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3 years ago

Suppose good x has a negative income elasticity of demand. This implies that good x is

Business

1 answer:

zloy xaker [14]3 years ago

6 0

An <u>inferior good.</u>

<u></u>

For inferior goods, when income rises demand falls.

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Loop 1604 Inc. has prepared a static budget at the beginning of the month. At the end of the month the following information is

Charra [1.4K]

Answer:

Flexible budget variance for Sales Revenue = $3,960 Favorable

Explanation:

Provided budget is static budget, firstly for calculating flexible budget variance for Sales Revenue.

For this flexible budget is made of same level of quantity as of actual level.

therefore Flexible budget sales = 990 units @ $70 per unit price will be same as of static budget.

Therefore Variance = Standard Flexible Budgeted Sales - Actual Sales

Standard Flexible Budgeted Sales = 990 $\times$ $70 = $69,300

Actual Sales Revenue = 990 $\times$ $74 = $73,260

Since actual revenue is more than budgeted sales this is favorable.

Flexible Budget Variance for Sales Revenue = $69,300 - $73,260 = $3,960

Since actual revenue is more than budgeted revenue therefore this is a favorable variance.

Flexible budget variance for Sales Revenue = $3,960 Favorable

3 0

3 years ago

Unencrypted information is

sergiy2304 [10]

Answer:

likely to be stolen and abused.

Explanation:

Uninterrupted information is a type of data that presented in a way that is understandably for most people (such as plain text).

When storing your information online with encrypted information, you make your data become easily identified, viewed and accessed by hackers. To prevent this from happening, you need to mask the data using encryption algorithms. This will make it really hard for a third party to decrypt your information and prevent it from being stolen.

3 0

3 years ago

Describe the final step in the adjusting process. The final step is to determine the correct balance of an account. The final st

Ket [755]

Answer:

The Final Step is 'post to a trial balance so financial statements can be prepared'

Explanation:

The accounting cycle has, in most theory analysis, 8 steps that will serve to record and process all financial transactions of a company, beginning at the transactions itself and ending at resetting the balance so a new cycle can begin. The steps are:

1) The occurrence of Financial Transactions

2) The record of those transactions in the company journal

3) The summary of all journal’s transactions in the general ledger

4) The calculation of a total balance for all accounts

5) The corrections of error in balances by the bookkeeper

6) The posting of adjustments in all accounts

7) The manufacture of financial statements using the correct balances

8) The close of revenue and expense accounts to open a new cycle

8 0

3 years ago

11111111111111111111111

belka [17]

Answer:

222222222222222222

Explanation: counting

7 0

2 years ago

Over a 20-year period an investment of $1,000 in common stocks returned an average of 11% in nominal terms and 4% in real terms.

Travka [436]

Answer:

c. $8,062.31 in nominal terms.

Explanation:

The portfolio value required which is at the end of 20 years is the future value of the amount invested initially($1000) , compounded at the nominal rate of return 11% per year as shown below:

FV=PV*(1+nominal interest rate)^n

PV=present value=initial invested=$1000

nominal interest rate=11%

n=time horizon of the investment=20 years

FV=$1000*(1+11%)^20= 8,062.31

6 0

3 years ago