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2 years ago

_____ is the money a company earns from providing services or selling goods to customers.

Business

1 answer:

sdas [7]2 years ago

3 0

Revenue is the money a company earns from providing services or selling goods to customers

Revenue, which is determined as the average sales price multiplied by the quantity of units sold, is the money made from regular business operations. To calculate net income, expenses are deducted from the top line's (or gross income) total. In the income statement, revenue is referred to as sales.

A company's income is the cash that is generated by its operations. Depending on the accounting technique used, there are various methods for calculating revenue. Sales made with credit will be counted as revenue when it comes to the delivery of goods or services to the customer under accrual accounting. Even if payment hasn't yet been received, revenue may still be recorded in accordance with certain regulations.

To evaluate how successfully a business collects debt, it is important to review the cash flow statement for Revenue.

Learn more about Revenue here

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Economist Brown believes that changes in aggregate demand affect only the price level, and economist Black believes that changes

n200080 [17]

Answer:

Economist Brown : Perfectly Inelastic (Vertical) Aggregate Supply

Economist Black : Perfectly Elastic (Horizontal) Aggregate Supply

Explanation:

Economy is at equilibrium where : Aggregate Demand = Aggregate Supply.

Aggregate Demand is downward sloping curve, as aggregate demand is inversely related with price. Increase in AD shifts the AD curve rightwards.

Aggregate Supply is usually upward sloping curve, as it is directly related to price. However, as per given special cases by Economists Black & Brown, it is as undermentioned :

Black : AD increase (rightwards shift) increases only price if - Aggregate Supply is perfectly inelastic i.e non respondent to price & AS curve is vertical.

Real GDP is the total value of goods & services produced by an economy, valued at constant base prices. Increase in real GDP implies increase in production quantity.

Brown : AD increase (rightwards shift) increases only Real GDP (quantity) if - Aggregate Supply is perfectly elastic (infinitely respondent to price, so prices constant) & AS curve is horizontal.

4 0

3 years ago

The buyer and seller of merchandise must agree on who is responsible for paying freight terms. Show your understanding of freigh

Bas_tet [7]

Answer:

c,d and e

Explanation:

The correct statements given in the options are as stated below:

(c)-Terms FOB shipping point means the buyer accepts ownership when the goods depart the seller's place of business.

This is true because Free on Board shipping means that the seller bears no liability whatsoever once the goods are shipped.

(d)-When the shipping costs are the responsibility of the buyer, then the Merchandise Inventory account is debited for the freight charges.

This is true because Free on Board shipping means that the seller bears no liability whatsoever once the goods are shipped, hence the shipping costs are the buyers responsibility and will form part of the costs of the goods

(e)-Revenue for the sale will be recorded after the goods reach their destination, if the goods are shipped FOB destination.

This is true because Free on Board destination means that the seller bears all liability whatsoever till the goods are delivered, hence the revenue for the goods can only be recognized upon successful delivery

7 0

3 years ago

Prime Corp. has an ending balance in the accounts receivable account of $100,000. Prime recorded bed debt expense of $3000. Prim

Lelu [443]

Answer:

True

Explanation:

Prime's net realizable value of accounts receivable = accounts receivable balance - allowance for uncollectible accounts = $100,000 - $7,000 = $93,000

Bad debt expenses have already been debited, so they are no longer part of the allowance for uncollectible accounts.

5 0

3 years ago

Consumer ________ helps answer questions such as why people choose one product or brand over another, how they make these choice

neonofarm [45]

Answer: Behavior

Explanation: Consumer Behaviour is the way consumers respond to the purchase of a certain products and services, consumer behaviour is affected by various factors such as PRICE, QUALITY, QUANTITY,INCOME etc.

Certain consumers have specific interest in certain products or services, due to brand loyalty which has emanated from the consistent quality and other product features which they have enjoyed in such products.

6 0

3 years ago

Testbank Multiple Choice Question 81 At the beginning of 2020, Sunland Company issued 8% bonds with a face value of $5700000. Th

laila [671]

Answer:

$527,737

Explanation:

The Bond Payment or Coupon always includes the Interest Portion and the the Capital Potion. The question only requires the Interest Portion of the Bond.

The Bond Parameters can be set as :

PV = - $5,259,870

FV = $5,700,000

PMT = ($5,700,000 x 8%) ÷ 2 = $228,000

N = 5 x 2 = 10

YTM = 10 %

P/YR = 2

Constructing an amortization schedule for 2020 gives :

Date Capital Portion Interest Balance

June 30 $34,994 $262,994 $5,294,864

Dec 30 $36,743 $264,743 $5,331,607

Total $71,737 $527,737 $5,331,607

therefore,

The amount of interest expense to be reported for 2020 is $527,737

7 0

3 years ago