Answer:
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Answer:
A technological discontinuity
Technological discontinuity could be described as a' breakthrough innovation advancing the state-of- the-art technological order that characterizes an industry'
Answer:
b.
Explanation:
The company sold 6 advertising spaces that would run from July to December for $400 each.
Total amount received for selling 6 advertising spaces = 6×$400
Total amount received for selling 6 advertising spaces = $2,400
The advertising spaces will run for 6 months i.e., July to December.
So, adjusting entry on 31st July would record the revenue earned for 1 month only.
Total revenue = $2,400
No. of months = 6
Revenue for 1 month = $2,400/6
Revenue for 1 month = $600
Thus, journal entry on receipt of cash as well as adjusting journal entry has been shown below:
Answer:
(A)
cash 85,000
unearned revenues 85,000
(B)
unearned revenues 40,000
subscroption revenues 40,000
Explanation:
(A)
Unearned revenues are a liability. It increases from the credit, so in this entry, we increased cash by the amount received and also increase unearned revenue for 85,000
WHY ARE LIABILITIES?
The payment made by customer in-advance generates an obligation to the NYT. The journal is forced to deliver their newspaper to these people, it has an obligation, which is certain and quantifiable in dollars, that fits in the definition of liabilities.
(B)
HOW UNEARNED BECOME EARNED?
Once time past AKA newspapers are delivered, the obligation decrease and part of the annual subscription become revenues
Answer:
1. This is true because demand in market A is more inelastic which means demand curve and marginal revenue curve are steeper in this market. at any quantity marginal revenue will be higher in market A than in market B
2. This is true because market where demand is inelastic have a higher price. This is because revenue is increased when higher price is charged in market with inelastic demand.
3. This is false/uncertain because when price is higher in market a the quantity will be lower relativity. This is due to the downward sloping demand function in which price is increased quantity will decline.
Explanation:
