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Nesterboy [21]
3 years ago
6

What is the controlling account for the accounts payable ledger?

Business
1 answer:
Kruka [31]3 years ago
5 0

Contains the account of each vendor that make credit sales to the company

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The manager of a firm believes that she could increase sales by 1 unit per month if she lowered the price by 50 cents, but the r
melisa1 [442]

Answer:

Inelastic

Explanation:

Price elasticity of demand refers to degree of responsiveness of change in demand with due to the change in price.

When a small change in price is accompanied by a higher change in the quantity demanded, this indicates the demand being elastic.

On the other hand, when a substantial change in price results in less than proportionate change in the quantity demanded, it indicates that demand is inelastic.

Price elasticity of demand is mathematically represented as:

E_{p} = \frac{dQ}{dP} *\ \frac{p}{q}

wherein, E_{p} = Price elasticity of demand

              dQ= change in quantity demanded i.e Q_{2} \ -\ Q_{1}

              dP = Change in price i.e P_{2} \ -\ P_{1}

              p = original price

              q = original quantity

In the given case, the manager thinks, when price is reduced by 50 cents, the sales quantity will rise by 1 unit, but the total revenue, which is the product of price and quantity demanded, will fall. This indicates, the demand was perceived as inelastic.

This represents the case wherein, with fall in prices, the total revenue also falls i.e inelastic demand.

3 0
3 years ago
It is sometimes ____ at night in lagos (a) cold (b) colder (c)coldest​
baherus [9]
It is sometimes cold at night in Lagos
6 0
3 years ago
Read 2 more answers
Hopkins Company has taken a position in its tax return to claim a tax credit of $70,000 (direct reduction in taxes payable) and
Oksi-84 [34.3K]

Answer:

The amount of the additional projected liability that should be recognized is $28,000

Explanation:

For computing the amount of the additional projected liability, we have to apply the formula which is shown below:

= Tax benefit in 20% - Tax benefit in 40%

= $70,000 - $42,000

= $28,000

The other information which is given in the question is irrelevant. So, it is not been considered in the computation part. Hence, it is ignored.

We took the higher value between $42,000 and $14,000.

5 0
4 years ago
- The local botanical society wants to ensure that the gardens in the town park are properly cared for. The group recently spent
slega [8]

Answer:

$159,000

Explanation:

We are going to compute an A which is equivalent to $100,000 at the end of 10 years.

Therefore:

A= $100,000 (A/F, 5%, 10)

= $100,000 (0.0795) = $7,950

Infinite series is :

P= A/i= $7,950/0.05= $159,000

Therefore the money needed is $159,000

8 0
4 years ago
Alex sees that his neighbors' lawns all need mowing. He offers to provide the service in exchange for a wage of $20 per hour. So
soldier1979 [14.2K]

Answer:

The answer is A) Rational self-interest because he is attempting to increase his own income by identifying and satisfying someone else's wants.

Explanation:

Traditional economic theory is based on three fundamentals, the first one being we are all rational consumers or suppliers.

Alex is trying to earn some money, completely rational and intelligent. He is able to do it by satisfying his neighbors´ need for lawn mowing.

Is he greedy? Probably yes, but he is still rational. No one is forced to pay his fee, so his also rational neighbors will decide if the price is correct or not. Those who believe the price is correct will hire him. If someone believes his is charging too much and that they can offer the same service for a lesser price,  should show up and offer their cheaper services.

Can people who buy a 25 million dollar car be considered irrational? No they can´t, because for them is probably an investment or they simply have  tons of money and like extremely expensive cars. What one person considers expensive may be considered cheap by someone else.

7 0
3 years ago
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