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4 years ago

Select all of the following descriptions that are true about market economies. Select all that apply:

Business

1 answer:

Citrus2011 [14]4 years ago

3 0

Answer:

The correct answers are B and D

Explanation:

Market economies is the kind of market which is grounded on the private enterprise, which means or states that the production (businesses or the resources) are operated as well as owned by the group or the private individuals.

And the supplying the goods and the services are grounded on the demand. The income of the person is grounded on the ownership of the resources of the person (especially the labor).

Therefore, the statement which is true regarding the market economies are B and D.

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For long-term contracts, the cost recovery method under IFRS requires recognizing equal amounts of revenue and cost until all co

Sav [38]

Answer:

The answer is letter A. TRUE

Explanation:

Because under IFRS firms tipically use the cost recovery method iif they conclude that the percentage of completion method is not appropriate to account for a long term contract.

8 0

3 years ago

Which of the following best describes the amount of money you'll have if you put $1,000 into a savings account earning 1% annual

Luden [163]

I'd choose C. slighltly more than $1100

7 0

3 years ago

A b c d

lina2011 [118]

Answer:

Net Sales a. $ 150,000, b. $ 902,500, c.$ 50,600, d.$ 268,500

Gross Profit a. $ 50,850 b. $ 344,755 c. $ 11,638 d. $ 139,083

Gross Margin ratio a. 33.9 %, b. 38.2 %, c. 19.9 %, d. 51.8 %

Explanation:

Computations of data requirements

a b c d

$ $ $ $

Sales 169,000 930,000 57,000 276,000

Less: Sales discounts ( 4,000) ( 21,500) ( 600) ( 5,300)

Less Sales return and allowances <u>( 15,000) ( 6,000) (5,800) ( 2,200)</u>

Net Sales 150,000 902,500 50,600 268,500

Cost of Goods Sold <u> 99,150 557,745 38,962 129,417</u>

Gross Profit 50,850 344,755 11,638 139,083

Gross Margin Ratio % 33.9 % 38.2 % 19.9 % 51.8 %

5 0

3 years ago

Joni wants to know how much a pedicure cost back in 1954, when her grandmother was her age. The Consumer Price Index (CPI) in 19

ohaa [14]

Answer:

The price of pedicure in 1954 = $4.89

Explanation:

The price of pedicure in 1954 = (CPI in 1954 ÷ CPI this year) × Price today = (26.7/245.9) * $45 = $4.89

Therefore, a pedicure cost $4.89 back in 1954.

4 0

3 years ago

If quantity of tea is measured on the horizontal axis and quantity of coffee is measured on the vertical axis, an increase in th

tatyana61 [14]

Answer:

A. pivot rightward (pivot out) along the horizontal axis

Explanation:

Tea and coffee represent substitute goods. If price of a good increases, this causes an increase in quantity demanded of it's substitute.

In the given case, quantity demanded of tea is measured on horizontal axis while quantity demanded of coffee is measured on vertical axis. The budget constraint for tea and coffee shows different combinations of quantity of tea and coffee demanded within a fixed expenditure.

When price of coffee increases, within the same budget constraint, the quantity demanded of tea shall rise.

This would lead to the budget constraint to pivot rightward (pivot out) along the horizontal axis.

4 0

3 years ago