Answer:
TR decreases if Demand is Elastic, TR increases if Demand is Inelastic
Explanation:
Price Elasticity of Demand is the responsive change in price, due to change in price. Elastic demand means demand responds more to price change, Inelastic demand means demand responds less to price change. Total Revenue is the total receipt value from sales = Price x Quantity
- If demand is elastic : price & total revenue are inversely related - price increase, demand decrease & price decrease, demand increase.
- If demand is inelastic : price & total revenue are directly related - price increase, demand increase & price decrease, demand increase
So, If a company increases its sale price per unit of a product :
- Total Revenue would increase as a result of price rise, if demand is Inelastic
- Total Revenue would decrease as a result of price rise, if demand is Elastic
Answer: $22,000
Explanation:
The total revenue to be recognized by Italian Fine Dinning Inc. is the standalone selling price for the franchise services which is $88,000.
As this contract is for a four year period, Italian Fine Dinning Inc will have to recognize the above revenue over a period of 4 years.
Revenue in December 2020 will therefore:
= 88,000 / 4
= $22,000
<span>The Indiana state statute on abortion conflicts with the federal statute on abortion, the federal statute will overrule the state statue because any any state or local laws that either directly or substantially conflict with any federal laws will always be preempted by the federal law.</span>
Answer:
Depreciation - Income statement
Cost of goods sold - Income statement
Fixed assets - Balance Sheet
Inventory - Balance Sheet
Accumulated depreciation - Balance Sheet
Retained earnings - Balance Sheet
Taxes - Income statement
Sales - Income statement
Cash - Balance Sheet
Accounts payable - Balance Sheet
Explanation:
Depreciation - Income statement
Cost of goods sold - Income statement
Fixed assets - Balance Sheet
Inventory - Balance Sheet
Accumulated depreciation - Balance Sheet
Retained earnings - Balance Sheet
Taxes - Income statement
Sales - Income statement
Cash - Balance Sheet
Accounts payable - Balance Sheet