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2 years ago

Which of the following statements regarding the income statement columns on the worksheet is false?

Business

1 answer:

Alex2 years ago

5 0

Unearned revenue is recorded as a liability on a company's balance sheet.

What is an income statement?

A company's revenues, expenses, and profitability are summarized in an income statement over time.

On a company's balance sheet, unearned revenue is recorded as a liability.

It is also known as a profit-and-loss (P&L) statement or an income statement.

It shows your revenue from selling products or services as well as your expenses for generating revenue and running your business.

Hence option b is correct as stated above.

Learn more about income statements here.
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scenarios as examples of elastic, inelastic, or unit elastic demand. When Ruko, a device used to stream movies at home, increase

kenny6666 [7]

Answer:

Elastic demand

Unit elastic demand

Inelastic demand

Explanation:

Elasticity of demand measures the degree of responsiveness of quantity demanded to changes in price.

Elasticity of demand = percentage change in quantity demanded/ percentage change in price.

Denand is elastic if when price is increased, the quantity demanded changes more than the increase in price. Quanitity demanded is more sensitive to changes in price.

If price is increased, the quantity demanded falls and as a result the total revenue earned by sellers falls.

The elasticity of demand is usually greater than 1 when demand is elastic.

Demand is unit elastic if a change in price has the same proportional change on quantity demanded. The coefficient of elasticity is equal to one.

If price is increased, the quantity demanded changes by the same proportion so there's no change in total revenue of sellers.

Demand is inelastic if a change in price has little or no effect on quantity demanded.

Coefficient of elasticity is usually less than one.

If price is increased, there is little or no change in the quantity demanded and as a result the revenue earned by sellers increase.

I hope my answer helps you

3 0

3 years ago

The following partially completed process cost summary describes the July production activities of Ashad Company. Its production

xeze [42]

Answer:

Units Transferred Out $ 663750

Work In Process Ending $ 30440

Direct Materials Costs $ 11.5 per EUP Conversion Costs$6.2 per EUP

Explanation:

Ashad Company

Weighted Average Method

Cost Of Production Report

Equivalent Units of Production

Direct Materials Conversion

Units transferred out 37,500 EUP 37,500 EUP

Units of ending work in process 2,000 EUP 1,200 EUP

Equivalent units of production 39,500 EUP 38,700 EUP

Costs Added

Direct Materials Conversion

Costs of beginning work in

process $13,450 $1,860

Costs incurred this period 440,800 238,080

Total costs $454,250 $239,940 

Costs per EUP

Direct Materials Conversion

$454,250/ 39,500 EUP $239,940/38,700 EUP

= $ 11.5 per EUP = $6.2 per EUP

Dividing the costs with EUP gives cost per EUP.

Costs Accounted For

Units Transferred Out $ 663750

Materials = $ 11.5 * 37500=$ 431250

Conversion= $ 6.2 * 37500=$ 232500

Total = $ 663750

Work In Process Ending $ 30440

Materials = $ 11.5 * 2000=$ 23000

Conversion= $ 6.2 * 1200=$ 7440

Total = $ 30440

Now adding the costs of Transferred out units and the ending work in process inventory equals the total of the costs added.

$ 663750+$ 30440 = $454,250 + $239,940

$ 694190 = $ 694190

8 0

3 years ago

According to expectancy theory, the three primary elements that determine how willing an employee is to work hard at tasks impor

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The three primary elements are INSTRUMENTALITY, VALENCE AND EXPECTANCY.
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3 years ago

A good file system depends on easy retrieval of information, so it is important that _______.

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3 years ago

A characteristic found only in oligopolies is products that are slightly different. interdependence of firms. break even level o

Delvig [45]

Answer:

The correct answer is the interdependence of firms.

Explanation:

An oligopoly market is a market structure where there are a few firms. these firms are interdependent. Price and output decisions of a firm affect its rivals. An oligopoly firm faces a downward-sloping demand curve.

In other market structures like monopolistic or perfect competition, the firms are not interdependent.

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3 years ago