The forces underlying supply and demand interact to determine the market price.
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Explanation:</u></h3>
The persons involving in the activities of trading comprises the market system. It includes sellers, buyers and others involved in trading process. They also includes the buyers, consumers, producers who are the major players of the market system who determines the economic activity in it.
The supply and demand law is the major determinant of the production of goods and services in a market economy. The natural resources, land, capital and labor are the supplies. The purchasing power of the government, consumers and business are the demands. The forces underlying supply and demand interact to determine the market price.
Answer:
C) Inventory xxx Accounts Payable xxx
Explanation:
Accounts payable is a liability, and a liability always has a credit balance, as the amount is due to them. The company needs to pay them back.
Accordingly the company buys inventory and the inventory is an asset and thus, the company will debit the inventory account.
Whenever any purchases are made, or any service is utilized on credit then the company creates an accounts payable as a liability as against it.
<em />I think it is C but don't quote me on it.
Answer:
110
Explanation:
The consumer price index is an index that measures the inflation rate in a country. It tracks changes in prices for a basket of products and services in a country over time. CPI is calculated with a base year as the reference period.
The formula for calculating CPI with a base year is as below.
consumer price index=cost of the market basket in a given year x100
cost of a market basket at the base
In this case,
CPI = $ 55 x 100
$ 50
CPI = 1. 1 x 100
CPI =110
Answer:
Budgeted purchases in units for August are 6600 units
Explanation:
The budgeted purchases in units for August under the policy followed by the company will be as follows.
The units required to meet August sales are 6000 units.
The opening inventory in August will be 40% of August sales that is 0.4 * 6000 = 2400 units
Thus, the units need to be purchased in August to meet August sales = 6000 - 2400 = 3600 units
In August, we also need to purchase enough units to cover 40% of September sales. Units needed in August for September sales = 0.4 * 7500 = 3000 Units
Purchases in August = Purchases required to meet August sales - Purchases required to meet the desired ending inventory
Purchases in August = 3600 + 3000 = 6600 units
