The correct answer is (b) Debit Income Summary $75,000; credit Revenues $75,000.
This is because option (b) is an incorrect closing entry as it debits the Income Summary account, which should only be credited with the total revenue earned during the period. The correct entry for closing the books would be to debit Income Summary $13,000 (which is the net income) and credit Owner's, Capital $13,000 to reflect the owner's equity in the business.
Option (a) is a correct closing entry, which debits Revenues for the total revenue earned during the period and credits Income Summary for the same amount.
Option (c) is also a correct closing entry, which debits Income Summary for the net income and credits Owner's, Capital to reflect the owner's equity in the business.
Option (d) is a correct closing entry, which debits Income Summary for the total expenses incurred during the period and credits Expenses for the same amount.
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For an auditor of an issuer, critical audit matters should be communicated in the critical audit matters section, which:
Immediately follows the Basis for Opinion section
Yes, critical audit matters should be communicated in the critical audit matters section, which immediately follows the Basis for Opinion section.
In the given question for an auditor of an issuer, critical audit matters should be communicated in the critical audit matters section and we have to find which Immediately follows the Basis for Opinion section.
Yes, that is correct. The critical audit matters section of an auditor’s report typically immediately follows the Basis for Opinion section. The critical audit matters section contains the auditor’s communication of any matters that the auditor believes are of most significance to those who use the financial statements.
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the degree to which a society's members expect power to be unequally shared ______
the extent to which a society relies on social norms and procedures to alleviate the unpredictability of future events_____
the extent to which individuals are encouraged and rewarded for loyalty to the group as opposed to pursuing individual goals ____ the extent to which people should take pride in being members of their family, circle of close friends, and their work organization ___ the extent to which a society should minimize gender dis _____
1. Institutional Collectivism 2. Power Distance 3. Performance Orientation 4. Future Orientation 5. Assertiveness 6. Uncertainty Avoidance 7. Gender Egalitarianism
8. In-Group Collectivism 9. Humane Orientation
"Power Distance" is the level at which a society's citizens anticipate an unequal distribution of power.
Explain about the Power distance?The degree to which a society recognizes or rejects an unequal allocation of power in organizations and society is known as the "power gap."
We anticipate finding tremendous regard for age, rank, and titles in societies with huge power distances, such as Japan. For an American traveler acclimated to a informality of a culture with a more modest power distance and used to utilizing first names plus casual attire in the workplace, this could provide issues.The level to which a society accepts or finds discomfort in risk, change, including situational ambiguity is known as uncertainty avoidance. One may anticipate seeing a preference towards structure, order, and predictability in societies with a high level of uncertainty avoidance, like France or Japan.Thus, "Power Distance" is the level at which a society's citizens anticipate an unequal distribution of power.
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The correct question is-
The degree to which a society's members expect power to be unequally shared ______
Given the list of accounts below, identify which of them would appear on a balance sheet: Utilities Expense, Rent Expense, Equipment, Cash, Rental Revenue
Equipment, cash, retained earnings, and accounts payable are the accounts that would show up on a balance sheet.
A balance sheet is what?The balance sheet, one of the three fundamental financial statements, is crucial to accounting and financial modeling. The balance sheet displays the total assets of the company along with the method of financing each asset, which might be either debt or equity. A statement of net worth or a statement of the financial situation are other names for it.
The basis for the balance sheet is the fundamental equation Assets = Liabilities + Equity. Thus, there are two sides to the balance sheet (or sections). On the left side of the balance sheet, the assets of the company are all listed. On the right side of the balance sheet, the company's obligations and shareholders' equity are listed.
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There are a lot of high school students who would like to work at breweries, but they are not hired due to minimum-wage laws.
Price floor or Price ceiling
Binding or non binding
There are a lot of high school students who would like to work at breweries, but they are not hired due to minimum-wage laws. This is the price ceiling
A price ceiling is the greatest cost that the government may charge for a commodity, whereas a price floor is the lowest price that must be paid for a commodity. Regulations governing minimum wages establish the lowest amount that businesses are required to pay their employees. In this case, high school students who want to work in breweries must be paid a base salary, which is set by the minimum wage law.
The objective of the minimum wage law is to ensure that workers receive a fair wage and ensure preventing companies from exploiting their employees by underpaying them. Some businesses may decide not to hire high school kids as a result of regulation as they cannot afford to pay them the base pay. Due to this, even students who are ready to work for less than the minimum may have trouble finding employment in breweries. In the given case, it could be argued that the minimum wage law discourages certain workers from finding proper jobs.
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Suppose identical price-setting duopoly firms have constant marginal costs of $25 per unit and no fixed costs. Consumers view the firms' products as perfect substitutes. The market demand is Q=200−p. In Bertrand equilibrium firm 1's price is $? and firm2's price is $?
In Bertrand equilibrium, both firm 1 and firm 2 will set their price at $25 per unit.
In Bertrand equilibrium, both firms will set prices equal to their marginal cost since consumers will always choose the lower-priced product. In this case, the marginal cost is $25 per unit.
The market demand is Q = 200 - p, which means that if the price is set at p, the quantity demanded will be 200 - p.
Therefore, each firm will set its price at $25 to capture half of the market demand, which is 100 units.
So, both firm 1 and firm 2 will set their price at $25 per unit.
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When a company discards machinery that is fully depreciated, this transaction would be recorded with the following entry:
a) debit Machinery; credit Accumulated Depreciation
b) debit Depreciation Expense; credit Accumulated Depreciation
c) debit Cash; credit Accumulated Depreciation
d) debit Accumulated Depreciation; credit Machinery
The correct entry when a company discards machinery that is fully depreciated is d) debit Accumulated Depreciation; credit Machinery.
When an asset has been fully depreciated, the carrying value of the asset is reduced to zero on the company's balance sheet. At this point, the asset has no residual value and is considered to have reached the end of its useful life. If the company disposes of the asset, the entry will reflect the removal of the asset's carrying value from the balance sheet.
The credit entry to the Machinery account will remove the asset from the balance sheet, and the debit entry to Accumulated Depreciation will reduce the balance in the contra-asset account to zero, reflecting that all depreciation expense related to the asset has been recognized.
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limiting a firm's ability to switch back and forth between alternative generally accepted accounting methods is driven by which of the following concepts/principles?
Limiting a firm's ability to switch back and forth between alternative generally accepted accounting methods is driven by Consistency of management process.
What does the management process entail?A sequence of processes known as the management process are utilized to carry out commercial activities. Planning, organizing, staffing, leading, managing, and assessing are all parts of the management process.
What number of management processes exist?The management process' four functions. The four primary management process functions are as follows. The planned, organizing, directing, and controlling stages are what are referred to as these. Each of these phases aids businesses and organizations in carrying out their aims and objectives successfully and efficiently.
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Complete question:
Limiting a firm's ability to switch back and forth between alternative generally accepted accounting methods is driven by which of the following concepts/principles?
ConsistencyConservatismObjectivityMaterialityFILL IN THE BLANK. Revenues are recognized when ___________ even when cash is collected in a different accounting period than the revenue is earned.
1) cash is collected
2) bills are paid
3) services are performed
4) customers prepay for goods/services
Option (c), Even though cash is received in a separate accounting period than the revenue is earned, revenues are still recorded when services are rendered.
if a profit was achieved but no money had yet been received?Since expenses are recorded when they are spent rather than when money is received, revenue is recorded as it is earned when using accrual accounting. Long-term planning is facilitated by this method, which provides a more precise picture of income and expenses than cash accounting.
are earnings that have been made but have not yet been received or recorded?Accrued income is the amount of money that has been made by providing a good or service but has not yet been paid for. Accrued revenues are recorded on the balance sheet as receivables to represent the amount that customers owe the business for the goods or services they purchased.
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frequent-flyer programs used by airlines focus on increasing the usage rate, and are an example of blank .
Frequency marketing refers to activities that drive repeat purchases through a formal program enrollment process and increase the loyalty and engagement of your customer base.
Can you give an example of frequency marketing?
One of the best examples of a perpetual frequency marketing program is an airline's frequent flyer program. The main target market is business travelers (members) who get benefits but whose employer covers the cost of the tickets they purchase.
What does the frequency example mean?
Frequency describes number of waves passing through a particular location in a particular time. So if the wave takes 1/2 second to travel, the frequency is 2 per second. If it takes 1/100th of an hour, the frequency is 100 per hour.
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When both the offeror and the offeree agree to all terms and conditions of the
contract, this is known as
When an offeror and an offeree agree to the contract, this is called an Agreement or Meeting of the Minds.
What is an agreement ?An agreement or meeting of minds is a concept in contract law that refers to a situation where both parties involved in a contract have a mutual understanding of the terms and conditions of the agreement.
This means that both parties have a shared comprehension of what they are committing to, and the agreement reflects their common intention. The agreement of meeting of minds is also known as mutual assent or mutual consent, and is a necessary requirement for the formation of a valid contract.
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Which of the following does the Fed use as a reliable measure for monitoring and controlling the money supply? Check all that apply. DAMI M2 M3 Identify whether each of the following examples belongs In MI, M2, or M3. If an example belongs in multiple categories, be sure to check multiple boxes. Example.Sam has $3,000 in a savings account. Neha deposits 10 million in an offshore bank account and plans to leave it there for 6 months. Lorenzo has a roll of quarters that he just withdrew from the bank to do laundry
Fed uses M2 and M3 as reliable measures for monitoring and controlling the money supply.
Sam's savings account belongs to M2, which includes savings accounts, money market deposit accounts, and small time deposits.Neha's offshore bank account does not belong to any of the three categories because M2 and M3 only include money within the United States. However, if Neha keeps the money in a foreign bank account denominated in US dollars, it would belong to M3, which includes large time deposits, repurchase agreements, and institutional money market mutual fund balances.Lorenzo's roll of quarters belongs to M1, which includes physical currency (coins and banknotes) and demand deposits (checking accounts).M1 is the narrowest definition of the money supply, which includes only the most liquid forms of money that can be spent immediately, like cash and demand deposits. M2 is a broader definition of the money supply that includes M1 plus near-money deposits, such as savings accounts and small time deposits.
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Fiesta LLC orders 1,000 balloons from Gas Bags Inc. for $1.00 per balloon. When the market decreases to .50 cents per balloon Fiesta refuses to go through with the deal. Gas Bags can recoverSelect one:a. nothing.b. $1,000.c. $500.d. $1,500.
Gas Bags can recover $500. Thus, option C is correct.
What is a market?A market consists of various structures, organizations, procedures, and processes that allow people to exchange commodities and services. The majority of marketplaces rely on purchasers providing their products or services to purchasers in exchange for payment, however, participants may move products by barter.
The information that is provided with respect to the Fiesta LLC
the order that was passed was for 1,000
The cost at that time was termed as $1.00
The amount then incurred will be 1000
The amount that will be after the decrease with then amount will be .050
The amount will now be
=1000 - 500
= 500
Therefore, option C is correct.
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a business receives $10,000 cash for a sale of merchandise and records this receipt of cash as an increase in accounts receivable by mistake. the accounting equation is still in balance.TrueFalse
When a company receives $10,000 in cash for the sale of goods and by accident records this cash receipt as an increase in accounts receivable, the accounting equation is still in balance.
What is an accounting equation?The accounting equation demonstrates that a company's total assets equal the sum of its obligations and shareholders' equity (assets = liabilities + equity). The foundation of double-entry accounting is the unambiguous relationship between a company's liabilities, assets, and equity.
The Accounting Equation: Why Is It Important?The connection between assets, liabilities, and equity the three parts of a balance sheet is captured by the accounting equation. When all else is equal, a company's equity will rise when its assets do, and vice versa. Increasing liabilities will result in a decline
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Which of the following items are normally included as key components of a corporation's annual report?
1. The report of the external auditor's examination of the financial statements
2. A five-year (or longer) summary of key financial data
3. The notes to the financial statements
4. A corporate structure chart showing line and staff reporting responsibilities of all key personnel employed by the reporting firm.
5. The reporting firm's operating budget for the next fiscal year.
The statements, 1, 2 and 3 are normally included as key components of a corporation's annual report
A company's annual report is the one it submits to its shareholders or investors each year. It is an account of the actions taken and the money earned in the year before the current one. The components included are -
The external auditor's review report of the financial statements is a crucial part of the annual report since it offers an unbiased assessment of the completeness and quality of the financial statements. This report, which is often created by an independent auditing firm, contains an assessment of the internal controls of the company as well as a judgement on the accuracy of the financial statements.To provide an overview of the company's financial performance over time summary of major financial data is frequently included in the annual report. This summary often contains various performance measures along with important financial figures like revenue, net income, and earnings per share.The annual report's notes to the financial statements, which give context and additional information, are a crucial part of the document. The notes provide information not found in financial statements like important accounting assumptions and judgements. It then specifics regarding the corporation's accounting standards.Read more about the annual report on:
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identify a regional economic organization or agreement in each of the following areas: latin america, asia/pacific, western europe, central europe, the middle east, and africa.
North America, Europe, the Middle East and Africa, Latin America, and the Asia Pacific are the regions into which the Goodyear tire firm is divided.
A business sector is a division that generates revenue through the sale of a product, a product line, or a service that is unrelated to the company's primary area of emphasis. The process through which a business separates its target market into smaller, more controllable pieces or units is known as market segmentation. The business does this in an effort to successfully target each target market. Goodyear tires' division can be used to identify market segments. A business sector is a segment of an organization that is distinguishable from others by the products, services, or business areas it provides. In other words, it's a division of a company that can be easily recognized from the total enterprise based on its customers, products, or services.
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Which one of the following will increase a firm's times interest earned ratio?A. An increase in debtB. A decrease in cost of goods soldC. An increase in interest expenseD. A decrease in net income
A decrease in cost of goods sold will increase a firm's times interest earned ratio. The correct option is B.
What is interest earned ratio?The times interest earned ratio, also known as the interest coverage ratio, measures a company's capacity to pay its debts' interest obligations. It is calculated by dividing income before interest and taxes by interest expense.
The ability of a business to make debt payments on time is gauged by the interest coverage ratio or times interest collected. EBIT or EBITDA divided by the total interest expense might be used to determine it.
The ratio of interest earned to cost of items sold will rise for a company.
Thus, the correct option is B.
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suppose the following items were taken from the december 31 2022 assets section of the boeing company balance sheet. (All dollars are in Millions)Inventory $15,840 Patents $11,980Notes receivable-due after December 31, 2023 4,950 Buildings 21,620Notes receivable-due before December 31, 2023 340 Cash 7,800Accumulated depreciation-Buildings 12,930 Account receivable 5,580Debt Investment (short-term) 1,580Prepare the assets section of a classified balance sheet (List the current assets in order of liquidity).
The value of the total assets section of a balance sheet would be $51,810.
What is a balance sheet?A balance sheet is financial statement that shows company's assets, liabilities, and equity at a specific point in time. It is divided into two sections, with assets listed on the left side and liabilities and equity on the right side. Assets include cash, investments, inventory, property, and equipment, while liabilities include debts, loans, and obligations owed to others. Equity represents the portion of the company's value that belongs to shareholders or owners. The balance sheet is an essential tool for understanding a company's financial health and is often used by investors, creditors, and analysts to evaluate the company's performance and potential risks.
Current Assets:
Cash 7,800
Short-term Debt Investment 1,580
Account Receivable 5,580
Notes Receivable-due before December 31, 2023 340
Inventory 15,840
Total Current Assets 31,140
Long-term Investments:
Patents 11,980
Property, Plant, and Equipment:
Buildings 21,620
Less: Accumulated Depreciation-Buildings (12,930)
Net Property, Plant, and Equipment 8,690
Total Assets $51,810
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Suppose the Fed announces that it is raising its target interest rate by 50 basis points, or 0.5 percentage point. To do this, the Fed will use open-market operations to....... (Increase/decrease) the...... (Deman for/Supply of) money by....... (Selling bond to/Buying bond from) the public.
Use the green line (triangle symbol) on the previous graph to illustrate the effects of this policy by placing the new money supply curve (MS) in the correct location. Place the black point (plus symbol) at the new equilibrium interest rate and quantity of money.
Suppose the following graph shows the aggregate demand curve for this economy. The Fed's policy of targeting a higher interest rate will......(Reduce or Increase) the cost of borrowing, causing residential and business investment spending to...... (Increase or Decrease) and the quantity of output demanded to...... (Increase or Decrease) at each price level.
Shift the curve on the graph to show the general impact of the Fed's new interest rate target on aggregate demand.
Consider a scenario in which the Fed announces a 50-basis point (or 0.5 percentage point) increases in its target interest rate. To do this, the Fed will use open-market operations to increase the supply of money by buying bonds from the public.
The grey star indicates that the interest rate was 0.5% before to the Fed's decision. The new junction of the money supply and money demand curves happens at an interest rate of 1.55% if the Fed is effective in lowering interest rates by 0.50 percentage points. Consequently, if the interest rate were 1.55 percent, you need to have drawn a green vertical line at the amount of money that individuals would desire.
You can see from the graph that this amounts to $0.7 trillion. The Fed will utilize open-market operations to purchase public bonds in order to expand the money supply. As the Fed purchases bonds from the general public, the amount of reserves in the banking system rises, increasing banks' capacity to extend credit.
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The outcome of a spin on the wheel is a discrete random variable. Consider X the dollar amount spun on the wheel, where Bankrupt and Lose a Turn =$0, and Free Play =$500. There are 24 wedges on the wheel. the probability the wheel is spun and lands on the given value, p(x). Round values to three decimal places. Question 2: ( 2 points) A contestant spins the wheel. What is the expected dollar amount they will win? Show your work. Hint: use the PMF from the previous problem to calculate the expected value of X. Question 3: (3 points) Suppose a contestant spins the wheel three times. How likely is it they will spin and land on $800 all three times? Show your work. Question 4: (3 points) Suppose a contestant spins the wheel three times. How likely is it that they will spin and land on $800 at least once? Show your work. Question 5: (1 point) What is the average dollar amount of the 1000 simulated spins. How does this compare to your answer in Question 2?
As shown in table 2,3 Probability that all 3 spins will land on $800 is 0.000579 ,4,Probability that in 3 spins, at least one will land on $ 800 is : 0.2297,5 =$668.650
Science uses a figure called the probability of occurrence to quantify how likely an event is to occur. It is written as a number between 0 and 1, or between 0% and 100%, when represented as a percentage. The possibility of an event occurring increases as it gets higher. An impossible event has a probability of 0, while a certain occurrence has a probability of 1. The probability that two complementary events A and B will occur when either A or B occurs sums to one.
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Ryan enters into a contract with Dave, the neighborhood grocer, to supply fresh vegetables daily. After four months, the grocery store expands its business considerably and attracts customers from the neighboring areas as well. As a result, Dave demands that Ryan triple his supply as he cannot keep up with the demand. Which of the following will apply in determining the amount that can be supplied in such circumstances? A) Rule of reasonable price B) Rule of requirements C) Rule of needs D) Rule of good faith of Fils
According to the law of supply and demand, demand declines as prices rise. Therefore, option D is the proper one.
Both the bulk of these countries' fast rising per capita incomes and the extremely rapid rates of population growth have an impact on this surge in demand. Due to the substantial expansion in wheat demand in China, the nation must import a large volume of wheat. Real income falls when the price of rice rises, which is followed by a predicted decline in consumption of all other products. In this regard, the poor may be significantly impacted by the rise in rice prices. One agricultural crop, rice, has seen a sharp increase in demand, according to recent study from the University of Arkansas System Division of Agriculture.
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Suppose that the U.S Department of Transportation imposes costly regulations on manufactures that cause them to reduce supply by one-third at any given price. Calculate the new supply schedule by filling by in the blanks in this table (quantities should include one decimal place. Based on your findings, identify the new equilibrium price and the new equilibrium quantity. Price of Truck Quantity of trucks demanded (millions) Quantity of trucks Supplied (millions) Quantity of trucks supplied after regulation (millions)
$20,000 20 14 25,000 18 15 30,000 16 16 35,000 14 17 40,000 12 18
The correct option is D. The new supply will become, and The new equilibrium price is $40,000.
In economics, monetary equilibrium is a scenario in which financial forces which include delivering and demand are balanced and in the absence of external impacts the (equilibrium) values of financial variables will not change. For instance, in the trendy textual content best competition, equilibrium occurs at the factor at which the quantity demanded and the amount provided is equal.
market equilibrium in this example is a circumstance in which a market price is hooked up via opposition such that the amount of goods or offerings sought by using customers is equal to the number of goods or offerings produced with the aid of dealers. This rate is frequently called the competitive charge or market clearing price and could tend no longer to trade unless demand or supply adjustments, and the amount is called the "competitive amount" or market clearing amount.
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Complete Question:
Suppose that the U.S. Department of Transportation imposes costly regulations on manufacturers that cause them to reduce supply by one-third at any given price. Calculate the new supply schedule by filling by in the blanks in this table (quantities should include one decimal place. Based on your findings, identify the new equilibrium price and the new equilibrium quantity. Price of Truck Quantity of trucks demanded (millions) Quantity of trucks Supplied (millions) Quantity of trucks supplied after regulation (millions)
A). $20,000
B). 25,000
C). 30,000
D). 35,000
E). 40,000
A box contains 4
red marbles, 6
white marbles, and 3
blue marbles. If a marble is randomly selected from the box, what is the probability that it is blue? Express your answer as a fraction or a decimal number rounded to three decimal places, if necessary.
The probability of selecting a blue marble is 0.231 (rounded to three decimal places) or 3/13 as a fraction.
What is probability?Generally, The probability of selecting a blue marble can be found by dividing the number of blue marbles by the total number of marbles in the box:
P(blue) = number of blue marbles / total number of marbles
P(blue) = 3 / (4 + 6 + 3)
P(blue) = 3 / 13
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Different studies have examined the extra costs of delaying college graduation by one year. Which of the following is true?
A.) If eventual retirement income is taken into consideration, the costs could be $82,074
B.) All of the above
C.) On average, the costs of additional tuition, textbooks, fees and interest on loans can range from $18,597 to $26,817
D.) Future lost earnings due to an extra year of college could end up costing $46,355
Procrastination is very much an emotional response to heading off duties we want to complete. In psychology, they name it undertaking aversiveness.
Triggering these emotions to prolong and put off responsibilities can come from any quantity of scenarios, some mundane, others that carry serious concern.
Which of the following factors fine explains why the college wage top rate is rising?The college wage top class is rising due to will increase in demand for college-trained people b/c of technology improvements.
Root motive analysis (RCA) is the technique of discovering the root causes of troubles in order to identify splendid solutions. RCA assumes that it is a lot more fantastic to systematically prevent and remedy for underlying issues rather than just treating ad hoc symptoms and putting out fires.
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Babar's Bakery made $200 last month selling 100 loaves of bread. This month it made $350 selling 70 loaves of bread. What is the price elasticity of demand for Babar's bread? /1
a. 0.266
b. 0.583
c. 0.776
d. 1.110
The price elasticity of demand for Babar's bread will be 0.266. Thus, the correct option is A.
The price elasticity of demand is the percentage change in the quantity which is demanded of a good or service divided by the percentage change in the price of the good. The price elasticity of this supply is the percentage change in quantity which is supplied divided by the percentage change in price.
ep = Change in quantity/ Change in price
ep = [tex](dQ/Q)/ (dP/P)[/tex]
where,
ep = price elasticity,
Q = quantity of the demanded good,
P = price of the demanded good
ep = (70-100/ 100)/ (350-200/ 200)
ep = (-30/100)/ (150/200)
ep = (0.3)/ (3/4)
ep = (0.3 × 4)/ 3
ep = 0.4 ≈ 0.266
Therefore, the correct option is A.
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in an ideal scenario, do you believe there were any impurities in the products (aside from water and acetone) of the vacuum filtration method? do you believe there were any impurities in the products of the evaporative collection method?if yes, be sure to state which impurities are in the products and use experimental evidence to support your answer, or use experimental evidence to support why you believe there are no impurities in the products.hint: it may be helpful to determine the phases of each substance at each stage of the reaction. you may find it helpful to refer to section 1.3 in your textbook.
We can see here that it is believable that in the vacuum filtration method, the impurities present in the product can depend on the nature of the starting material and the filtration medium used.
On the other hand, if the filtration medium is not selective, soluble impurities can pass through, leading to a contaminated product. To minimize impurities, it is important to choose a suitable filter medium, wash the product thoroughly, and analyze the purity of the final product.
What is vacuum filtration method?The vacuum filtration method is a laboratory technique used to separate a solid product from a solvent or liquid reaction mixture.
It involves filtering the mixture through a filter paper and a vacuum filtration apparatus, which applies suction to draw the liquid through the filter paper while leaving the solid behind.
Similarly, in the evaporative collection method, the impurities present in the product can depend on the nature of the starting material and the purity of the solvent used.
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A downward sloping, linear demand function exhibits:
a less elastic demand as output increases
b more elastic demand as output increases
c cannot be determined with information given
d Constant demand elasticity
As output rises, a downward-sloping, linear demand function displays a less elastic demand.(option a)
How does demand function work?A demand curve in economics is a graph that shows the link between the cost of a given good and the amount that is desired at that cost. Levels can increase can be applied to the price-quantity connection for either a specific consumer or for every consumer in a given market. The initial cost plus the cost of manufacturing make up the cost function. We received the demand function. Simply multiplying x even by demand function yields the revenue function. We are aware that marginal revenue and marginal expense must match in order to optimise profit.
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demonstrate your knowledge of preparing a post-closing trial balance by selecting the accounts below that would be included on it. (check all that apply.) multiple select question. income summary account asset accounts temporary accounts expense accounts liability accounts permanent accounts revenue accounts
The balances of temporary accounts are moved from temporary accounts to retained profits using the income summary.
How do you create a post-closing trial balance?After that, liabilities will come next, then assets, and equity will be the last item. On the post-closing trial balance's bottom line, totals for both the credit and debit columns will be determined.
What balances are shown on the post-closing trial balance?Just the permanent/real accounts—assets, liabilities, and equity—will be included in the post-closing trial balance. The closing entries would have zeroed out all other accounts (temporary/nominal accounts: revenue, cost, dividend).
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Katherine Chapman recently launched a firm in the clothing industry, targeting 13-17 year olds. One thing Katherine thinks she has accomplished is producing products that have universal appeal, so she will not vary her approach from country to country. Katherine is pursuing a _____ strategy.
A) universal
B) multidomestic
C) contemporary
D) global
E) home
Katherine Chapman recently launched a firm in the clothing industry, targeting 13-17-year-olds. Katherine is pursuing a global strategy. The correct option is d.
What is a global strategy?Global strategy as defined in business terms is an organization's strategic guide to globalization. Such a connected world, allows a business's revenue to not be confined by borders. A business can employ a global business strategy to reap the rewards of trading in a worldwide market. Academic research on global strategy came during the 1980s, including work by Michael Porter and Christopher Bartlett & Sumantra Ghoshal.
The International Classification of a global business strategy is employed by companies who may sell in foreign markets, but their primary focus is on their home market.
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identify which of the accounts below would be classified as a plant asset account. (check all that apply.) multiple select question. equipment cash machinery patent land used to produce or sell products and services supplies notes receivable due in two years building
The answer is equipment, machinery and used to produce or sell products and services supplies notes receivable due in two years building.
What is the best way to define "sale"?A sale is an agreement between a buyer and a seller in which the seller exchanges money for the sale of tangible or intangible products, assets, or services. There are two or more parties involved in a sale. A sale, or a contract between two or more parties, such as the buyer and seller, can be thought of in larger terms.
What does "sales" mean in the context of business?Sales in general business operations refer to any exchanges of money or value for the right to possess a good or get a service. Sales, in the context of accounting, refers to the income generated by a corporation via the selling of goods or services (net sales).
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compared to traditional one-person-one-vote majority voting, quadratic voting is (click to select) likely to yield socially efficient outcomes.
Quadratic voting is a method for making decisions collectively in which people vote to express the degree of their preferences rather than just their preferences' direction.
Quadratic voting attempts to address the Condorcet paradox and majority rule in this manner.
Which statement best explains what "one person, one vote" means?The concept of equal voting representation is exemplified by the expression "one man, one vote" or "one person, one vote." Promoters of democracy and political equality use this slogan, particularly in relation to electoral reforms like proportional representation and universal suffrage.
Who are the most likely demographics to vote?65 and older: People between the ages of 18 and 24 are least likely to vote, while people 65 and older are most likely to.
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