A budget is a plan you make to decide how you spend your money.
To make a budget you must decide how much of your money you want to spend and how much of it you want to set aside. To balance a budget, keep track of all your expenses, payments, and income.
Answer:
remains unchanged as price increases when demand is unit elastic.
Explanation:
Total revenue = price × quantity
Demand is elastic when a small change in price has a greater effect on the quantity demanded.
If price is increased and demand is elastic, quantity demanded would fall more than the increase in price and total revenue falls.
Demand is inelastic if a small change in price has little or no effect on quantity demanded.
If price is increased and demand is inelastic, change in quantity demanded would be less than changes in price. As a result, total revenue would increase.
Demand is unit elastic if a change in price has an equal proportional effect on quantity demanded. The elasticity of demand always sums up to one.
If price is increased and demand is unit elastic, there would be no change in total revenue.
I hope my answer helps you
Answer:
-$7,270
Explanation:
Accounts receivable is the amount that is owed to the business by various parties that is due within a particular period.
In this instance there was an aging analysis done that estimated that $6,700 will be uncollectible. This will result in a bad debt expense of -$6,700.
Before now there was a balance of -$570 in allowance for doubtful accounts. Meaning there was a debit balance attributed to uncollected debt.
The total debt balance will now be -6,700-570 = -$7,270
Answer:
C. Separating Management from Ownership
Explanation:
What is Agency
The agency refers to contractural, quasi-contractual and non-contractual fiduciary relationships which represents two to three parties. The first is a person called the agent, the second is the principal and the final is a third party. Agency authorizes an agent to act on behalf of the principal and create binding relatinships with a third party.
Agency Conflict
Agency conflict represents a conflict of interest which is unavoidable in an agency relationship where one party is to act in the best interest of the other party. Specifically, in the business or corporate settings, the agency conflict arises when there is a conflict of interest between an organisation's management and the owners of the organisation.
The challenge is that management who is the agent is expected at all times to make decisions that will constantly maximize the wealth of the owners and at times, these decisions would conflict with management's ability to maximize its own wealth
Therefore, once the management of an organisation is separated from ownership especially in a Management/ shareholders relationship, an agency conflict could arise.
Answer:
Selling price: $ 1,116
Explanation:
The selling price of the job =
Manufacturing cost + (20% × manufacturing cost)
Manufacturing costs = Material cost + labour cost + Overhead
330 + ($12 × 20) + ($18 × 20) = 930
Selling price of the Job = 930 + (20% × 930)
= $ 1,116
