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3 years ago

Assume that the demand curve for a certain good is a vertical line. This vertical demand curve illustrates the idea that:

Business

1 answer:

ladessa [460]3 years ago

6 0

Answer:

e.people will not change the quantity of the good when the price of the good is changed.

Explanation:

When the demand curve for a good is vertical, it indicates that the demand for the good is perfectly inelastic ; a change in price has no effect on the quantity demanded.

Goods with perfect inelasticity usually have no or little close subsituites.

I hope my answer helps you

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Johnson Corporation unadjusted trial balance at year-end include the following accounts. Compute the uncollectible account expen

Alborosie

Answer:

Explanation:

The journal entries are shown below:

A. Uncollectible Expense A/c Dr $11,520

To Allowance for doubtful accounts A/c $11,520

(Being the uncollectible expense is recorded)

The computation is shown below:

= $1,152,000 × 1%

= $11,520

B. Uncollectible Expense A/c Dr $12,960

To Allowance for doubtful accounts A/c $12,960

(Being the uncollectible expense is recorded)

The computation is shown below:

= $1,152,000 × 1.5% × 75%

= $12,960

C. Uncollectible Expense A/c Dr $9,816

To Allowance for doubtful accounts A/c $9,816

(Being the uncollectible expense is recorded)

The computation is shown below:

= $12,000 - $2,184

= $9,816

5 0

3 years ago

J has a whole life policy with a return of premium rider. Which of the following would best describe this rider?

mixas84 [53]

Answer:

The correct answer is:

A term rider on a permanent policy.

Explanation:

A return of premium rider refers to the case when the insured adds some additional clauses to the normal policy for an extra cost. A rider is obtained considering a specific period of time in which the policy would be paid to the beneficiaries in case of death, sickness or disability of the insured person. In case that the insured subject lives more than the pre-established period of time the amount that he paid for the return of premium rider would be given back to him. For example if J pays $50 monthly for a 30 years life term policy and he lives after that period of time, he will receive $18.000 at the end of the contract as a premium return.

4 0

3 years ago

Can Anybody Help? Need All 4 Questions Answered

Marat540 [252]

Answer:

1. It is ethical for her to list her job duties in great detail as she ahs still done the job in question.

2. It is unethical to embellish her job responsibilities as she includes responsibilities in her job that she has not done and has therefore lied to the job she is applying for.

3. Problems she may face is being fired for lying, made to do work that is not in her capabilities and can potentially damage the work assigned and job in general, as well as trouble by her colleagues and boss

4. She can include attributes that make her a promising individual. For example she states she can "learn on the fly" and thus can write in her resume that she is a quick learner and can adapt easily to her surroundings.

3 0

3 years ago

Whether a firm has growth or value and how this firm characteristic affects an estimate of the cost of equity is called the ____

Dahasolnce [82]

It is called value factor. There are two kinds of value factor one is present value factor and second is future value factor. The business or anything in the business has their value on their own. The future value factor is used to calculate the future value of the amount per dollar of its present value. It is the amount greater than a dollar and you can see this on the table when you calculate the future value or FV. Present Value factor is based on the time and money when you borrow or it is the debt that can grow in the span of time.

5 0

3 years ago

Auditors may decide to perform some tests of controls or not perform any tests of controls, if inherent risk is assessed as ____

Ivanshal [37]

Answer: Moderate or low

Explanation:

Tests of Control are one by auditors to determine the effectiveness of the internal controls in the company in being able to detect accounting errors and anomalies.

If a company seems to have a moderate or low inherent risk the Auditors may or may not initiate Tests of Control due to this reduced risk.

If the company however, has either high or moderate or unusually high risk, the Auditors have to perform Tests of Control to determine where the company is going wrong.

6 0

3 years ago