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3 years ago

Review Key Concepts

Business

1 answer:

notsponge [240]3 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

You might be interested in

"what is the difference between a static report and a dynamic report

andreev551 [17]

Each time a dynamic report is run, it gathers the most recent data in the Data Warehouse. Only the report definition, which remains the same over time, is stored. Static reports. Are run immediately upon request, and then stored with the data in the Completed Reports module. hope that helped

5 0

3 years ago

When Heavenly Cookies prices its sugar cookies at $1.00, they sell 75 cookies. They lowered the price to $0.50 and sold 200 cook

Serga [27]

Answer: Total Revenue is $100 and the price elasticity is 0.4

Explanation: total revenue is computed as Price * Quantity

$0.5 * 200= $100

Elasticity is the degree of responsiveness of quantity demanded to a change in price.

Old price $1

New price $0.5

Old quantity 75

New quantity 200

Formula- % change in quantity demanded / % change in pride

NB change is (old-new)

Change in Qd= (75-200) / 75 =-1.67

Change in price=(1-0.5)/1=0.5

-1.67/0.5= -3.34

The negative is ignored in price elasticity and the answer is 3.34 which means the product is Elastic

4 0

3 years ago

Vince’s Vehicle Repairs has a gross profit margin of 60% and a net profit margin of 22%. Turnover was £180000. Calculate:

sammy [17]

Answer:

Vince's Vehicle Repairs

The Cost of Sales is:

= $72,000.

Explanation:

a) Data and Calculations:

Turnover = $180,000

Gross profit margin = 60%

Net profit margin = 22%

Gross profit margin = Gross profit/Turnover * 100

60% = Gross Profit/$180,000 * 100

Therefore, the Gross Profit = $180,000 * 60%

Gross Profit = $108,000

Cost of sales = Turnover - Gross profit (100% - 60%)

Cost of sales = $180,000 - $108,000

= $72,000

Alternatively, Cost of Sales:

= $180,000 * (100% - 60%)

= $72,000

5 0

3 years ago

During Year 5, Tedd Co. became involved in a tax dispute with the IRS. At December 31, Year 5, Tedd's tax advisor believed that

kkurt [141]

Answer:

$400,000

Explanation:

Since at December 31, Year 5, Tedd's tax advisor believed that an unfavorable outcome was probable. And a reasonable estimate of additional taxes was $400,000 but could be as much as $600,000.

Although after the Year 5 financial statements were issued, Tedd received and accepted an IRS settlement offer of $450,000.

Tedd should have included an amount of $400,000 as accrued liability in its December 31, Year 5 balance sheet

The reason is that according to the International Financial Reporting Standards, a PROVISION must be made as long as the conditions below were obtainable at year end.

- Existing Condition (which in this case is the tax dispute with the IRS)

- Probable Cash Outflow (which Tedd's Tax adviser confirmed)

- Reliable Estimate of Outflow ( which the scenario stated ''A reasonable estimate of additional taxes was $400,000'')

Hence, such 'reasonable estimate is the appropriate amount for inclusion in the financial statements.

5 0

3 years ago

Last year, Stumble-on-Inn, Inc. reported an ROE of 19 percent. The firm's debt ratio was 60 percent, sales were $34 million, and

Sonja [21]

Stumble-on-Inn, Inc.'s net income for last year is $3,359,200.

<h3>Data and Calculations:</h3>

ROE (Return on Equity) = 19%

Debt ratio =60%

Sales = $34 million

Capital intensity = 1.30 times

Assets = $44.2 million ($34 million x 1.30)

The Total Debt = $26,520,000 ($44,200,000 x 60%)

The Equity = $17,680,000 ($44,200,000 - $26,520,000)

The Net income = $3,359,200 ($17,680,000 x 19%)

Thus, Stumble-on-Inn, Inc.'s net income for last year is $3,359,200.

Learn more about Net Income at brainly.com/question/21271689

5 0

2 years ago