Current assets, or possessions used up within a year, are generally used to settle current liabilities.
<h3>Why do you use the term "current liabilities"?</h3>
- Current liabilities are debts or commitments that fall due within a year or during the regular business cycle. Additionally, current obligations are paid off by using a current asset, either by generating a fresh current liability or by using cash.
- In accounting, current liabilities are frequently interpreted as all debts owed by a company that must be paid in cash within the fiscal year or the operational cycle of that particular company, whichever is longer.
- Current assets, or possessions used up within a year, are generally used to settle current liabilities. Accounts payable, short-term loans, dividends, and notes payable are a few examples of current liabilities, along with any outstanding income taxes.
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Answer:
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Answer:
Gasoline consumption will decrease by a small amount.
Explanation:
A coefficient of elasticity of less than one indicates that demand is inelastic.
Inelastic demand means that there's little or no change in quantity demanded when there's a change in the price of a product.
Quantity demanded has little or no sensitivity to changes in price.
If the coefficient of elasticity is greater than one, demand is elastic.
Elastic demand is when a small change in price has a greater effect on the quantity demanded.
If the coefficient of elasticity were equal to one, it means that demand is unit elastic.
Unit elastic demand means a change in price leads to the same proportional change on quantity demanded.
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That statement is true, an LLC can indeed <span>held liable for any loss or injury caused by the wrongful acts or omissions of its members.
The assets that owned by the members couldn't be held accountable in case there is a loss in the company, but in case of criminal activities, this thing could be overlooked.</span>
