All business strategies seek to gain competitive advantage. <br> a. True <br> b. False

Suppose nominal GDP is $2,000 a year and the quantity of money is $400. Then the velocity of circulation equals

ahrayia [7]

Answer: 5

Explanation:

The velocity of circulation is the average number of times that each dollar can be used for the purchase of goods and services in a year.

From the information given in the question, the velocity of circulation will be:

= Nominal GDP / Quantity of money

= $2000 / $400

= 5

Therefore, the velocity of circulation is 5.

3 0

2 years ago

This information relates to Sunland Company for the year 2017. Retained earnings, January 1, 2017 $83,080 Advertising expense 2,

babymother [125]

Answer:

Net Income : $16.616

Retained Earnings: $92.256

Please see details below:

Explanation:

Income Statement 2017

Sales $71.920

Advertising Expenses -$2.232

Miscellaneous Expenses -$50.096

Utilities Expenses -$2.976

Net Income $16.616

Retained Earnings Report

Opening retained earnings $ 83.080

Add: Net Income $ 16.616

Subtotal $ 99.696

Less: Dividens -$ 7.440

Total $ 92.256

8 0

3 years ago

The Lead City factory makes car batteries. The factory opened in 2014, and by the end of the year, they had made 30,000 batterie

dmitriy555 [2]

Answer:

2017:

Total variable cost= $600,000

Total fixed cost= $1,900,000

2018:

Total variable cost= $800,000

Total fixed cost= $1,900,000

Explanation:

Giving the following information:

The factory opened in 2014, and by the end of the year, they had made 30,000 batteries for a total cost of $2,500,000. In 2015, they made 40,000 batteries for an additional cost of $200,000.

I will assume that the fixed costs remain constant in both years.

We can calculate the variable cost per unit using the incremental cost.

Variable cost per unit= incremental cost/incremental units

Variable cost per unit= 200,000/10,000= $20

Now, we can calculate the fixed costs:

2017:

Total variable cost= 30,000*20= $600,000

Total fixed cost= 2,500,000 - 600,000= $1,900,000

2018:

Total variable cost= 40,000*20= $800,000

Total fixed cost= $1,900,000

6 0

3 years ago

Jervis sells $75,000 of its accounts receivable to Northern Bank in order to obtain necessary cash. Northern Bank charges a 5% f

Natasha2012 [34]

Answer:

Debit cash by $71,250, factoring expense by $3,750 and credit account receivable by $75,000.

Explanation:

Step 1 of 2

Calculate the amount of factoring fee.

Factoring fee = 5% ×Account Receivable

=5%×$75,000

=$3,750

Step 2 of 2. Journey record. Image attached.

Debit cash by $71,250, factoring expense by $3,750 and credit account receivable by $75,000.

4 0

4 years ago

Before the annual "blue versus red" football game, sara bet on the blue team, who then lost. after the game, she claimed she kne

algol [13]

Before the annual “Blue versus Red” football game, Sara bet on the blue team who later lost. After the game, she claimed she knew the blue team would lose. This illustrates hindsight bias which is also known as knew it all long effector tiptoeing determinism. It is the disposition after an event has occurred, to see the event as having been expectable in spite of there having been little or no objective basis for forecasting it. It is multifaceted phenomenon that can affect can cause exciting methodological problems while trying to analyze, understand and interpret results in investigational studies. In Additional, one example of the hindsight bias is when after viewing the outcome of a potentially unforeseeable event a person believe he or she “knew it all along.”

5 0

3 years ago

All business strategies seek to gain competitive advantage. a. True b. False