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Luda [366]
3 years ago
12

True or False:If the price of a product goes up by 10% and the quantity demanded goes up by 20% the product is an inferior good.

Business
1 answer:
hodyreva [135]3 years ago
5 0
False. 

If the price of a product goes up by 10% and the quantity demanded goes up by 20% the product is a GIFFEN GOOD. 

An inferior good is a good that decreases in demand if income increases. These are the goods that people opt not to buy when their purchasing power increases.
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A firm have an inventory turnover of 5 times a year on a cost of goods sold of $800 000.if the firm improves the inventory turno
Lunna [17]

Answer:

d) $60,000 is released into working capital

Explanation:

Inventory turnover is the number of times that a firm buys and sells inventory. A high inventory means that the company sells its stock many times in a year.

the formula for inventory turnover ratio

=Cost of goods sold/ average inventory

If a firm has COGS of $800,000 and an inventory turnover of 5, then the average inventory will be

=$800,000 /5

=$160,000

If the firm improves its  turnover to 8, then the average inventory will be

=$800,000/8

=$100,000

The firm average inventory will  $100,000 as opposed to $160,000 previously.

$60,000  will be released to working capital.

3 0
3 years ago
A Coverdell Education Savings Account may be preferred to a Sec. 529 Education Savings Account under all of the following circum
Tpy6a [65]

Answer:

A)The student beneficiary will use the money to pay for high school expenses.

Explanation:

A Coverdell Education Savings Account can be used for elementary, secondary, or higher education expenses (college). The money can be used to pay for public, private, or religious schools. On the other hand, 529 plans can only be used to pay for higher education expenses (college).

The maximum contribution to a Coverdell Education Savings Account is $2,000 per year per child and the contribution is not tax deductible. But when the distributions are taken to pay for the child's qualified education expenses, then they are not taxed.

6 0
3 years ago
The actual inventory holding cost incurred by an item depends on how long it actually spends in inventory.
svlad2 [7]
True. <span>The actual inventory holding cost incurred by an item depends on how long it actually spends in inventory. Holding costs are costs that happen when the inventory stays put and does not sell. The costs are calculated into the inventory costs along side of ordering and shortage costs. Holding costs can include the goods being damaged or spoiling due to the length of being held. Since they can be held for 5 days or 100 days (example) the total cost that is held depends on the length the items were held for. </span>
5 0
3 years ago
Richard grassgreen was executive vice president and then president and chief operating officer of kinder-care, inc., the largest
Andrew [12]
That is toooooo much to read i am only in the 7th grade!!!
7 0
3 years ago
ralph chase plans to sell a piece of property for ​$170000. he wants the money to be paid off in two ways−a ​short-term note at
Feliz [49]

Let x represent the main amount at 11% and by 8% = 170000 - x

Simple interest is equal to principle amount rate time 100

16300=x*11*1/100+

(170000-x)*8*1/100

x=90,000

170000-x= 80,000.

       Simple Interest: What Is It?

  • Simple interest is a quick and simple formula for figuring out how much interest will be charged on a loan. Simple interest is determined by multiplying the daily interest rate by the principle by the number of days that elapse between payments.

To learn more about simple interest visit:brainly.com/question/18860244

#SPJ4

7 0
2 years ago
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