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expeople1 [14]
3 years ago
10

Customers are likely to be less price sensitive when:A. it is easy to compare prices.B. someone else pays the bill.C. the total

expenditure is high.D. there are substitutes available.E. their share of the cost is high
Business
1 answer:
My name is Ann [436]3 years ago
3 0

Answer:

Letter E is correct. <em>Their share of the cost is hig</em>h.

Explanation:

Price sensitivity is characterized by consumer behavior in relation to the price of a product or service.

The degree of price sensitivity can be measured using the price elasticity of demand, which is the study of the percentage change in the amount of demand for a good or service divided by the percentage change in price.

Some variables may affect consumer behavior, price sensitivity may be higher when there are many substitute products and lower when the consumer values ​​a higher quality good and <u>when its profitability is higher compared to the total cost of the product. </u>

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Ten years ago, Cary Company issued $1,500,000 of 7 percent, 10-year bonds at a price of 95. On the maturity date of January 2, a
arsen [322]

Answer:

Explanation:

The journal entry is presented below:

On January 2

Bond payable A/c Dr $1,500,000

      To Cash A/c $1,500,000

(Being the redemption of the bonds is recorded)

The discount on bonds payable would be matured on the date of maturity so in this case the face value would be recorded and it is equaled to the carrying value

3 0
3 years ago
Rockwood International needs to make risky decisions on a daily basis. Therefore, its managers are likely to
gizmo_the_mogwai [7]

Answer:

Centralize decision making

Explanation:

From the question we are informed about Rockwood International who needs to make risky decisions on a daily basis. Therefore, its managers are likely to Centralize decision making.

Centralization can be regarded as setup whereby decision-making powers are been concentrated or given to few leaders that are on top of the organizational structure. Decisions making are been carried out at the top then communicated to lower-level managers so that implementation can take place.

5 0
3 years ago
Internal control procedures for cash receipts do not require that:_____.
Alex73 [517]

Answer:

b. All collections for sales are received immediately upon making the sales.

Explanation:

Internal control, regarded as a process used in assuring objective of an organization in operational effectiveness as well as efficiency and reliable financial reporting, it is also used in assuring of compliance with laws as well as regulations and policies. Generally, internal control can be described as everything which is able to controls risks to an organization. It is a way the

resources of an organization are been

measured as well as been directed and monitored.

It should be noted that Internal control procedures for cash receipts require that:.

✓Custody over cash is kept separate from its recordkeeping.

✓Clerks having access to cash in a cash register should not have access to the register tape or file.

✓An employee with no access to cash receipts should compare the total cash recorded by the register with the record of cash receipts reported by the cashier.

✓Cash sales should be recorded on a cash register at the time of each sale

7 0
3 years ago
A company uses the percent of sales method to determine its bad debts expense. At the end of the current year, the company's una
ollegr [7]

Answer:

Bad debt expense A/c Dr  $4,900

           To Allowance for doubtful debts  $4,900

(Being bad debt expense is recorded)

Explanation:

The journal entry is shown below;

Bad debt expense A/c Dr  $4,900

           To Allowance for doubtful debts  $4,900

(Being bad debt expense is recorded)

The computation of the bad debt expense is shown below:

= Net Credit sales × estimated percentage given  - credit balance of allowance for doubtful debts

= $920,000 × 0.6%  - $620

= $5,520 - $620

= $4,900

6 0
3 years ago
In the current year, Borden Corporation had sales of $2,190,000 and cost of goods sold of $1,295,000. Borden expects returns in
NNADVOKAT [17]

Answer:

The entries are as follows

To record estimated returns on Sales

Debit: Sales Refund Payable Account $131,400

Credit: Accounts Receivables $131,400

To record estimated Cost of Sales returns

Debit: Inventory Returns Estimated Account $77,700

Credit: Inventory on Sales on Returns $77,700

Explanation:

To derive the figure for Sales Refund payable for the year

6% of $2,190,000

= \frac{6}{100} * 2,190,000 = $131,400

To derive the figure for Inventory cost on Sales Refund payable for the year

6% of $1,295,000

= \frac{6}{100} * 1,295,000 = $77,700

3 0
3 years ago
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