Answer:
True
Explanation:
Dependent variables are variables which are altered by the changes to the independent factors or variables.
The following are instances of dependent and independent variables:
Dependent Variable (DV): Profit, Product Quality, Staff Attrition during a recession.
Profit (DV) depends on sales, expenses, the economy, the proficiency of the sales staff, the quality of the product.
The Quality of the Product (DV) depends on the production process, product design, quality of raw materials etc
So, many of the factors highlighted above, which affect the dependent variables are called Independent variable.
Profit, for instance, can be forecasted or changed IF changes are made to sales.
It is possible to measure the quality of a product or service. It can also be altered by increasing or decreasing the quality of raw material input.
Cheers!
Answer:
Inelastic
Explanation:
When the price elasticity of demand (PED) is lower than 1, the demand is said to be inelastic. This means that a 1% increase in the price of a good or service will result in a proportionally smaller reduction of the quantity demanded. The formula for calculating price elasticity of demand is:
PED = % of change in quantity / % of change in price
For example, if the price of gasoline increases by 5% but the quantity demanded for gasoline decreases only by 2%, the PED = 2% / 5% = 0.4, therefore the demand for gasoline is inelastic.
Answer:
Option E Debit another asset account for $2,400.
Explanation:
The other account which was debited with an excess amount to credit entry is $2400. This requires an adjustment for $2400 with credit entry to balance the credit and debit entry. So the only entry with debit is incorrect here which will not balance the entry and increase the difference between credit and debit.
So the option E is the option here which is will not complete the recording of transaction.
Answer:
$
Net income 100,000
Less: Dividend paid <u>70,000</u>
Retained earnings for the year <u> 30,000</u>
Statement of Retained earnings for the year ended December 31, 2018
$
Retained earnings on January 1, 2018 115,000
Add: Retained earnings for the year <u>30,000</u>
Retained earnings at December 31,2018 <u>145,000</u>
Explanation:
In this case, we need to calculate the retained earnings for the year, which is net income minus dividend paid. Then, we will add the retained earnings for the year to retained earnings at the beginning of the year. This gives the retained earnings at the end of the year.
