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Tasya [4]
3 years ago
14

Assume that beef and chicken are substitutes. If the price of beef increases, all other things being equal, demand for chicken w

ill increase. True or false?
Business
1 answer:
ss7ja [257]3 years ago
3 0

Answer:

True

Explanation:

This is a true statement. The beef and chicken are substitute goods. The substitute goods are generally have a positive cross price elasticity of demand which states that there is a direct relationship between the price of beef and the demand of chicken.

If the price of beef increases then as a result the demand for chicken increases and if the price of beef decreases then as a result the demand for chicken decreases.

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The Fitting Department’s cost per equivalent unit for conversion cost for March was $6.01. How much conversion cost was assigned
olga_2 [115]

Answer:

units transferred to the next department = units in beginning wip + units started into production - units in ending wip    

= 8400 + 52800 - 3700

= 57,500 units

Units completed and transferred out :                                              Conversion

Units transferrd to the next deptt                                                        57,500

cost per unit                                                                                           $9.56

Cost of units completed and transferred out                                 $549,700

4 0
3 years ago
Tax accounting, llc, is a member-managed limited liability company. if the law in tax accounting’s state is like the law in most
Wittaler [7]
The voting rights are apportioned according to the capital contributions. The members of the firm are required to contribute based on their shares in the company. The contributed capital would wrap up the total amount of stocks that can be purchased by another company that would like to buy it.
3 0
3 years ago
Read 2 more answers
Account classifications include assets, liabilities, stockholders’ equity, dividends, revenues, and expenses. Required: For each
Otrada [13]

Answer:

Explanation:

All revenues generated and expenses incurred during a given period are reported in the income statement.  

The stockholder equity statement contains the common stock and the retained earnings that could be used to calculate the ending balance.  

The balance sheet reports the assets and liabilities of the company

So the categorization is shown below:

1. Common stock = Stockholder equity

2. Equipment = Fixed asset

3. Salaries payable = Current liabilities

4. Service revenue = Revenue in the income statement

5. Utilities expense = Expense in the income statement

6. Supplies = Current asset  

7. Research and development expense  = Expense in the income statement

8. Land = Fixed asset

9. Income tax payable = Current liabilities

10. Interest payable = Current liabilities

Note: Please find the attachment that contains the full question

6 0
3 years ago
12/31/06Accounts receivable $525,000Allowance (45,000)Cash realizable value 480,000During 2007 sales on account were $145,000 an
alekssr [168]

Answer:

c. $42,000 increase

Explanation:

The computation of the change in cash realizable value is shown below:

= Adjusted cash balance - Cash realizable value

where,

Adjusted cash balance = Ending balance of accounts receivable + sales on account - collections - written off amount - bad debt expense

= $525,000 + $145,000 - $86,000 - $8,000 - $54,000

= $522,000

And, the cash realizable value is $480,000

Now put these values to the above formula

So, the value would be equal to

= $522,000 - $480,000

= $42,000 increase

5 0
3 years ago
You bought a share of 6.6 percent preferred stock for $97.68 last year. The market price for your stock is now $102.42. What is
Angelina_Jolie [31]

Answer:

The aggregate return for the last year is 11.61%

Explanation:

The return on any asset is the increase in price, in addition to any dividends or the cash flows, which is divided by the initial price. Since, the preferred stock is assumed to have a $100 par value of, the dividend amounts to $6.60, therefore, the return for the year would be:

Return (R) = (Market Price - Stock Price + Dividend) / Stock Price

R = ($102.42 - $97.68 + $6.60) / $97.68

R = .1161, or 11.61%

6 0
3 years ago
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