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blsea [12.9K]
3 years ago
11

When the price of a good is high, selling the good is profitable, and so the quantity supplied is large.

Business
1 answer:
STatiana [176]3 years ago
6 0
False, since higher prices pushes away consumers but lower prices increases consumers.
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In a limited partnership, the general partners should encourage the limited partners to take a more active role in the operation
Lemur [1.5K]

Answer: False

Explanation:

A limited partnership is a form business partnership formed by at least one general partner and at least one limited partner(also known as the silent partner).

The general partner is responsible for the supervision of the daily operations in the business and also personally bears the liability of the business: while the limited partner only role in the business is to support the business with capital and shares in the business profit but doesn't personally carry the burden of the business liability.

7 0
3 years ago
At the beginning of the year, Bryers Incorporated reports inventory of $7,700. During the year, the company purchases additional
SVETLANKA909090 [29]

Answer: $20,700

Explanation:

beginning inventory (X)  = $7,700

purchased additional inventory (Y) = $22,700

ending inventory (Z) = $9,700

So first, we have to calculate Cost of goods available for sale (A), we add  beginning inventory (X) and purchased additional inventory (Y)

A = X + Y

A = 7,700 + 22,700

Cost of goods available for sale (A) = 30,400

NOW to get our Cost of goods sold for the year (B), we subtract ending inventory (Z) from cost of goods available for sale (A)

B = A - Z

B = 30,400 - 9,700

B =  20,700

therefore the cost of goods sold for the year is $20,700

8 0
3 years ago
A company’s normal selling price for its product is $28 per unit. However, due to market competition, the selling price has fall
Marrrta [24]

Answer:

$5,880

Explanation:

The computation of the value of inventory at the lower of cost or market value is shown below

= Number of units purchased × lower per unit

= 280 units  $21

= $5,880

Since the lower value per unit is $21 among all given per unit value and the same is to be considered

All other information which is given is irrelevant. Hence, ignored it

3 0
3 years ago
Below table represents buyers’ willingness to pay for a roasted chicken and consider that there is only one supplier whose cost
frez [133]

Answer:

$13

Explanation:

total consumer surplus = ($10 - $6) + ($7 - $6) = $4 + $1 = $5

total supplier surplus = ($6 - $2) x 2 units = $4 x 2 = $8

total surplus in the market = consumer surplus + supplier surplus = $5 + $8 = $13

Since the price is higher than Chuck's willingness to pay, no transaction will occur resulting in 0 surplus.

3 0
3 years ago
An accountant may compile a nonissuer's financial statements that omit all of the disclosures required by GAAP only if the omiss
I am Lyosha [343]

Answer: B) Only I

Explanation: The first rule regarding reporting requires that the auditor indicate in his report whether the financial statements were prepared in accordance with the generally accepted GAAP accounting principles. The term "accounting principles" used in the first information standard shall be understood to cover not only accounting principles and practices but also the methods of their application at a particular time. There is no comprehensive list of GAAP, since both written and oral principles are accepted in accounting.

6 0
3 years ago
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