Answer:
c. a debit to Inventory for $10,000
Explanation:
Whenever goods are purchased on a discount to be received on payment basis, the inventory is first recorded at cost.
Also as per the general rule, discount is a kind of income, and incomes are recorded only when earned, therefore, the cost of inventory shall be reduced by 4% only when the payment is made, therefore the inventory on the date of purchase shall be recorded at $10,000 only and not for $9,600.
Thus, correct option is c
Answer:
1. harnessing the benefits of competition.
2. reducing trade barriers
3. regulating markets.
Explanation:
harnessing the benefit of competition
The use of competition in a market will enable consumers get the best possible prices, quantity, and quality of goods and services. competition in a market will also boost innovation allowing each firm producing similar goods to improve the quality of their products so as to gain more market share.
Reducing trade barriers
When trade barriers such as quota, embargo, tariffs are reduced in the market, it becomes easier for firms to compete with a other firms. Reduction of trade barriers will encourage more firms to enter a market that previously had a single supplier of a commodity .
Regulating market
A regulated market is a kind of market where government control the force of demand and supply like determining who is allowed to enter the market and determine what price to be charge. Markets that are natural monopolies are usually regulated to avoid exploitation of consumers
Explanation:
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Answer:
4,400 deer
Explanation:
We know that,
Total fund received = Total cost
Total fund received = Fixed cost + variable cost
$64,000 = $20,000 + $10 × variable cost
$44,000 = $10 × variable cost
So, the variable cost = $44,000 ÷ $10 = 4,400 deer
We simply make the equation, so that the calculation can be done in easy manner. And the total cost include both the fixed cost and the variable cost