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3 years ago

Why is the cost of goods sold account part of a trading business only?

Business

1 answer:

Lisa [10]3 years ago

5 0

Answer:

Yes costs of goods sold is peculiar to those businesses dealing in tangible items

Explanation:

For a service company there is no costs of goods sold because no goods were purchased for resale.The major costs found in the cost structure of a service outfit is manpower costs,since people with requisite knowledge form the main reason for business existence

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Suppose the price level and value of the U.S. Dollar in year 1 are 1 and $1, respectively. Instructions: Round your answers to 2

Nookie1986 [14]

Answer:

0.74

Explanation:

Data provided in the question

Price level = 1.35

According to the given situation, the computation of the new value of the dollar is shown below:-

The New value of the dollar = 1 ÷ Price level

= 1 ÷ 1.35

= 0.74074

= 0.74

Therefore for computing the new value of the dollar we simply applied the above formula.

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3 years ago

The Martinez Legal Firm (MLF) recently acquired a smaller competitor, Miller and Associates, which specializes in issues not pre

Vsevolod [243]

Answer:

increase

Explanation:

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The Martinez Legal Firm acquired a competitor so their business size will increase for sure. Larger businesses will become more complex and need more management. These will, in turn, increase the internal transaction cost.

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yaroslaw [1]

Answer:

(E) that prices of gasoline and heating oil will stay higher than usual through

Explanation:

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3 years ago

Other things the same, if the interest rate falls, then a. firms will want to borrow more, which increases the quantity of loana

Svet_ta [14]

Answer: (a).

Annexure: <u>Since a part of the information was found missing in the question, a similar question has been provided as an attachment for reference. </u>

If the interest rate falls with other things remaining constant, a firm would like to raise more money via debt instruments.

This will lead to an increase in the quantity of loanable funds demanded.

This would further lead to increase in the level of invested funds by the public as it would get cheaper for the corporates to avail loans.

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3 years ago

Bob manages a grocery store in a country experiencing a high rate of inflation. To keep up with inflation, he spends a lot of ti

Kitty [74]

Answer:

A. Menu Cost

Explanation:

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3 years ago