Here we have not been given the answer choices. However, we can see that these choices are: 2/10 net 30, 2/5 net 30, 2/5 net 20, 1/10 net 45, 1/5 net 15
Here we are to select the best one if you want to forgo the discount. Since you want the discount to be forgone, we will select the plans that offer the least discount which are options 4 and 5 1/10 net 45 and 1/5 net 15.
Net out of these two, the 1/10 net 45 gives you discount of 1% for 10 days with total payable in 45 days and the other one gives you a 1% discount in 5 days. So we would like to select the one with most number of days without discount and this would be 1/10 net 45 and would give you a total of 45 days to pay the credit as against only 15 days in other option.
Hence the option which best suites is 1/10 net 45.
Answer:
The strategic role of premium pricing is to create the perception that the products is superior to other competing products.
Explanation:
A premium pricing sets the price of a product higher than competing products. This strategy will automatically make the product stand out.
The economic circumstances that would encourage this pricing strategy include high demand for this particular product as well as a larger addressable market for it.
Generally speaking, increasing the price will also create better customer service, PR and clout. That will create an emotional connection with potential customers.
Creating and maintaining a premium brand with a steady and increasing premium patronage is the goal as suggested by Mark Williams for Roast Coffee.
Answer:
d. mostly relevant to the long run.
Explanation:
In economics or financial accounting, money can be defined as any asset used by an individual or business entity to make purchases of goods and services at a specific period of time.
Simply stated, money refers to any asset which can be used to purchase goods and services by customers.
This ultimately implies that, money is any recognized economic unit that is generally accepted as a medium of exchange for goods and services, as well as repayment of debts such as loans, taxes across the world.
Additionally, the rate at which an asset can be used to purchase any goods or services refers to its liquidity. Thus, liquidity is a quality or characteristics of money as a medium of exchange. Therefore, money is a generally accepted medium of exchange around the world.
The three (3) main functions of money all over the world are;
I. Medium of exchange.
II. Unit of account.
III. Store of value.
The principle of monetary neutrality typically based on the idea that changes in any stock of money would affect only nominal variables such as exchange rate, wages and price in the economy of a particular country.
Most economists believe the principle of monetary neutrality is mostly relevant to the long run.
Answer:
C) II and III
- Act as a dealer
- Charge a mark-up or a mark-down
Explanation:
Dealers can purchase and sell securities on their own accounts, this is called position trading. When they carry on this type of transactions, they charge markups instead of commissions.
Brokers act like agents, and they can only arrange a transaction between clients and they charge a commission for their work.
Answer:
The journal entries are as follows:
(a) On April 1, 2015
Notes receivable A/c Dr. $7,000
To Service revenue $7,000
(To record provide services to customer on account)
(b) On June 1, 2015
Notes receivable A/c Dr. $11,000
To Cash $11,000
(To record company lends to one of the vendors)
(c) On November 1, 2015
Notes receivable A/c Dr. $6,000
To Accounts Receivables $6,000
(To record accepts payment for prior services)
