Answer:
Pro forma invoices are commonly used as preliminary invoices with a quotation, or for customs purposes in importation. They differ from a normal invoice in not being a demand or request for payments.
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Answer:
Explanation:
Company ABC operates a nail salon that specializes in artificial nails. It has two primary clients, women who get their nails done infrequently (i.e., once or twice per year), and women who continuously wear fake nails
Answer:
The correct answer is: price elasticity of supply and demand.
Explanation:
The government introduces a $4 per unit tax on the supply of automobile tires. The tax is imposed on the suppliers. The effect of the imposition of tax will remain the same whether the incidence falls on the buyer or seller. The imposition of tax will lead to an increase in the price of the commodity.
The burden shared by the buyers and sellers depends on the elasticity of demand and supply. If demand is more elastic than the supply, the supplier will bear the greater burden and vice versa.
Answer and Explanation:
If there is decrease in fair value of an asset as is seen in the example with Pitbull corporation, we decrease asset revaluation reserve in the balance sheet by the value reduced $50000 here to recognise new carrying value of the asset and then debit the expenses of revaluation to the income statement or profit and loss account. If there was an increase in fair value, revaluation would add to retained earnings in balance sheet and income in income statement
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