Answer:
E. By providing a variety of products in one location
Explanation:
Assortment refers to different varieties of products and services a business creates, subsequently made available for sale.
Assortment is includes the number of product lines of a business, the number of products in a particular business line and how related the product lines are to one another.
Intermediaries are the ones who operate between manufacturers and customers and all parties who are involved in the transfer of products from the place of manufacture to their ultimate delivery to the customers.
Intermediaries are basically wholesalers, retailers, agents, etc.
With assortment, the intermediaries provide different types of products i.e assorted products, making them available at one single place, removing the barrier of place, thereby creating efficiency for both manufacturers and customers.
Answer:
Hodge Company
Calculation of Estimated Loss on Inventory in the
Flood Using Gross Margin (Profit) Method
November 21, 2016
Inventory at November 1, 2016 $96,000
Purchases from November 1, 2016 <u>$131,000</u>
to date of flood
Cost of goods available for sale $227,000
<u>Estimated cost of goods sold:</u>
Net sales from November 1, 2016 $250,000
to date of flood
Less: Estimated gross margin <u>$75,000</u> <u>$175,000</u>
(250,000 * 30%)
Estimated cost of inventory at date of flood $52,000
Less: Salvage goods <u>$9,200</u>
Estimated loss on inventory in the flood <u>$42,800</u>
Answer:
The correct equation is
*income – income tax = disposable income
Explanation:
Disposable income shows the income that can be used for personal uses after the mandatory income taxes are paid to the government.
Disposable income is an important concept in economics as it allows to reasonably deduce how the income taxes has to be adjusted and how the taxes will effect the consumption and savings by the individuals.
More disposable income for individuals generally means that person may have a higher standard of living. But if most of that income is spent on consumption rather than savings and investing, then the economy loses its advantage.
Answer:
The answer follows below;
Explanation:
Sales=$1,000,000
Allowance for Doubtful Accounts=$1,000,000*1%=$10,000
Bad Debt Expense Dr.$10,000
Allowance for Bad Debts Accounts= Cr.$10,000
In sales % method, we record only % of sales as uncollectible.
Answer:
Law and Economics
Explanation:
Based on the information provided within the question it can be said that the school that is being described is the Law and Economics School of Jurisprudential thought. They promote market efficiency mainly due to the fact that they believe that markets are more efficient than the courts are in this modern world.
