<span>Often take a commission for their service. The commission could be a flat rate or a percentage of the check. Generally banks do not charge their customers to cash checks. A bank may charge a small fee to cash a check if the person is not their customer.</span>
The two pivotal factors that distinguish one competitive strategy from another boil down to Multiple Choice is explained in the following way
Explanation:
- The generic types of competitive strategies include: low-cost provider, broad differentiation, best-cost provider, focused low-cost, and focused differentiation strategies. Which of the following generic types of competitive strategies is typically the "best" strategy for a company to employ?
- What sets focused (or market niche) strategies apart from low-cost leadership and broad differentiation strategies is: their concentrated attention on serving the needs of buyers in a narrow piece of the overall market. ... meaningfully lower overall costs than rivals on comparable products.
- 1- By using its lower-cost edge to underprice competitors and attract price-sensitive buyers in great numbers to increase total profits.
- When a Low-Cost Provider Strategy Works Best
- Most buyers use the product in the same ways. Buyers incur low costs in switching among sellers. Large buyers have the power to bargain down prices. New entrants can use introductory low prices to attract buyers and build a customer base.
Answer:
3%
Explanation:
Calculation to determine what the Annual real interest rate is
Using this formula
Annual real interest rate = Annual nominal interest rate - expected annual inflation rate
Let plug in the formula
Annual real interest rate=8%-5%
Annual real interest rate=3%
Therefore Annual real interest rate is 3%
Answer:
- Entry for Establishing Petty cash fund:
Dr: Petty Cash $ 229
Cr: Cash/bank $229
- Entry for Expense paid out of Petty cash:
Dr: Office Supplies $ 95
Dr: Misc Expense $ 120
Cr: Petty Cash $ 215
- Entry for Reimbursement of Petty cash fund:
Dr: Petty Cash $ 0
Cr: Cash/Bank $ 0
No entry is required at the moment as the petty cash fund balance after the transactions is not below $11 which is the reimbursement limit ($229-$95-$215 = $14)
Explanation:
A petty cash fund is a fund established within an entity in order to pay out day to day small expenses out of expenses. It is recognized as an current asset when initially set up and slowly expense out as soon as the money is taken out from it for a specific expense.
Examples: Petty cash payment can be used for below small expenses:
- Postage and stationery
- Meals and entertainment
- Office Supplies
- Conveyance Allowance
- Sundry Expenses etc.
Answer :
Meaning & formula of short run price elasticity of supply, its numerical example as per given case
Explanation:
Short Run Price Elasticity of Supply denotes the proportionate change in quantity supplied due change in price. Price & quantity supplied change in same directions, as per law of supply.
In given case, increase in price of haircut increases the quantity supplied of the service of haircut, by more per labour service rate or more labour.
Short Run price elasticity of supply = percentage change in quantity supply/ percentage change in price =
Eg : If price increases from 5 to 10, & 5 workers' haircut increase from 4 to 6 haircuts for each worker, then total haircuts increase from 4 x 5 = 20 to 6 x 5 = 30
Short Run Price Elasticity of supply = 100/50 = 2
