Answer and Explanation:
The journal entry is shown below:
Cash Dr $98,800
Finance charge Dr ($120,000 × 1%) $1,200
To Liability - Financing Arrangement $100,000
(being receipts of cash is recorded)
Here cash and finance charge is debited as it increased the assets and expenses and liability is credited as it also increased the liabilities. Also, the cash & expenses contains normal debit balance and liabilities contains normal credit balance
<span>When you make this decision, you are primarily using your critical thinking. You are using information you were given in the past and applying it to future events.</span>
Answer:
I do not agree that "the needs of a society conflict with the goals of the financial services industry's desire to make a profit", but on the contrary, I consider that the economic objectives of the financial system contribute to the well-being of the individuals that make up society, with which they satisfy the needs of this in an indirect way.
I believe this because the financial system, through its will to profit, creates jobs and economic opportunities for individuals, who would otherwise be forced to meet their needs without the help of a system designed to profit as a result of work done (such as communism).
Answer:
Test marketing
Explanation:
Test marketing is a marketing strategy that is undertaken to assess how a product or service will be perceived by the larger market. A small number of representatives is chosen to try the new product or service before the product is launched to the larger market.
Answer:
<em>1. When the price of fresh fish increases 5%, quantity demanded decreases 10%. The price elasticity of demand for fresh fish is elastic.</em>
<em>2. The determinants of elasticity include d) all of the above.</em>
<em>3. Cross-price elasticity of demand measures the response in the d) quantity of one good demanded to a change in the price of another good.</em>
<em>4. A value of price elasticity of demand equal to 2 means that b) quantity demanded falls by two times the amount of an increase in price.</em>
Explanation:
<em>Price elasticity of demand = % change in quantity demanded of a good / % change in price of the good</em>. Value greater than 1 implies quantity demanded is price elastic, equal to 1 implies quantity demanded is price unitary elastic and smaller than 1 implies quantity demanded is price inelastic.
<em>Cross Price Elasticity of demand = % change in quantity demanded of a good / % change in price of another good</em>.
For rest, refer to the answer.
