Answer:
So you can be prepared to handle future responsibilities about finances.
Explanation:
One prime example would be when you go to college you need to make decisions whether to keep the money or give it away for some fragile reasons/needs. Maintaining a checking account instills the habit to grow & safeguard the savings you might make working after school. Just my two cents! :)
Answer:
True.
Explanation:
A flat demand curve for a particular product indicates that the product is very sensitive to a change in the price level and on the other hand, a steeper demand curve indicates that any change in the price level doesn't have a effect on quantity demanded or have a little impact.
Elasticity of demand refers to the responsiveness of quantity demanded with any change in the level of price of the product.
The demand for these products is more elastic because a slightly change in the price level of a product will result in a large change in the quantity demanded for that product.
Answer:
The journal entry for recording the loss on the impairment is shown below:
Explanation:
Loss on Impairment A/c..........................Dr $137,000
Patent A/c......................................Cr $137,000
For recording the impairment, the loss or expense on the impairment is debit Therefore, loss on impairment is debited and the underlying asset is credited. So, the Patent account is credited.
Working note:
Impairment loss = Carrying amount - Fair value
where
Carrying amount is $300,000
fair value is $163,000
So,
= $300,000 - $163,000
= $137,000
The first thing Garrett should do is to "identify issues that need to be addressed."
<u>Explanation:</u>
The selling, distribution and promotion of alcoholic beverages includes consumer protection information, health hazards, and environmental factors. And Garrett would just get that from the appropriate stakeholders such as regulatory bodies. Garrett must therefore first collect information and classify the interested parties.
Garret should also go through all the legal and mandatory channels which are needed to be crossed before entering into such a beer distributorship business program. For an instance like asking license number, GST number, affidavit regarding any future consequence which may result into some loss, etc.
Bobby bb,b,b,b,b,b,b,,b,b,b,b,bb,b,
