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.
Answer:
The correct option is a. $7.50.
Explanation:
Note: The data in this question are merged together. They are therefore sorted before answering the question. See the attached pdf file for the complete question with the sorted data.
The explanation of the answer is now provided as follows:
Activity-based costing is a costing system that involves identifying an organization's activities and assigning the cost of each activity to all products and services based on actual consumption.
Based on the data in the question, a haircut requires one units each of Hair Washing and Conditioning, while it requires zero unit of each of Chemical Treatment and Styling.
Therefore, we have:
Cost of services for a haircut = (Units of Hair Washing * Rate of Hair Washing) + (Units of Conditioning * Rate of Conditioning) = (1 * $4.00) + (1 $3.50) = $4.00 + $3.50 = $7.50
Therefore, the correct option is a. $7.50.
Answer:
c. Debit to Bank Credit Card Sales, debit to Credit Card Expense, and a credit to Sales
Explanation:
The journal entry is shown below:
Bank credit card sales A/c Dr XXXXX
Credit card expense A/c Dr XXXXX
To Sales A/c XXXXX
(Being the sales is recorded via bank credit cards)
As the credit card has some expense so we debited the credit card expense along with the bank credit card sales and credited the sales as it is revenue which is to be credited
The company's net income will grow higher if it increases by 20% and then it will just keep getting higher and higher. Hope this helped, have a great day! :D
