Answer: Is all of the above.
Explanation:
Accounting involves the process of taking accurate records of financial and non-financial activities of a business organization. Accounting is the language of business as it is needed for every business to succeed, also in accounting, records are kept that are useful in decision making.
Answer:
False
Explanation:
In a perfectly competitive market the sales revenue is based on pricing also. As the pricing policy also plays an important role in the marketing technique to attract customers.
As the quality served is generally the same in the market, there is no issue in that but when the price is reduced expected sales will increase and accordingly the expected revenue also increases.
As the sales is expected to increase the revenue will also increase accordingly, even though the price is reduced, due to increase in sales quantity the expected change shall not be same as that of the change in price.
Thus, the statement is False.
The amount of net income reported on Sparty's income statement is $19,690.
<h3>
What is revenue?</h3>
- The total amount of income earned by the sale of goods and services connected to the principal operations of the firm is referred to as revenue in accounting.
- Commercial revenue is often known as sales or turnover.
- Some businesses make money by charging interest, royalties, or other fees.
<h3>What are dividends?</h3>
- A dividend is a profit distribution made by a corporation to its shareholders.
- When a corporation makes a profit or has a surplus, it can pay a portion of the earnings to shareholders as a dividend.
- Any money that is not dispersed is re-invested in the company.
<h3>Solution -</h3>
To find the amount of net income reported on Sparty's income statement, use the following formula:
Net Income = Gross Profit — Operating Expenses — Other Business Expenses — Taxes — Interest on Debt + Other Income
Net income = 80000 - 31000 - 11000 - 18130 = 19690
Therefore, the amount of net income reported on Sparty's income statement is $19,690.
Know more about net income here:
brainly.com/question/25906113
#SPJ4
Answer:
which of the following is most likely considered to be the most important factor for Belgiom, Korea and Canada to take full advantage of specialization?
b. international trade
Explanation:
In general, an economy can be defined as a set of activities that lead to the production and consumption of goods and services that utilize limited resources. An economic system serves to meet the needs of the individual operating in that economy, whether it is production or consumption needs. There are many factors that determine how big or small an economy is, the factors include; culture, laws, history, population, geographical location and other factors that cause necessity. A big economy can be defined as an economy where the amount of economic activities including the production and consumption of goods is at a high level as compared to other economies. On the contrary, a small economy is one whose production, consumption and trading activities is at a relatively low level. We will consider small economies.
Small national economies are countries whose production and consumption levels on a national scale are relatively small. Examples of such countries include; Belgium, Korea and Canada. Since the necessity for production or consumption is not that big, the best factor for specialization is international trade. Small economies can boost their growth by specializing on international trade to increase their market shares in other countries.
