1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Oksana_A [137]
3 years ago
8

Assuming a 365-day year, Bush Industries calculated an average of 47 days to collect its accounts receivable in 2019. During 201

8, Bush's accounts receivable turnover rate: Select one: a. Was approximately 7.77. b. Was equal to 47 times its average accounts receivable. c. Was approximately 0.13. d. Can't be determined from this information alone.
Business
1 answer:
alexandr402 [8]3 years ago
6 0

Answer:

The answer is: A) Was approximately 7.77

Explanation:

A company's Accounts Receivable turnover rate refers to the number of times per year that a company collects its accounts receivable. It is calculated using the following formula:

turnover rate = 365 days / average time to collect accounts receivable

turnover rate = 365 days / 47 days = 7.77

You might be interested in
When a company pays its bill from a plumber for previous services on account:(A) Its debt to equity ratio always decreases. Corr
Daniel [21]
The correct answer is B
8 0
3 years ago
If the price of pants increases, what would you expect would happen in the market for pants?
worty [1.4K]

Answer: There will be a surplus at the increased price.

Explanation: Acc. to the law of demand as the price of a good rises the quantity demanded for the good will fall. This is represented by a movement up along the demand curve.

Acc. to the law of supply as price of a good rises the sellers will supply more units of the good. This is represented by a movement up along the supply curve.

At the increased price, there will be a surplus in the market given by Q's - Q'd.

Eventually, the surplus will lead to a fall in the price of pants till demand for the good is equal to its supply.

6 0
3 years ago
Read 2 more answers
Define equilibrium price, demand schedule, and supply schedule. Then, briefly explain how demand and supply schedules are used t
Kisachek [45]
The equilibrium price is the only price where the desires of consumers and the desires of producers agree—that is, where the amount of the product that consumers want to buy (quantity demanded) is equal to the amount producers want to sell (quantity supplied).

When two lines on a diagram cross, this intersection usually means something. On a graph, the point where the supply curve (S) and the demand curve (D) intersect is the equilibrium.

What Is a Demand Schedule?
In economics, a demand schedule is a table that shows the quantity demanded of a good or service at different price levels. A demand schedule can be graphed as a continuous demand curve on a chart where the Y-axis represents price and the X-axis represents quantity.

An example from the market for gasoline can be shown in the form of a table or a graph. A table that shows the quantity demanded at each price, such as Table 1, is called a demand schedule.

Price (per gallon) Quantity Demanded (millions of gallons)
$1.00 800
$1.20 700
$1.40 600
$1.60 550
$1.80 500
$2.00 460
$2.20 420
Table 1. Price and Quantity Demanded of Gasoline


Supply schedule

again using the market for gasoline as an example. Like demand, supply can be illustrated using a table or a graph. A supply schedule is a table, like Table 2, that shows the quantity supplied at a range of different prices. Again, price is measured in dollars per gallon of gasoline and quantity supplied is measured in millions of gallons.

Price (per gallon) Quantity Supplied (millions of gallons)
$1.00 500
$1.20 550
$1.40 600
$1.60 640
$1.80 680
$2.00 700
$2.20 720
Table 2. Price and Supply of Gasoline

Equilibrium price

gallon) Quantity demanded (millions of gallons) Quantity supplied (millions of gallons)
$1.00 800 500
$1.20 700 550
$1.40 600 600
$1.60 550 640
$1.80 500 680
$2.00 460 700
$2.20 420 720
Table 3. Price, Quantity Demanded, and Quantity Supplied

Because the graphs for demand and supply curves both have price on the vertical axis and quantity on the horizontal axis, the demand curve and supply curve for a particular good or service can appear on the same graph. Together, demand and supply determine the price and the quantity that will be bought and sold in a market.

The equilibrium price is the only price where the plans of consumers and the plans of producers agree—that is, where the amount of the product consumers want to buy (quantity demanded) is equal to the amount producers want to sell (quantity supplied). This common quantity is called the equilibrium quantity. At any other price, the quantity demanded does not equal the quantity supplied, so the market is not in equilibrium at that price.
In Figure 3, the equilibrium price is $1.40 per gallon of gasoline and the equilibrium quantity is 600 million gallons. If you had only the demand and supply schedules, and not the graph, you could find the equilibrium by looking for the price level on the tables where the quantity demanded and the quantity supplied are equal.
The word “equilibrium” means “balance.” If a market is at its equilibrium price and quantity, then it has no reason to move away from that point. However, if a market is not at equilibrium, then economic pressures arise to move the market toward the equilibrium price and the equilibrium quantity.
Imagine, for example, that the price of a gallon of gasoline was above the equilibrium price—that is, instead of $1.40 per gallon, the price is $1.80 per gallon. This above-equilibrium price is illustrated by the dashed horizontal line at the price of $1.80 in Figure 3. At this higher price, the quantity demanded drops from 600 to 500. This decline in quantity reflects how consumers react to the higher price by finding ways to use less gasoline.
Moreover, at this higher price of $1.80, the quantity of gasoline supplied rises from the 600 to 680, as the higher price makes it more profitable for gasoline producers to expand their output. Now, consider how quantity demanded and quantity supplied are related at this above-equilibrium price. Quantity demanded has fallen to 500 gallons, while quantity supplied has risen to 680 gallons. In fact, at any above-equilibrium price, the quantity supplied exceeds the quantity demanded.
4 0
2 years ago
When your local Internet service provider increased its monthly charge from $40 to $50, the number of subscribers fell from 2,00
love history [14]

Answer: Inelastic

Explanation:

Based on the information given, we would calculate the elasticity of demand which would be:

= (Change in Quantity / Change in Price) (Initial Price/ Initial Quantity)

Change in Quantity = 1800 - 2000 = -200

Change in Price = 50 - 40 = 10

Initial Price = 40

Initial Quantity = 2000

Elasticity of demand would then be:

= (-200/10)(40/2000)

= (-20)(0.02)

= -0.4

Since elasticity of demand is less than 1, it is an inelastic demand.

7 0
3 years ago
"when the economist says that material wants are insatiable, he means that:"
Ede4ka [16]
<span>When the economist says that material wants are insatiable, he means that these wants are virtually unlimited and therefore incapable of complete satisfaction. Insatiable means that they are impossibly to satisfy. In the economic world it is best to make use of the limited resources to help satisfy virtually unlimited wants. </span>
4 0
3 years ago
Other questions:
  • Last year Ann Arbor Corp had $195,000 of assets (which equals total invested capital), $305,000 of sales, $20,000 of net income,
    7·1 answer
  • ​Investments, Inc., began by issuing common stock for cash of $260,000. The company immediately purchased computer equipment on
    8·1 answer
  • Mason is restoring a car and has already spent $3500 on the restoration. He could sell the car now for $2800. However, if Mason
    8·1 answer
  • According to the washington post article the downsides of cheap corn, farmers' 2014 crop revenues were down from prior years, de
    7·1 answer
  • What is elaborative encoding?
    11·1 answer
  • At December 31, Hawke Company reports the following results for its calendar year.
    13·1 answer
  • Jackson Manufacturing Company had a beginning inventory of $23,000. During the year, the company recorded inventory purchases of
    5·1 answer
  • Compton Inc. has a beginning materials inventory balance for May of $27,500, and an ending balance for May of $28,750. Materials
    13·1 answer
  • Which of the following is an example of a final good or service?
    7·1 answer
  • Which statement best describes the circular flow of an economy?
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!