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2 years ago

Review Key Concepts

Business

1 answer:

notsponge [240]2 years ago

3 0

Explanation:

1. Because marketing of goods must comply with current marketing practices. Trends and consumer perceptions must be maintained. It is important.

This refers to the acquisition, distribution, and marketing of goods, services or trademarks, such as advertisement and market analysis, and the production of the products for customers or end-users.

2. An example of an economic good and an economic service :

Economic goods: cars, furniture, television, and clothing

Economic services: cooking a hamburger, cutting hair

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Accrual accounting requires that the cost associated with the failure of credit customers to pay their bills should be recorded

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Answer:

Explanation:

Failure of credit customers to pay their bills is considered a bad debt in Accounting. This is recored as a bad debt expense in journal entries in the <em>period when the credit sale occurred</em>. This ensures that these bad debt expense matches the revenues earned during that period. In a company's financial statements, bad debt expense is recorded in the Income statement as <em>selling expenses.</em>

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3 years ago

2019 2018 2017 2016 2015 Sales $ 512,623 $ 332,872 $ 260,056 $ 191,218 $ 142,700 Cost of goods sold 253,785 164,657 130,427 95,5

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Answer:

Please find the complete solution in the attached file.

Explanation:

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2 years ago

Write a three- to five-sentence paragraph that defines economics. Based on your definition, explain why it is difficult to consi

erastovalidia [21]

Answer: See explanation

Explanation:

Economics is referred to as a social science that is concerned with how goods are produced, how they're distributed and how they're consumed. Economics is the social science that studies why human beings behave the way that they do.

It is difficult to consider Economics as a science because it lacks a hypotheses that's testable. Also, there is lack of consensus and the scientific method is not followed in Economics.

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2 years ago

Which of the following statements regarding PERT analysis is true? a. Each activity has two estimates of its duration. b. Projec

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Answer:

It's c.

Explanation:

Program Evaluation and Review Technique (PERT) is a method used in program management. It analyzes the time required to complete each task in a project and so tries to determine the minimum time to complete a project. It was developed by the US Navy in 1957.

In PERT analysis:

there are 3 time estimates for every activity: optimistic, pessimistic, and most likely
you have to find the Critical Path. The Critical Path is the longest path of scheduled activities that must be met in order to execute a project. It is important to know because any problems on the critical path can prevent a project from moving forward and be delayed. Therefore only critical activities can contribute to the project variance.

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2 years ago

Suppose that marginal propensity to consume is equal to 0.9 and the government increases its spending by $200 billion. This new

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Answer:

The answer is B.

Explanation:

Gross Domestic Product (GDP) is the total market value of all the final goods and services produced within a sovereign nation(country) during a given period of time usually a year.

Gross Domestic Product (GDP) can be calculated using expenditure method or income method or value-added method.

To analyze this question, expenditure method will be used. The formula is C + I + G + (X-M)

where C is the consumer spending

I is the business investments

G is the government spending

X is the exports

M is the imports.

Government has injected $200 billion into the economy through its spending.

This $200 billion is gotten from an increase in taxes, meaning consumers' disposable income has reduced by this amount.

Therefore, $200 billion will still be the incremental amount to the GDP

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3 years ago