Answer:
d. a decrease in price increases quantity demanded.
Explanation:
Law of demand: According to the law of demand, if the price of the good decreases, the quantity demanded would increase and vice versa. It shows an inverse relationship between price and quantity demanded. That's why its curve is always downward sloping
It effects the price and quantity demanded only and other things remain constant.
Answer:
A. Check attachment for proportion hypothesis test
B. Type I error is to conclude that less than 50% of adults in Suva have a will when actual probability is less than 0.5
Probability of type I error= significance level= 0.05
C. If type I error is zero, then we would not be able to reject the null hypothesis
<h2>•→ <u>Gross Profit </u><u>Margin </u>•→</h2>
#→<u> </u><u>Gross margin</u> is the difference between revenue and cost of goods sold (COGS), divided by revenue. Gross margin is expressed as a percentage. Generally, it is calculated as the selling price of an item, less the cost of goods sold (e. g. production or acquisition costs, not including indirect fixed costs like office expenses, rent, or administrative costs), then divided by the same selling price. "Gross margin" is often used interchangeably with "gross profit", however the terms are different: "gross profit" is technically an absolute monetary amount and "gross margin" is technically a percentage or ratio.
<h2>•→ <u>Net Profit </u><u>Margin </u>•→</h2>
#→<u> </u><u>The net profit margin</u>, or simply net margin, measures how much net income or profit is generated as a percentage of revenue. It is the ratio of net profits to revenues for a company or business segment. Net profit margin is typically expressed as a percentage but can also be represented in decimal form.
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Answer:
reported as a current asset on the balance sheet.
Explanation:
According to US GAAP, inventory must be reported at lower of cost or market value. ⇒ Therefore, "generally valued at the price for which the goods can be sold." is wrong.
Inventory is included under current assets since it is considered relatively liquid. ⇒ Therefore, "reported under the classification of Property, Plant, and Equipment on the balance sheet." is wrong.
Inventory is not an expense, cost of goods sold is an expense account. ⇒ Therefore, "reported as a miscellaneous expense on the income statement." is wrong.