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3 years ago

Question 1 Saved

Business

1 answer:

Nadusha1986 [10]3 years ago

3 0

Answer: Businesses sell goods and services in product markets.

Explanation: Circular flow diagram shows the flow of goods and services from Firms to the Households and Factors of production from the Households to the Firms. The firms money from the sale of those goods and services and the households get factor payment.

Thus, Business are sell goods and services in product markets in a circular flow diagram.

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The purchase of raw materials on account in a process costing system is recorded with a:A. Debit to Purchases and credit to Cash

Mashcka [7]

Answer: The purchase of raw materials on account in a process costing system is recorded with a "C. Debit to Raw Materials Inventory and a credit to Accounts Payable.".

Explanation: The purchase of raw materials must reflect an increase in the inventory of raw materials and an increase in the liability generated by the purchase on account.

6 0

3 years ago

George retired from a local law firm and then volunteered to oversee a nonprofit's legal records. george is performing the dutie

motikmotik

Hello

George retired from a local law firm and then volunteered to oversee a nonprofits legal records. George is performing the duties of a corporate secretary

Thanks

4 0

3 years ago

In market economy a high price is a signal for Group of answer choicesproducers to supply less and consumers to buy more produce

juin [17]

Answer:

producers to supply more and consumers to buy less

Explanation:

In market economy a high price is a signal for consumers producers to supply more and consumers to buy less .

<u>Since a market economy allows the free interplay of supply and demand, it ensures that the most desired goods and services are produced. </u>

<u>Since the market allows the free interplay of supply and demand, then the law of demand holds that </u>'consumers are willing to buy more at a lower price and suppliers are willing to supply more at a higher price.

5 0

3 years ago

Royal Gorge Company uses the gross profit method to estimate ending inventory and cost of goods sold when preparing monthly fina

NISA [10]

1)The estimated ending inventory is $48,236

2)The estimated ending inventory is $72,000

Explanation:

1)For the given values the beginning inventory,net purchases, freight-in, cost of goods available for sale , cost of goods sold, net sales, less estimated gross profit, estimated inventory before theft, stolen inventory and estimated ending inventory are calculated in the given system.

The estimated ending inventory is $48,236

For the given values the beginning inventory,net purchases, freight-in, cost of goods available for sale , cost of goods sold, net sales, less estimated gross profit, estimated inventory before theft, stolen inventory and estimated ending inventory are calculated in the given system.

The estimated ending inventory is $72,000

4 0

3 years ago

Calculate the total revenue, total costs, and total gross profit the company will earn on the sale of L-Ten, Triol, and Pioze. A

trapecia [35]

Answer:

L-Ten, Triol and Pioze

Revenue $1,000,000 ; $2,000,000 ; $700,000

Total Costs $750,000 ; $750,000 ; $510,000

Gross Profits $250,000 ; $1,250,000 $190,000

Explanation:

Gross Margin percentage = Gross margin / Revenue

Gross Margin Percentage = Total Gross Margin of all products / Total revenue

Gross Margin Percentage = $1,690,000 / $3,700,000 = 0.45

Gross margin percentage is 45%

7 0

3 years ago