Answer:
the supply will decrease causing an increase in pricing on mattresses.
Explanation:
Monopolism occurs when only one supplier produces a product with no other competitors. They control the supply and price of commodities.
Since other mattresse sellers have closed shop, the final seller will have monopoly of the mattresse market.
In order to maximise revenue he will reduce supply and increase prices so that customers will have no choice but to buy the scarce mattresse at higher price.
Answer:
sales less cost of goods sold
Explanation:
Gross profit is the profit earned after after deducting the costs of goods sold from revenue
I hope my answer helps you
Answer:
The topics like what is ethics?, emerging of ethical values and why they are important in making a better society than before.
Explanation:
The reason is that not all the employees are well educated and professionals but ethics can be learned easily because it depends upon the judgement and doing good for others and yourself.
So the best thing is that you must start course with the introduction of ethics and then how ethical values emerged in the history and why are important for the society. This let them understand that acting ethical is very important because it provides safety to all of the individuals and creates better environment that we all desire.
Answer:
$3,650
Explanation:
Given that,
Assets = $107,000;
Liabilities = $37,000;
Common Stock = $67,000;
Retained Earnings = $3,000
Amount of net income:
= Revenue - Expenses
= $5,700 - $3,350
= $2,350
Closing retained earnings:
= Retained earnings at the start + Current year net income - Dividends paid
= $3,000 + $2,350 - $1,700
= $3,650
Therefore, the Golden's retained earnings at the end of the year is $3,650.
Answer:
One of the great dangers in allocating common fixed corporate costs is that such allocations can make a product line look less profitable than it really is.
Explanation:
Therefore, care must be exercised so that a product line is not eliminated because the common fixed costs have been allocated to it such that it becomes unprofitable. This is why it is necessary to identify activity cost pools into which such fixed costs can be accumulated and from which they can be allocated to product lines. Using ABC costing approach, for instance, offers a means of escape because the system tries to allocate costs based on the level of usage or consumption of such common costs by each product line instead of using arbitrary allocation formulas.
