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VARVARA [1.3K]
1 year ago
15

To use the _____ method, a company must maintain records of inventory and purchases at cost and at current selling price.

Business
1 answer:
rjkz [21]1 year ago
7 0

To use the retail inventory method, a company must maintain records of inventory and purchases at cost and at current selling price.

What is the Retail Inventory Method?

The retail inventory method is a method of accounting used to analyse the value of a store's merchandise. The retail method gives the ending inventory balance for a store by calculating the cost of inventory similar to the price of the merchandise.

What are benefits of the retail inventory method and how is it applied?

The main benefits  of the retail inventory method lies in its simplicity. It's a quick calculation that can give you an probable  of how much inventory you have. This can help  you in taking decisions when it comes to purchasing and budgeting.

Learn more about retail inventory :

brainly.com/question/24304410

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Vadim26 [7]

Answer:

Accounting profit - Your actual profit

Economic profit - Profit, but opportunity cost factored out

Explanation:

Accounting profit is how much you made (Revenue - Explicit Cost.

Economic profit includes implicit costs, or opportunity cost. If you could have made $100,000 at a different job, you subtract that. If Accounting-Economic profit is 0 or higher, you should stay in business.

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2 years ago
Rank the following items from most liquid to least liquid:
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5 Bill, Saving Account, US treasury Bond, google stock, Picasso Painting, House

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3 years ago
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A company's balance sheet shows: cash $28,000, accounts receivable $34,000, equipment $58,000, and equity $76,000. what is the a
fredd [130]
The amount of liabilities is $196,000
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3 years ago
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All of the following statements regarding a limited partnership subscription agreement are true except
USPshnik [31]

*A limited partner's signature on the subscription agreement grants the general partner power of attorney to conduct the partnership's affairs. The subscription agreement for a limited partnership is deemed accepted when the general partner signs the subscription agreement.

<h3>What is a subscription agreement for a limited partnership?</h3>

The subscription agreement, when executed by a limited partner, gives the general partner the authority to manage the business of the partnership. When the general partner signs the subscription agreement, it is considered approved for a limited partnership.

<h3>What does the general partner's signature on the subscription agreement mean?</h3>

The limited partners are given authority to manage the partnership's affairs by the general partner's signature. The subscription agreement, when executed by a limited partner, gives the general partner the authority to manage the business of the partnership.

<h3>What is a recourse note in a limited partnership?</h3>

Recourse notes obligate the limited partner to make payments regardless of what transpires. He is legally responsible for the $40,000, making his tax base and possible maximum loss $50,000.

A) manage partnership assets on behalf of the partnership as an agent. B) offer the limited partnership real estate.

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4 0
2 years ago
To have an effective marketing exchange process, you must make sure it involves a customer, a provider, a product, and a:
Travka [436]

Answer:

Transaction

Explanation:

Marketing exchange process refers to a process wherein two or more individuals buy or sell a good. Exchange refers to the consideration which is paid in return for the product i.e money.

For any exchange to take place it is essential that the good is transacted.

Customer would be the one who requires the product or the ones who create a want.

A Provider is the one who satisfies a want or say the one who makes the product available.

Product is the bundle of utilities or attributes which satisfies a want.

Transaction is effected when the buyer gets the product and the seller gets paid for the product.

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