The statement that the percent sales method for estimating bad debts for a company, will only use those balances in the income statement is False.
<h3>What is the percent of sales method?</h3>
The percent of sales method is one of the methods that companies can use to estimate the bad debts that it expects in a given period. Bad debts refer to those Account Receivables that will not pay the company back even after they have taken goods or services on credit. In order to be able to use the percent of sales method, the sales of a company need to be known.
The sales that a company makes includes both the sales that the company made and the accounts receivable. The Accounts Receivables go to the Balance Sheet and Sales go to the Income Statement. This means that the Balance Sheet balances are used as well as Income Statement balances and not just the latter.
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Answer:
Present Value= $1,772.115
Explanation:
Giving the following information:
You have won the $3 million first prize in the Centennial Lottery.
However, the prize will be awarded on your 100th birthday, 78 years from now. What is the present value of your windfall if the appropriate discount rate is 10 percent.
We need to use the following formula:
PV= FV/[(1+i)^n]
PV= present value
FV= final value
PV= 3000000/(1.10^78)= $1,772.115
Answer:
$80 lost for not working
Explanation:
Opportunity cost refers to the sacrificed benefits as a result of preferring on a particular option over another. As people make choices, the forfeit one option in favor of another. Opportunity cost is the missed value of the next best alternative.
For John, he has a choice between working or going to the concert. He has two tickets worth $50. Working would mean her twice her regular income, which is $20 per hour. If he works for four hours, his total earning will be $80. If John chooses to go to the concert, he will miss the opportunity to earn $80. The opportunity cost will be the missed $80 that he would have received from working.
Answer:
A. doesn't lose any sales when it raises its price
Explanation:
- As monopoly is ruled by one set of prices and they are price makers thus even f the prices rise the price will be set above the marginal cost to maximize the profits. Thus a monopoly does not lose its market share as it acts as a single dominating factor in the supply and trade of the goods and services. And it stipulates the financial dealing through a single seller.
Answer:
The answer is C. Government licensing allows media companies to have a near monopoly.
Explanation:
Not anyone can start a media company just because they want to. There are barriers to entry such as the large capital expenditure, staffing, and the government licensing.
Among these, the major contributor towards the marketto become an oligopoly is the government licensing process.
There are many things to consider and do during the licensing process and it is highly time consuming as well. Moreover, the costs involved is significantly high as well.
