People bought more goods and created high demand for new products
Based on the sales revenue and the net accounts receivable, the receivables turnover ratio is 12 times .
<h3>What is the receivables turnover ratio?</h3>
This can be found as:
= Net sales revenue / Average accounts receivable
Solving give:
= 720,000 / (62,000 + 58,000) / 2
= 720,000 / 60,000
= 12 times
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The interpersonal skills that are used to create long lasting connections with those around you are Relationship-building skills.
Interpersonal skills are those skills and tactics that are used by people to have an effective communication and relationship with others. While some people are born with this skill, for others it is learnt.
Relationship building skills help to develop long lasting relationship with other people.
A person with this skill
- Is A good listener
- Has empathy
- Thinks of others
- Pays attention to others
- Knows how to say the right words
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If a perfect competition firm is producing a quantity where mc < mr, then profit can be increased by increasing production.
Because competing businesses compel them to adopt the market's current equilibrium price, a perfectly competitive firm is referred to as a price taker. A company will forfeit all of its sales to rivals if it increases the price of its product by even a penny in a highly competitive market.
There are numerous buyers and sellers in a market with perfect competition, and prices always reflect supply and demand. The businesses can enhance profit by raising output if it is producing at a level where MR > MC, such as 40 or 50 packs of raspberries. This is because the marginal revenue is higher than the marginal cost
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Answer:
a. banks hold reserves equal to only a fraction of their deposit liabilities.
Explanation:
The Federal Reserve System ( popularly referred to as the 'Fed') was created by the Federal Reserve Act, passed by the U.S Congress on the 23rd of December, 1913. The Fed began operations in 1914 and just like all central banks, the Federal Reserve is a United States government agency.
Generally, it comprises of twelve (12) Federal Reserve Bank regionally across the United States of America.
Like all central banks, the Federal Reserve is a government agency that is saddled with the following responsibilities;
I. The Fed controls the issuance of currency in United States of America: it promotes public goals such as economic growth, low inflation, and the smooth operation of financial markets.
II. It provides banking services to all the commercial banks in the country because the Federal Reserve is the "lender of last resort."
III. It regulates banking activities in the United States of America: it has the power to supervise and regulate banks.
In the banking system, fractional reserve banking describes a situation in which a depository financial institution such as a bank, hold an amount of reserves that is typically equal to only a fraction of its deposit liabilities.