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Bad White [126]
3 years ago
10

Confucius Bookstore’s inventory is destroyed by a fire on September 5.

Business
1 answer:
Mice21 [21]3 years ago
6 0

Answer and Explanation:

Cost of goods sold formula:

Opening inventory + purchases - ending inventory

Cost of purchases:

Opening inventory + purchases = 190000 + 352000 = $542,000

Cost of goods sold

= 685,000 - (44% x 685,000) = 383,600

Net sales =               685,000

Less: COGS =           383600

Gross Profit =            301400

Inventory loss = 542000 - 383,600 = $158,400

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At a price of $15 each, Marta buys 4 books per month. When the price increases to $20, Marta buys 3 books per month. Luz says th
Lapatulllka [165]

Answer:

No, Luz is incorrect. Marta's quantity demanded has decreased, but her demand has stayed the same.

Explanation:

For $15 per book, the quantity demanded was 4 books per month.

When the price increases to $20 per book, the quantity demanded fell to 3 books per month.

This shows a decrease in the quantity demanded. A change in demand occurs when the price is constant and quantity demanded changes because of change in other factors. But here the other factors are constant and the quantity demanded is changing due to a change in price.

So, Luz's statement here is incorrect.

4 0
4 years ago
Burger Boy Restaurant Corporation allows its trademark to be used as part of a domain name for BurgerBoyNY, Inc., an unaffiliate
Yuri [45]

Answer:

A License

Explanation:

Burger Boy Restaurant Corporation allows its trademark to be used as part of a domain name for BurgerBoyNY, Inc., an unaffiliated company. Burger Boy NY does not obtain ownership rights in the mark. This is a license. When one firm gives its rights to another firm under this type of contract, the ownership rights always remains with the parent company and licensee can't have ownership rights, they can use only the name and products of that parent company to the customers, but ownership held with the parent company. For example, when KFC and McDonald's gives the right to make and sell their products all over the world, the ownership rights are always reserved with the parent company.

3 0
4 years ago
Joe works for a life insurance company that funds commercial investment projects and often insures these projects by insisting o
Mademuasel [1]

Answer: Participation

Explanation:

Participation financing is a firm of financing whereby a loan is shared by several parties because such loans are too huge and a party cannot take the loan alone.

Since we are informed that works for a life insurance company that funds commercial investment projects and often insures these projects by insisting on an equity position, this means that participation financing is being practiced.

7 0
3 years ago
What six factors are found in every type of economy
ira [324]

Answer:

producers, distributors, consumers, labor, resources, and capital

Explanation: hope this heps<3

6 0
3 years ago
Read 2 more answers
Campus Bus Service entered into a contract with Smith Bus Company to purchase 10 buses. One week before Campus Bus was scheduled
dangina [55]

Options:

  • Smith Bus should be excused from performance under the clause for the rights on improper delivery
  • Smith Bus should not be excused from performance because it did not act in good faith
  • Smith Bus should be excused from performance under the test of commercial impracticability
  • Smith Bus can exercise its right of anticipatory repudiation

Answer:

Correct answer is Option c.

<u>Smith Bus should be excused from performance under the test of commercial impracticability </u>

Explanation:

In this case, Smith cannot fulfil the contract obligation due to an unforeseen event. Hence, Commercial impracticability shall apply.

5 0
3 years ago
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