Answer:
a set of assumption framework and methodologies used in the study of application of financial reporting principles
It estimates that after five years it can sell the equipment for $2,000. During year 2017, the band performs 55 concerts.
Answer:
The correct answer is c) $72,000
Explanation:
(Using the percentage of net sales method)
- Uncollectible accounts expense for the year is estimated to be $54,000
- If the balance of the Allowance for Uncollectible Accounts is an $18,000 credit before adjustment.
$54,000 + $18,000= $72,000
The balance after adjustment is $72,000
A command economy would be an economic system that is the opposite of capitalism. A command economy could exist in a socialist system as well, whereby the state controls major businesses in an economy and provides close economic planning for a country's industries rather than allowing private ownership and free markets under capitalism.
Answer:
that he should reduce his prices. Yachts are luxury goods and therefore exhibit a high price elasticity of demand. Thus, reducing prices would increase revenue.
Explanation:
Luxury goods usually have a high elasticity of demand when compared with necessity goods which are highly inelastic.
An elastic demand means that a change in price would have a considerable impact on quantity demanded.
Therefore, if the price of the yachts which is a luxury good with high elasticity is reduced, demand for yachts would increase and revenue would increase.
