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2 years ago

What terms best refer to anything that can be bought or sold?

Business

1 answer:

Savatey [412]2 years ago

7 0

The terms best refer to anything that can be bought or sold

goods and services

This is further explained below.

<h3>What terms best refer to anything that can be bought or sold?</h3>

Generally, The output of an economic system consists of things like goods and services.

While services consist of activities that are carried out for the advantage of the receivers, goods are physical products that are sold to clients. Products such as autos, home appliances, and apparel are all examples of goods.

In conclusion, The terms best refer to anything that can be bought or sold

goods and sevices

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Suppose that in 2017, a typical U.S. student attending a state-supported college bought 10 textbooks at a price of $110 per b

Tatiana [17]

Answer:

2017 Price Index is 100
2018 Price Index is 111

Explanation:

The Price Index for any given Base year is always 100. 2017 is staed to be the base year so it's price index is 100.

2018

The Student Price Index can be calculated using the formula;

SPI = $\frac{cost of basket of goods in the year of interest}{Cost of the basket of goods in the base year} * 100$

= $\frac{(10 * 120) + (30* 390)}{(10 * 110) + (30 * 350)}$ * 100

= $\frac{12,900}{11,600} * 100$

= 111.21

= 111

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3 years ago

A business initially sells their product to customers for $50. They find that many people are buying their product so they rise

pav-90 [236]

Answer: It will reduce in demand

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3 years ago

If a company uses the balance sheet approach to estimate bad debt expense, bad debt expense for a period can be determined by: M

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Answer: d. Taking the difference between the unadjusted balance in the allowance account and the desired balance of the allowance account.

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The balance-sheet approach for estimating bad debts expresses uncollectible accounts as a percentage of accounts receivable. That is, it takes the difference between the current balance of allowance for doubtful accounts and the amount calculated.

Therefore, if a company uses the balance sheet approach to estimate bad debt expense, bad debt expense for a period can be determined by taking the difference between the unadjusted balance in the allowance account and the desired balance of the allowance account.

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3 years ago

You are considering a job that offers a pension of 80% of your highest yearly salary prior to retirement. You expect your highes

lara31 [8.8K]

Answer:

1,120,000 dollars

Explanation:

The pension income is 80% out of current salary of 70,000 dollars, therefore 56,000 dollars. For this to be future retirement stream savings must be at a level of 1,120,000 dollars or 56,000/0,05. This strategy would assume 5% return on savings or investments and the lifestyle in retirement equal to pre-retirement period. This strategy would also assume no additional post-retirement income.

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3 years ago

Excerpt from Areojet Corporation records for month of February: Per Unit Per Month Selling price $ 200,000 Direct materials used

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Answer:

Work in process= $192,000

Explanation:

Giving the following information:

Direct materials used in production 40,000

Direct labor 10,000

Variable manufacturing overhead 2,000

Fixed manufacturing overhead $ 140,000

<u>The absorption costing method includes all costs related to production, both fixed and variable</u>. The unit product cost is calculated using direct material, direct labor, and total unitary manufacturing overhead.

Work in process= 40,000 + 10,000 + 2,000 + 140,000

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3 years ago