Answer:
24.91%
Explanation:
The formula for return on investment is given as;
Net operating income / Average operating assets
= $1,071,160 / $4,300,000
= 24.91%
Therefore, return on investment is 24.91%.
The journal entry to record the purchase of materials on account in process cost accounting is an Increase in assets and an increase in liabilities. Option A. This is further explained below.
<h3>What is a journal entry?</h3>
Generally, In process cost accounting, a rise in assets and an increase in liabilities are recorded in the journal entry for the purchase of materials on account.
In conclusion, A journal entry is a kind of entry that is used in the accounting records of a company to record a transaction that occurred inside the company.
Read more about the journal entry
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Answer:
D. the price level is likely to rise as GDP rises.
Explanation:
The aggregate demand measures all the goods produced in an economy at a given price in a particular period.
When the aggregate demand increases, the aggregate demand curve shifts to the right. When aggregate demand increases, aggregate demand exceeds aggregate supply and aggregate price and output would increase.
Answer:
Quantity demanded of B/percentage change in price of A.
Explanation:
Cross price elasticity of demand is calculated as follows:
= Percentage change in quantity demanded for Good B ÷ Percentage change in price of good A
Cross price elasticity of demand is positive for the substitute goods and negative for the complimentary goods.
For Substitute goods:
It states that there is a positive relationship between the price of a good and the quantity demanded for its substitute goods.
For complimentary goods:
It states that there is an inverse or negative relationship between the price of a good and the quantity demanded for its complimentary goods.
