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3 years ago

For a normal good, if the price of a substitute good decreases then:

Business

1 answer:

geniusboy [140]3 years ago

8 0

Answer:

(B) the demand curve shifts leftward while the supply curve stays the same.

Explanation:

"Substitutes are goods where you can consume one in place of the other. The prices of complementary or substitute goods also shift the demand curve. When the price of a good that complements a good decreases, then the quantity demanded of one increases and the demand for the other increases. When the price of a substitute good decreases, the quantity demanded for that good increases, but the demand for the good that it is being substituted for decreases. "

Reference: Khan Academy. “Price of Related Products and Demand.” Khan Academy, Khan Academy, 2019

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Classify the following item as belonging in the revenue, expenditure, human resources/payroll, production, or financing cycle:

Semmy [17]

Answer:

d. Establish a $10,000 credit limit for a new customer

s. Collect payments on customer accounts

r. Sell a DVD player

l. Sell concert tickets

a. Purchase raw materials

e. Pay for raw materials

o. Pay utility bills

Expenditure

c. Hire a new assistant controller

f. Disburse payroll checks to factory workers

k. Record factory employee timecards

n. Send new employees to a business ethics course

q. Pay federal payroll taxes

u. Pay sales commissions

Human Resources/Payroll

g. Record goods received from a vendor

j. Complete a picking ticket for a customer order

i. Decide how many units to make next month

v. Send an order to a vendor

w. Put purchased goods into the warehouse

Production

b. Pay off mortgage on a factory

h. Update the allowance for doubtful accounts

m. Draw on line of credit

p. Pay property taxes on an office building

t. Obtain a bank loan

Financial Cycle

Explanation:

6 0

3 years ago

Agent joh rogers is planning a formal marketing/sales event and has decided to place an adbertisment in the locla paper. what di

Nina [5.8K]

If Agent John Rogers has decided to run an ad in the neighborhood paper in advertisement with a formal marketing/sales event. Then he must specify that attendees without enrollment obligations may contact 555-555-1234 TTY to request accommodations for those with special needs at sales sessions.

The strategies and actions utilized in advertising are those that aim to draw attention to certain goods, services, viewpoints, or causes with the intention of influencing the public to act in a particular way. The majority of advertising promotes a product that is available for purchase, but comparable techniques are also employed to persuade people, among many other things, to drive defensively, donate to charity, or cast ballots for particular candidates.

The most significant source of revenue for the media outlets through which it is carried out is often advertising (such as newspapers, magazines, or television stations). Advertising has grown to be a significant and significant service industry in the noncommunist world.

Learn more about advertisement here

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7 0

1 year ago

At the beginning of 2014, Sabrina Company had the following normal ledger balances: Accounts Receivable: $24,000 Allowance for U

zimovet [89]

Answer:

$10,300

Explanation:

Accounts receivable, beginning = $24,000

Credit sales = $450,000

Cash collections from customers = $460,000

Accounts receivables written off = $3,700

Accounts receivables, ending = Accounts receivable, beginning + Credit sales - Cash collections from customers - Accounts receivables written off

Accounts receivables, ending = $24,000 + $450,000 - $460,000 - $3,700

Accounts receivables, ending = $10,300

So, at the end of the year, the balance in the Accounts receivable is $10,300.

7 0

3 years ago

Rolland Poust is a sophomore in the College of Business at Scandia Tech. Last semester he took courses in statistics and account

nikklg [1K]

Answer:

3.5

Explanation:

Grade point average (GPA) is the summation of all the numbered grades obtained divided by the number of credits taken or total obtainable points multiply by the maximum point receivable for a course. This can be calculated as follows:

1. Calculation of Total Obtainable Points

Statistics = A × hrs = 4 × 3 = 12

Accounting = A × hrs = 4 × 3 = 12

History = A × hrs = 4 × 5 = 20

History of jazz = A × hrs = 4 × 2 = 8

Rules of basketball = A × hrs = 4 × 1 = 4

Total obtained points = 12 + 12 + 20 + 8 + 4 = 56

2. Calculation of Total Points Obtained

Statistics = A × hrs = 4 × 3 = 12

Accounting = A × hrs = 4 × 3 = 12

History = B × hrs = 3 × 5 = 15

History of jazz = B × hrs = 3 × 2 = 6

Rules of basketball = A × hrs = 4 × 1 = 4

Total Points Obtained = 12 + 12 + 15 + 6 + 4 = 49

3. Calculation of GPA

GPA = (Total Obtained Points ÷ Total Obtainable Points) × the points that A receives (i.e. maximum GPA)

= (49 ÷ 56) × 4

= 0.875 × 4

= 3.50

Therefore, Rolland Poust's GPA is 3.5 out of 4.

The measure of location that has just been calculated is mean. The mean is obtained by adding all the values and then divide it by the number of values.

Grade point average (GPA) is similar to mean because GPA is the summation of all the numbered grades obtained divided by the number of credits taken.

6 0

3 years ago

The direct materials price variance is calculated asA) the difference in Actual Quantities (AQ) multiplied by the Actual Price (

Pachacha [2.7K]

Answer:

C) the difference in prices of the Actual Quantity Purchased (AQP) and the Actual Price (AP) multiplied by the Actual Quantity Purchased (AQP) and the Standard Price (SP) of the input purchased.

Explanation:

Direct Material Price Variance = (Actual Price - Standard Price) $\times$ Actual Quantity

Opening the brackets we have

Actual Price $\times$ Actual Quantity - Standard Price $\times$ Actual Quantity

therefore, from the options provided option C) is correct as Direct Material Price Variance is difference in Actual Cost and Standard Cost of Actual Units

Final Answer

C) the difference in prices of the Actual Quantity Purchased (AQP) and the Actual Price (AP) multiplied by the Actual Quantity Purchased (AQP) and the Standard Price (SP) of the input purchased.

4 0

3 years ago