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kaheart [24]
3 years ago
9

A television commercial advertises that a certain type of battery will last, on the average, 20 hours longer than twice the life

of another type of battery. if consumer tests show that the advertised battery lasts 725 hours, how many hours must the other type of battery last for the advertiser's claim to be valid?
Business
1 answer:
vladimir2022 [97]3 years ago
4 0
352.5 Hours to be exact

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What are the five key steps to applying the revenue recognition principle? 2. What are indicators that control has passed from t
LenKa [72]

Answer:

The Five Steps to applying the revenue recognition principle

1. Identify the contract with a customer.

2. Identify the performance obligation(s) in the contract.

3. Determine the transaction price.

4. Allocate the transaction price to the performance obligations.

5. Recognize revenue when (or as) each performance obligation is satisfied.

Indicators that Control has Passed from the Seller to the Buyer

A performance obligation is satisfied at a single point in time when control is transferred to the buyer at a single point in time. This often occurs at delivery. Five key indicators are used to decide whether control of a good or service has passed from the seller to the buyer. The customer is more likely to control a good or service if the customer has:

1. An obligation to pay the seller.

2. Legal title to the asset.

3. Physical possession of the asset.

4. Assumed the risks and rewards of ownership.

5. Accepted the asset.

Under what circumstances can sellers recognize revenue over time

<em>if at least one of the following three criteria is met: </em>

1. The customer consumes the benefit of the seller's work as it is performed,

2. The customer controls the asset as it is created, or

3. The seller is creating an asset that has no alternative use to the seller, and the seller can receive payment for its progress even if the customer cancels the contract.

6 0
4 years ago
Suppose a competitive industry faces an increase in demand​ (i.e., the demand curve shifts​ upward).
harkovskaia [24]

Answer:

Answer for questions 1 and 3:

If the total demand for a product increases, the demand curve will shift to the right, which will result in a price increase at every quantity demanded. Since the price of the product will increase, the suppliers will be making a higher economic profit. this in turn will make existing firms increase their total output, and other firms enter the market and start their own production. You must remember that on a competitive market with no entry barriers, the competing firms have $0 economic profit (not the same as accounting profit).  

Answer for question 2:

If the government imposes a price ceiling and it is lower than equilibrium quantity, then the firms' profits will decrease, which in turn will reduce their incentive to increase their output and it will also decrease the number of new firms entering the market. This will produce a deadweight loss resulting from a shortage of products that which will negatively affect customers.

6 0
4 years ago
Team planning is most effective when the group leader develops the overall plan and then solicits feedback from the group.
Anuta_ua [19.1K]
It is false that <span>team planning is most effective when the group leader develops the overall plan and then solicits feedback from the group. It must be the other way around. The role of the group leader is to stimulate ideas, facilitate discussions and summarize it all, to develop an overall plan that would make sense to the members.</span>
5 0
4 years ago
Haskins Company employs material handling employees who move materials between production divisions at a labor cost of $360,000
Marianna [84]

Answer:

correct option is a. $36,000

Explanation:

given data

labor cost = $360,000

move material per year = 600,000 pounds

to find out

material handling cost

solution

we find here first Labor Cost per pound of material that is express as

Labor Cost per pound of material = Labor Cost ÷ Number of Pounds of material   .......................1

Labor Cost per pound of material =  \frac{360000}{600000}

Labor Cost per pound of material = $ .6 per pound of material

=360000/600000= $0.6 per pound of material

so we can say that 60000 pounds are moved in March so cost will be

60000 pounds are move cost = 60000 × $0.6

60000 pounds are move cost = $36000

so correct option is a. $36,000

7 0
4 years ago
During 2020, Flint Corporation reported net sales of $5,490,000 and net income of $1,320,000. Its balance sheet reported average
koban [17]

Answer:

The asset turnover is 3.66 times

Explanation:

Asset Turnover is the efficiency rate of the assets of the business to generate revenue for the business. It shows how efficiently the assets of the business are used to generate revenue for the business.

Formula for Asset turnover is as follow

Asset Turnover = Net sales / Average total assets

Asset Turnover = $5,490,000 / $1,500,000

Asset Turnover = 3.66 times

It means that the sale for the period is generated to 3.66 times of average total asset of the business.

5 0
3 years ago
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