Answer:
Equilibrium quantity of X increases and that of z decreases.
Explanation:
If two goods are substitutes then 1 can be used in the place of the other. As supply of Z falls, we would have market demand to be greater than supply. This brings about a price rise. The price rise will make consumers of Z to want it less and opt for a cheaper good X. Increase in the demand for X causes its supply to rise in the market.
So we would have increase in equilibrium quantity of X and that of Z would fall.
Answer: False
Explanation:
Activity based costing us when the activities of an organisation is classified. After the classification, the costs that are related to those activities will then be traced to the activities.
It should be noted that an activity-based costing system utilizes more cause-and-effect relationships when tracing costs than a traditional cost allocation system.
Therefore, the statement that's givenn in the question is false.
Financial situation and minster decided economic reform
Answer:
Equipment account increases , and cash decreases with same amount
Explanation:
In the case of acquisition of a new equipment , the equipment account is debited (increase) while the cash account is credit with the same amount of money used for the purchase .
Purchase of an equipment is a balance sheet item , which means it is recorded in the balance sheet and not the income statement as it is not an expense.
The asset register must also be updated with the value of the newly acquired item
