The three error types i would be most concerned about is wrong address, misspelled name and wrong name because they could lead to lower credit scores
The error in this context related to credit report errors which can happen while been a high school student.
- Credit report refers to the organized record database of borrower's credit history from different sources.
Based on statistics, the student responded that the error they are most concerned about includes:
- Wrong Address
- Misspelled Name
- Wrong Name.
Hence, the three error types i would be most concerned about is wrong address, misspelled name and wrong name because they could lead to lower credit scores.
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Answer:
a. Accounts Payable—Smith Co.; Merchandise Inventory
Explanation:
We assume that Jones Co. purchased merchandise on account.
In order to record the purchase returns we do the following,
Smith Co, debit, since this is a payable account and credit by nature, we debit it to reduce the balance payable amount by the amount of inventory returned.
We also credit out merchandise inventory, since it is reduced and no longer has the returns accumulated.
Option A is the right answer.
Hope that helps.
Answer:
B. equals the relative price of the two goods.
Explanation:
A budget constraint refers to how much money a person or a company has to spend in any given pair of goods or services, e.g. you have $10 and you want to eat hot dogs and drink Coke.
The slope of the budget constraint refers to the relative price of the two goods or services, e.g. a hot dogs costs $2 and a Coke costs $1.50. The slope of the budget constraint = $1.50 / $2 = 0.75. The slope of a budget constraint is always equal or less than 1, that is why the smallest value is the numerator.
Answer:
Option (B) is correct.
Explanation:
Given that smartphones are a normal good and income of the individuals increases because of economic boom. We know that there is a direct relationship between the income of an individual and demand for normal goods.
Increase in the income level of the individuals will result in higher demand for smartphones. This will shift the demand curve of smartphones rightwards.
Simultaneously, the wages of sales representatives who work for cell phone companies also increases. This will increase the cost of production for the firms and shifts the supply curve of smartphones leftwards.
Hence, the equilibrium price of smartphones increases but the effect on equilibrium quantity is indeterminate because its effect will be depend upon the magnitude of the shift of supply and demand curve.
