2515 / \((1.04)^{10}\) = $1263.51
e. The present and future value serve as the foundation for the time value of money idea. The value of an investment in the present day is its present value.
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In 2021, Ryan Management collected rent revenue for 2022 tenant occupancy. For financial reporting, the rent is recorded as deferred revenue and then recognized as revenue in the period tenants occupy rental property. For tax reporting, the rent is taxed when collected in 2021. The deferred portion of the rent collected in 2021 was $50 million. No temporary differences existed at the beginning of the year, and the tax rate is 25%. Suppose the deferred portion of the rent collected was $40 million at the end of 2022. Taxable income is $200 million.
Required:
Prepare the appropriate journal entry to record income taxes Iin 2022
Answers
Answer:
Dr Income tax expense $52.50
Cr To Income taxes payable $50.00
Cr To Deferred tax assets $2.50
Explanation:
Preparation of the appropriate journal entry to record income taxes Iin 2022
Based on the information given the appropriate journal entry to record income taxes Iin 2022
31-Dec-22 (in millions)
Dr Income tax expense $52.50
Cr To Income taxes payable $50.00
Cr To Deferred tax assets $2.50
($50-$10*25%)
(Being To record income tax expense)
HELPP! In 2011 the United States economy had a GDP of $14,991 billion according to the United Nations. If consumption was $10,729 billion, government spending was $2,594 billion, and net exports was -$568 billion, how much was investment spending?
Answers
The total amount of the investment spending is $2,236 billion.
What is an investment spending?An investment spending means the private domestic investment or capital expenditures.
The formula for Investment spending is I = GDP − C − G − NX.
Investment spending = $14,991 billion - $10,729 billion - $2,594 billion - (-$568 billion)
Investment spending = $14,991 billion - $10,729 billion - $2,594 billion + $568 billion
Investment spending = $2,236 billion.
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assume that autonomous consumption equals $200 and that the mpc equals 0.8. if disposable income equals $1,000, then total consumption equals a. $80. b. $200. c. $800. d. $1,000.
Answers
The total consumption when autonomous consumption equals $200, the MPC equals 0.8, and disposable income equal $1,000. Autonomous consumption represents the basic amount of consumption that occurs regardless of income level.
To find the total consumption, we will use the following formula:
Total Consumption = Autonomous Consumption + (MPC x Disposable Income)
Step 1: Identify the given values:
- Autonomous Consumption = $200
- MPC = 0.8
- Disposable Income = $1,000
Step 2: Plug these values into the formula:
Total Consumption = $200 + (0.8 x $1,000)
Step 3: Calculate the MPC multiplied by Disposable Income:
0.8 x $1,000 = $800
Step 4: Add Autonomous Consumption to the calculated value:
Total Consumption = $200 + $800 = $1,000
Therefore, the total consumption equals $1,000 (option D). In this scenario, autonomous consumption represents the basic amount of consumption that occurs regardless of income level. The MPC, or marginal propensity to consume, shows the portion of additional income that is spent on consumption.
In this case, 80% (0.8) of the disposable income of $1,000 is used for consumption, resulting in total consumption of $1,000 when combined with the autonomous consumption of $200.
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Madison wants to buy a car that will cost 15160 if Madison plans to save 1684 per month how many months will be necessary to save?
Answers
how would Americans cover a $400 emergency? personal finance answers
Answers
Answer: Sixty-eight percent of all adults said they would have covered the expense exclusively using cash, savings or a credit card paid off at the next statement. One in 9 even reported they wouldn't be able to cover a $400 emergency expense whatsoever
Explanation:
FILL IN THE BLANK. the two most common kinds of fdi include _______ and __________. __________ is the predominant form of fdi used by corporations.
Answers
The two most common kinds of FDI include horizontal and vertical FDI. Horizontal FDI is the predominant form of FDI used by corporations.
Horizontal FDI refers to investment in the same industry abroad as the one the company operates in domestically. It involves establishing subsidiaries or acquiring existing companies in foreign markets to expand the company's market share or gain access to new customers. Horizontal FDI allows companies to replicate their existing business model in different countries and leverage their core competencies and brand recognition.
Vertical FDI, on the other hand, involves investment in different stages of the production process across multiple countries. It can be categorized into two types: backward vertical FDI, where a company invests in activities that precede its main operations, such as raw material extraction or manufacturing components, and forward vertical FDI, where a company invests in activities that follow its main operations, such as distribution or retail.
While both horizontal and vertical FDI are common forms of foreign direct investment, horizontal FDI is generally more prevalent. This is because it allows companies to expand their market presence and exploit economies of scale by leveraging their existing business operations and expertise. Horizontal FDI also offers the advantage of reducing competition and increasing market power in foreign markets, making it a favored choice for corporations seeking international expansion.
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