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alex41 [277]
3 years ago
7

Sally recently got a 15 percent raise. she now purchases 7.5 percent more steak dinners. sally's income elasticity for steak din

ners is
Business
1 answer:
QveST [7]3 years ago
7 0

The question has it that Sally recently got a 15 % raise, and that she now purchases 7.5 % more steak dinners. To calculate Sally's income elasticity for steak dinners, we would divide the percent change in quantity demanded by the percent change in income.


7.5 / 15 = 0.5


Sally's income elasticity for steak dinners is 0.5

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6 0
3 years ago
Opera Corp uses the periodic inventory system. For the current month, the beginning inventory consisted of 7,200 units that cost
Kryger [21]

Answer:

$159,057

Explanation:

The computation of cost of goods sold is shown below:-

Total cost of goods available for sale = (7,200 × $10) + (4,000 × $13) + (12,000 × $13.50)

= $72,000 + $52,000 + $162,000

= $286,000

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= 23,200

Average cost per unit = Total cost of goods available for sale ÷ Total units

= $286,000 ÷ 23,200

= $12.33

So,

Cost of Goods sold = Sold units during the month × Average cost per unit

= 12,900 × $12.33

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Therefore for computing the cost of goods sold for the month we simply applied the above formula.

3 0
3 years ago
Purchasing marketable securities with cash will have no effect on a company's acid-test ratio.
slava [35]

Answer:

given statement is true

Explanation:

given statement of purchase marketable security with the cash have not effect on the organization acid test ratio is true because

the cash and marketable security both will be considered for the calculation of acid test ratio and there is not effect

because change by the cash to the marketable securities

so as that given statement is true

3 0
3 years ago
Which is the correct sequence for recording transactions and preparing financial​ statements?
zheka24 [161]

Answer:

The answer is B.

Explanation:

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Followed by a ledger which may be a book containing accounts during which the classified and summarized information from the journals is posted as debits and credits.

Trial balance which is that the listing of all accounts (asset, liability, equity, revenue, expense) with the ending account balance or or its a report that lists the balances of all book accounts of a corporation at a specific point in time.

And lastly the financial statements. they're written records of a business's financial situation

8 0
3 years ago
Robert, who lives in Ohio, files a lawsuit against Trading Post, a Washington company, in an Ohio state court. The Trading Post'
ss7ja [257]

Answer: conducted substantial business with Ohio residents through the Web site.

Explanation: The sliding - scale standard confirms when exercising jurisdiction over an out of state defendant is allowed. It is only allowed when significant business has been conducted by this out of state company over the Internet with another state. In this case the out of state defendant is Trading Post, a Washington company, and it has dealt in transactions over the Internet with the state of Ohio via its website. Because the business conducted in Ohio is significant, it gives Robert the grounds to sue Trading Post, even though Trading Post is not based in the same state as Robert.

8 0
3 years ago
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