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3 years ago

Which of the following statements is true of inflation? Group of answer choices

Business

1 answer:

mezya [45]3 years ago

8 0

Answer:

c. It refers to an increase in the average level of prices.

Explanation:

Inflation refers to a constant increase in the average prices of goods and services in the economy over time. Inflation means consumers will pay more for a similar basket of goods and services than they did in a previous period. Economists use Inflation as a measure of the rate at which the general prices are rising.

A high rate of Inflation without a corresponding rise in incomes erodes the purchasing power of households and firms. The consumer price index CPI is the common index used to measure the inflation rate. Should the inflation rate increase at a very high rate, governments, through the central bank, applies monetary policies to regulate it.

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Global Company sold merchandise to Montana Industries for cash, $3,450. The cost of merchandise sold was $1,850. Global Company

kherson [118]

Answer:

C. credit to Customer Refunds Payable, $900

Explanation:

Global Company sold merchandise to Montana Industries for cash, $3,450. The cost of merchandise sold was $1,850.

Global Company refunded Montana Industries $900 for returned merchandise. The cost of merchandise sold was $600.

The entry that will be recorded by Global Company in the journal entry for the refund from the sale a credit to Customer Refunds Payable, $900

<u>This amount of $900 will eventually be netted off against the accounts receivable amount for the total sales of $3,450, reducing the amount payable by the customer to $2550</u>

3 0

3 years ago

Provide an example of a clothing store using “non-price” competition.

Art [367]

Answer:

Examples are such like loyalty programs, subsidized delivery, unique selling points, brand recognition, ethical and/or charitable concerns, after-sales service, positive feedback reviews, marketing campaigns and many more.

Explanation:

4 0

2 years ago

when gathering information, which of the following tasks might you need to perform? a. fill out forms, follow procedures, and ap

Keith_Richards [23]

Answer:

Study objects, conduct tests, research written materials, and ask questions

3 0

3 years ago

Read 2 more answers

Which of the following cash budget equations is incorrect? Multiple Choice Period one ending cash balance = period two beginning

iris [78.8K]

Answer:

Cash payments + cash receipts = cash requirements

Explanation:

The cash budget is a budget which deals in a inflow and outflow of cash. The inflow of cash refers to the incoming of cash through receipts while the outflow of cash refers to the outgoing of cash through payments

It interprets the liquidity of the business organization whether organization has enough cash or it can be borrowed for running its organization

Therefore, the Cash payments + cash receipts = cash requirements is wrong as other equations that are given are right

7 0

3 years ago

Webster Corporation's budgeted sales for February are $318,000. Webster pays sales representatives a commission of 5% of sales d

Natali5045456 [20]

Answer:

The aggregate budgeted selling expense for the month of February amounts to $20,900

Explanation:

Selling expense budget is the plan which estimate the selling expense which happen in that period or year or month. It is related to the marketing as well as selling the product to customers. And involve advertising expense, commission, delivery cost and signs.

The aggregate budgeted selling expense for the month of February is computed as:

Aggregate budgeted selling expense = Commission + Monthly Salary of Sales manager + Advertising expense

where

Commission is as:

Commission = Sales × 5%

= $318,000 × 5%

= $15,900

Monthly Salary of Sales manager is $3,700

Advertising expense is $1,300

So,

Aggregate budgeted selling expense = $15,900 + $3,700 + $1,300

Aggregate budgeted selling expense = $20,900

8 0

3 years ago