When moving up along an existing supply curve all variables other than price are held constant
Answer:
False
Explanation:
Given that,
Accounts receivable = $30,000
Factoring fee charged = 2%
Therefore,
Factory fee = 2% of Accounts receivable
= 2% × $30,000
= $600
The amount $600 has to be subtracted from the accounts receivable.
Hence, the journal entry is as follows;
Cash A/c ($30,000 - $600) Dr. $29,400
Factory fee Expense A/c Dr. $600
To Accounts Receivable $30,000
(To record the account receivable)
Answer:
Explanation:
The differences between day pricing of hotel rooms and the pricing of airline itineraries can be summarized based on what the product is, what the resource is, and what is being priced.
For Airline,
The product: itineraries
The resource: flight legs used by the itinerary
What is being priced: itinerary (the product).
For Hotel,
The product: multi-day stay
The resource: room on a particular day
What is being priced: room on a particular day (resource). The price of the multi-day stay (product) is the sum of the prices of each particular day (resource).
Answer:
36.36%
Explanation:
Return on investment is given as;
Profit / Cost of goods sold × 100%
Given that profit is $12,000 and sales is $45,000 ;
Cost of goods sold
= $45,000 - $12,000
= $33,000
Therefore, return on investment is
= 12,000 / 33,000 × 100%
= 36.36%
Answer: Roth IRA
Explanation:
A Roth IRA allows a person to contribute income that is already taxed to their retirement account. As the income is already taxed, when it is distributed in retirement, it would be tax free.
People tend to choose this if they feel like taxes would increase in future as opposed to the present and so would like to take advantage and save on taxes.
There are however, restrictions on the amount that can be contributed however and people who earn more than a certain amount per year do not qualify for this retirement plan.