Select all of the true statments about financial literacy

9)What is the dominant strategy for bidders in an English oral auction?9)A)Bid until the previous bid price equals the reservati

Sophie [7]

Answer: B) Keep bidding until all other bidders quit, regardless of your reservation price.

Explanation: Familiar to English auctions, the bidders are aware of the prices of items on sale and the numbers of other bidders. This price is known as the reserve or reservation price which is the limit on the price of the item on sale set by the seller (that is the lowest price the seller is willing to sell the item). The bids start at a low price and keeps coming in until there are no more bids irregardless of the reservation price set. It probably depends on how much you value the item on sale and are willing to pay for it. Not necessarily on the reservation price.

3 0

2 years ago

What factors might have caused the auditor to inappropriately accept the assertions by management that the vendor allowances sho

Korvikt [17]

Auditors may be inclined to accept client representations because of a natural bias to want to trust the client.
Before doing the auditing process, auditor usually receive a small briefing from the management team on the financial system that they use in recording their transactions. If these allowances had been used in the past the auditor may have been inclined to accept them as regular business practices

6 0

3 years ago

Jackson is the owner of a small pizzeria and draws a variety of competition—from other local restaurants offering pizza to the l

Nataly [62]

Answer:

The correct answer is letter "B": False.

Explanation:

Small businesses have an advantage in differentiating their products because they are closer to their clients and are often more flexible than their bigger competitors. The differentiation of innovative goods is often a key factor in small business success.

6 0

3 years ago

Rachel is preparing to open her own raft rental business, cleverly named Rachel's Rafts. She figures out that her fixed costs wi

Arisa [49]

Answer:

selling price= $5

Explanation:

Giving the following information:

Fixed cost= $7,500

Unitary variable cost= $2

Break-even point= 2,500 units

The break-even point is the number of units to sell to cover the fixed costs. At this level, net income is zero.

So given the costs structure and 2,500 units to sell, the selling price that provides the break-even point is:

Break-even point in units= fixed costs/ (selling price - unitary variable cost)

2,500 = 7,500 / (selling price - 2)

2,500selling price - 5,000 = 7,500

2,500selling price = 12,500

selling price = 12,500 / 2,500

selling price= $5

7 0

2 years ago

When creating text ads to advertise a client's small chain of italian restaurants, what should you include in the ad text to mak

Brut [27]

When creating advertisement for an Italian restaurant, you should include information about Italian food in the description. This will serve to arouse the interest of the reader and compel them to patronize the restaurant.

4 0

2 years ago

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