Industrialized former colonial states that dominate the world economic system: Core Countries
Answer:
Option (C) is correct
Explanation:
The payment is made during the discount period of 11 days so the 2% discount rate would be applicable.
Goods purchased = $112,000
Goods returned = $2,200
Discount = (Goods purchased - goods returned) × 2%
= ($112,000 - $2,200) × 2%
= $2,196
Net purchase = Goods purchased - returned - Discount
= $112,000 - $2,200 - $2,196
= $107,604
Total inventory cost = Net purchase + Freight cost
= $107,604 + $400
= $108,004
Therefore, company’s inventory increased by $108,004.
Answer:
Bad debts expenses shall be $ 850
Explanation:
The balance in the bad debts expense account shall be the aggregate of the amounts written off and the estimated uncollectible accounts based on ageing at the year end.
Amount written off during the year $ 650
Estimated uncollectible account provided at year end <u>$ 200</u>
Total Bad Debts expenses $ 850
The answer to the blank space is a contrast effect. A contrast effect is defined as a psychological bias where individuals are prone to evaluating that a stimulus is more positive because a similar stimulus was previously perceived as negative.
This is what is going on with Tom; despite having been presented information by Sam regarding how low taxes in general creates higher tax revenue, Tom still believes that taxing the rich would generate greater tax revenue to reduce the effect of recession.
Options:
A. $20
B. $200
C. $40
D. $400
Answer:C. $40
Explanation: Opportunity cost is a term used in Economics to describe the value of the next most profitable alternative of this an investor puts his or her resources into,in this case the opportunity cost for Bubba is the percentage of the interest which Bubba earned from the interest.
Opportunity cost for Bubba can be calculated as follows
(2%/100)* $2,000=$40.
Opportunity cost helps economists to ensure that resources are effectively put to use.
