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2 years ago

The recording of transactions and events is called:.

1 answer:

8 0

Record-keeping.

Explanation:

The definition of record keeping is keeping records, or units of preserved information. This information can also be kept in books, which brings us to another term; bookkeeping.

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The records of Lohse Stores included the following data: Inventory, May 1, at retail, $14,500; at cost, $10,440 Purchases during

bulgar [2K]

Answer:

$9,3

Explanation:

COST RETAIL RATIO

Inventory, May 1 $10,440 $14,500 .72

Purchases 31,550 42,900

Freight-in 2,000

Purchase discounts

(250)

Net markups 3,400

Net markdowns (1,300)

Totals excluding beginning inventory

33,300 45,000 .74

Goods available $43,740 59,500

Sales (46,500)

Inventory, May 31 $13,000

Estimated inventory, May 31

($13,000 × .72) $ 9,360

3 0

3 years ago

Identifying costs of inflation Van manages a grocery store in a country experiencing a high rate of inflation. To keep up with i

cricket20 [7]

This is an example of anticipatory change in the market and working accordingly.

Explanation:

The cost of inflation int he country that Van works in have risen up directly and this increase in the rate of change of inflation has led to volatility in the market.

SO he updates the prices every day and sends newspaper inserts advertising the new prices. This makes it better for him to deal with the inflation that is happening and fluctuating everyday.

This makes the functioning smooth in context of his daily dealings with costumers who need to be aware of what is happening in the market.

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3 years ago

The ____ agenda contains the Welcome and introductions to provide opportunity for team members to get to know each other and the

Step2247 [10]

Answer:

The Meeting Agenda

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3 years ago

Both perfectly competitive and monopolistically competitive firms charge a price equal to marginal cost.

natita [175]

Both perfectly competitive and monopolistically competitive firms charge a price equal to marginal cost True

What is a perfect competitive firm?

A perfectly competitive firm is a price taker, which means that it must accept the equilibrium price at which it sells goods. If a perfectly competitive firm attempts to charge even a tiny amount more than the market price, it will be unable to make any sales.

What is the advantage of perfect competition?

Markets experiencing perfect competition have very low barriers to entry. The advantage is for both customers and the total industry. There will be new entrants in the market which brings healthy competition to the industry. Also, consumers will not be a risk when a few companies get together and increase their prices.

What is monopolistic competition:

Monopolistic competition exists when many companies offer competing products or services that are similar, but not perfect, substitutes. The barriers to entry in a monopolistic competitive industry are low, and the decisions of any one firm do not directly affect its competitors.

What is monopolistic competition characteristics?

Monopolistically competitive markets have the following characteristics: There are many producers and many consumers in the market, and no business has total control over the market price. Consumers perceive that there are non-price differences among the competitors' products.

Learn more perfectly competition and monopolistic competetion:

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6 0

2 years ago

Mijka Company was started on January 1, 2018. During 2018, the company experienced the following three accounting events: (1) ea

lara [203]

Answer:

Explanation:

Income Statement

Revenue 32,800

Expenses (14,600)

Profit 18,200

Statement of changes in stockholders’ equity

Retained Earnings :

Profit for the year 18,200

Cash dividend paid (2,900 )

Retained earnings as at 31/12/18 15,300

Balance sheet

Current Asset :

Cash Balance ( 32,800-2900) 29,900

Stockholders' Equity :

Retained earnings 15,300

6 0

4 years ago