Answer:
B) $1,132,895
Explanation:
If the CPI = 15.2 in 1931, and in 2012 it was = 229.6, then President Hoover was making a fortune = (229.6 / 15.2) x $75,000 = $1,132,895, and he was a terrible president, one of the worst ones in all history.
In 2012 when President Obama was in office, he made around $400,000 and he was a much better president.
Answer:
The correct answer is option A.
Explanation:
The price of good A is initially at $11.
The initial demand of A is 400 units.
The price increases to $33.
The demand of A , as a result, falls to 200 units.
The demand for good C is initially at 150 units.
With increase in price of A, the demand rises to 250 units.
The positive cross elasticity as given in the figure represents that the two goods are substitutes. When price of A increases, consumer will prefer its cheaper substitute. So, the demand for good C will increase.
Answer:
In an Internal Service Fund, the expectation is that:_____.
A. Each year's revenues should equal each year's expenses because the revenues are simply an allocation of that year's expenses.
Explanation:
There are two proprietary funds used in governmental accounting. One is the internal service fund. The other one is the enterprise fund. The internal service fund tracks the goods or services rendered by a service department to other governmental departments. It is established on a cost reimbursement basis. This is why the expenses for the year are expected to equal the annual revenue.
The sales budget and the schedule of cash receipts.
Option B.
<u>Explanation:</u>
Account receivable is the account which consists of the amount that is to be received by a firm for the goods and the services that have been delivered to the customers but the amount and the payment has not yet been received by the firm for the same.
The amount of money that is still to be received can be derived from the accounts having the sales that is done by the firm to the clients.
Answer:
The answer is: Income statement
Explanation:
As she wants to get information on sales and costs, the Income statement is the statement that she should looking for. With the Balance sheet statement, it only shows information on the financial position reporting the firm's assets, liabilities and owner's equity at a specific point in time rather than the sales and costs firgures during the reporting period.
Furthermore, she should opt for Income statement rather than the common-size income statement because the common-size income statement hardly illustrates any trend during the recent years/ reporting periods, instead, it is only shown each revenue and cost items as percentage of total sales in a specific period.
In the income statement, there should be enough information for the new CFO to find trends on revenues and costs (if any) because the revenue and cost items is detailed enough and at least it should be given the comparision between sales & costs of the reporting period versus the firgures of the previous reporting period.
