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arlik [135]
1 year ago
12

In economics, decisions are necessary because ________ are scarce, while ________ are practically unlimited.

Business
1 answer:
sasho [114]1 year ago
3 0

In economics, decisions are necessary because resources are scarce, while wants and needs are practically unlimited.

<h3>What is economic?</h3>

Economics examines how products and services are produced, distributed, and consumed as well as the decisions that people, corporations, communities, and countries make when distributing funds.

There are enormous people who are living in this world and all of them have some kind of need or want them to need to fulfill and also which means that there will be limited resources that will be available to them in the near future also.

Learn more about economics, here:

brainly.com/question/14355320

#SPJ1

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Bonita is considering changing jobs and plans to roll over the vested portion of her qualified retirement plan into either an IR
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Fill in the missing amounts.
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Let understand that the organized table are intended to calculate missing numbers on Income Statement for the two companies are drawn below.

  • Here, we are calculating missing columns for Monty Corp. and Whispering Winds Corp.

  • Also understand that the bold numbers are the columns calculated according to the question.

Particulars                             Monty Corp.    Whispering Winds Corp.

Sales revenue                         $90,000                $111,000

Sales return and allowance   <u>$6,000</u><u>  </u>                 <u>$5,000</u>

Net sales                                 $84,000                 $106,000

Cost of goods sold                 <u>$53,760 </u>                <u>$65,720</u><u>   </u>

Gross profit                             $30,240                 $40,280

Operating expenses               <u>$15,120 </u>                 <u>$19,080 </u>

Net income                              <u>$15,120</u><u> </u>                 <u>$21,200</u>

In conclusion, the formulae used to derived the bolded answers are:

  • Sales revenue - Net sales = Sales returns and allowance
  • Net sales - Cost of goods sold = Gross profit
  • Gross profit - Operating expenses = Net income
  • Net sales + Sales return and allowance = Sales revenue
  • Net sales - Gross profit = Cost of goods sold
  • Gross profit - Net income = Operating expenses

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