Answer:
$3,785
Explanation:
FIFO Inventory valuation method requires that the Inventory which is purchased first should be sold first and inventory Purchased at last should be sold at last.
As we know Gross profit is the Net of Sales and Cost of Goods Sold.
Sales $9,800
Cost of Goods Sold <u>($6,015)</u>
Gross Profit <u>$3,785</u>
All workings are made in an MS Excel File, which is attached with this answer Please find it.
Answer: E) Recoding
Explanation:
Recoding refers to the changing of a variable to better suit the needs for which the variable is being collected.
The variable's parameters can be redefined using recoding to either include more information or less so that the result can be more reflective of the situation on ground.
In mixing the lowest income category with the next lowest, recoding would have occurred.
Answer:mission and vision of the garage
Explanation: Mission — Provide excellent, on time service at a reasonable price Strategy — keep cost down by employing only the people you need Order parts when needed Advertise for business through word of mouth, fends, and referrals. 1- Goods and services design — prices are set on a per hour shop labour basis determined by a preset formula 2- Quality — certification is required to be employed at the shop Poor labour could negatively impact the reputation of the business 3- Process and capacity design — Business is laid out for the day by the shop manager, and done so on a per job basis Those jobs taking the longest will be started earliest in the morning 4- Location selection — The shop was chosen in a pre-existing building, on a busy street with lots of passing traffic for high exposure 5- Layout design — The layout of the work area is designed for easy access to tools and other necessity.
Answer:
The correct answer is B.
Explanation:
Savings and credit cooperatives or, simply, credit cooperatives are cooperative societies whose corporate purpose is to serve the financial needs of their members and third parties through the exercise of the activities of credit institutions.
Savings and credit cooperatives are also known for their acronym in English, SACCO: Savings and Credit Cooperative.
These cooperatives are usually local and seem to be more suited to rural areas. Above all they have access to external funds and they are properly managed. And although there is a World Council of Credit Unions (WOCCU) there are few local or rural cooperatives associated with it.
<u>Solution and Explanation:</u>
As the utility function is concave in shape, so person is risk averse. Thus, he will not accept the gamvle.
The difference between utility at point A&C = 70 minus 65 = $5, is less than a the difference between A&B = 65 minus 55 = $10
<u>MCQ:
</u>
Answer is option a&d - risk averse people fear a lot for losing money, thus they overestimate the probability of loss
Since, shape of utility function is concave, hence the double derivative of utility with respect to wealth is negative, so utility falls at an decreasing rate , as wealth increases
