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2 years ago

The demand for ski rentals falls when the price of lift tickets increases. This is an example of?

1 answer:

5 0

The demand for ski rentals falls when the price of lift tickets increases. This is an example of Price Elasticity of demand.

<h3>What Is Price Elasticity Demand?</h3>

This refers to the relationship between the price of a commodity relative to the demand of that same commodity.

In other words Price elasticity of demand is a measure of how sensitive the quantity demanded is to its price.

When the price increase, quantity demanded for such product decreases. It is important to note that the fall in prices of some product is more than the others.

Learn more about Price Elasticity of Demand at brainly.com/question/5078326

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What are goods that consumers buy after making some effort to gather

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Answer:

B. Shopping goods

Explanation:

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3 years ago

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Dave's marketing research returned the finding that customers were staying away from his bookstore because of a lack of services

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Answer: Knowledge gap

Explanation:

The knowledge gap is one of the concept that helps in explaining the lack of knowledge about the specific concept and by identifying our own abilities, skills and knowledge we can easily identity our main factor of the lack of knowledge.

According to the given question, Dave is basically suffering from the knowledge gap as Dave is unaware about the fact that why people are satisfying away from his store.

Based on the marketing research method he analyze that due to the lack of various types of services such as no return policies, gift cards offers and also the various types of special discount offers the people shows no interest in his book store.

Therefore, Knowledge gap is the correct answer.

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3 years ago

Safety stock is inventory held to guard against uncertainty. True or False

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Answer: True

Explanation:

Safety stock is a particular level of inventory set by the inventory/store manager that the inventory must not go below in order to help the company never to run out of products in their inventory. The aim of safety stock is to ensure that a company's inventory would never be empty and also so that any given point buyers can always purchase products from the company

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3 years ago

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Pratt Corp. started the Year 2 accounting period with total assets of $37,000 cash, $15,500 of liabilities, and $12,000 of retai

yuradex [85]

Answer:

a) Revenue = $46,750

b) Stockholder's equity $35,050

c) Net Total Assets = Stockholder's equity = $35,050

d) Net cash generated for the year is $13,050; and Ending cash balance is $50,050

Explanation:

a. Prepare an income statement for the 2018 accounting period

To prepare this, cash revenue is first determined as follows:

Revenue = Retained earning for the year + Expenses + dividend = $46,750

The income statement can now be prepared as follows:

Pratt Corp.

Income statement

For the 2018 accounting period

Particulars $ 

Revenue 46,750

Expenses (29,500)

Net income 17,250

Dividend paid (2,700)

Retained Earnings for the year 14,550

b. Prepare a statement of changes in stockholder's equity for the 2018 accounting period

Pratt Corp.

Statement of changes in stockholder's equity

For the 2018 accounting period

Particulars $ 

Issue of common stock 8,500

Beginning retained earnings 12,000

Retained Earnings for the year 14,550

Stockholder's equity 35,050

c. Prepare a period-end balance sheet for the 2018 accounting period

Pratt Corp.

Balance Sheet

For the 2018 accounting period

Particulars $ 

Total Assets

Ending cash balance 50,050

Total Liability

Liability (15,500)

Net Total Assets  35,050 

Financed By:

Issue of common stock 8,500

Beginning retained earnings 12,000

Retained Earnings for the year 14,550

Stockholder's equity 35,050

Note: Since both the Net Total Assets and Stockholder's equity are both equal to $35,050 as normally require, it shows the balance sheet is accrurately prepared.

d. Prepare a statement of cash flows for the 2018 accounting period

Pratt Corp.

Statement of Cash Flows

For the 2018 accounting period

Particulars $ $ 

Net income 17,250

Cash flow from operating activities 17,250

Changes in Financing Activities:

Decrease in liability (10,000)

Issue of common stock 8,500

Dividend paid (2,700)

Cash flow from financing activities (4,200)

Net cash generated for the year 13,050

Beginning cash balance 37,000

Ending cash balance  50,050 

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4 years ago

Primary reason for holding inventory

mina [271]

The primary objective in terms of holding inventory is to ensure that customer service targets can always be met without compromising cash flow or running out of stock. When customers cannot purchase what they need, when they need it, they often cease to be customers

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3 years ago