Answer:
a. mostly cigarette buyers.
Explanation:
The law of demand states an inverse relationship between quantity demanded of a good and it's price, keeping other factors affecting demand as constant.
Price elasticity of demand refers to the degree of responsiveness of quantity demanded to a change in price.
Alcohol and cigarettes are exceptions to the law of demand since in their case, the factor of addiction presides which outweighs rational decision making.
Thus, price elasticity of demand of cigarettes is inelastic. So a marginally higher price charged for cigarettes will not reduce their consumption.
A new tax on cigarettes would raise their prices. The manufacturers, to cover such taxes and maintain the same margin as before would further raise the prices of cigarettes further.
Thus, the tax burden would be shifted to the consumers and hence majorly borne by them.
Answer:
The answer is relevance and faithful representation.
Explanation:
Accounting information that is not relevant useful.
Relevance is when the accounting information in timely and use for taking major business and economic decisions.
Another one is faithful representation. Accounting information must be faithfully represented. It must be objective and free from bias.
If Accouting information is to be faithfully represented, it must have the following:
1. Completeness. There must be full disclosure of information. No material item or information must be omitted.
2. Error-free It must be 99percent error free.
3. It must be free from bias. Objectivity is the key.
The value added lead time is 38 minutes. It takes 24 minutes to assemble the rugs and 14 minutes to cut them, the total time is 38 minutes. The value added lead time is the time spent on all value adding activitie. In this case, the value activities are those that help produce the product being sold because they are adding value to the product.
Answer:
Increased foreign wealth and income
Explanation:
