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MrRa [10]
3 years ago
8

A company reports the following amounts at the end of the year:

Business
1 answer:
Inga [223]3 years ago
8 0

Answer:

33.33%

Explanation:

Given:

Sales revenue = $360,000

Cost of goods sold = $240,000

Net income = $53,000

Now,

the gross profit = Sales revenue - Cost of goods sold

or

The gross profit = $360,000  - $240,000  = $120,000

Thus,

the company's gross profit ratio = \frac{\textup{Gross Profit}}{\textup{Sales revenue}}

or

The company's gross profit ratio =  \frac{120,000}{\textup{360,000}

or

The company's gross profit ratio = 33.33%

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Which of the following are considered characteristics of money? I. Portable II. Uniform III. Divisible IV. Acceptable a. I and I
pogonyaev

All options are considered characteristics of money. So the right option is E

Explanation:

Money is characterised by durability portability, divisibility, uniformity, limited supply, and acceptability.

Two representations of alternative forms of money can be compared:

  • A cow In various points in history, cattle were used as currency.
  • A stack of US$ 20 bills equal to one cow's worth.

1) Durability: A cow is quite safe, but a long journey on the market threatens the cow being sick or dead and can seriously reduce its worth.

2) Portability: Although the cow is hard to move to the market, it can easily be put into my pocket.

3) Divisibility: A 20-dollar bill can be exchanged for other denominations, say a 10, a 5, four 1s, and 4 quarters. A cow, on the other hand, is not very divisible.

4) Uniformity: Cows come in various sizes and shapes, with a different value for each; cows are not very standardized.

5) Limited supply: Money must have a limited supply to sustain its worth. Although cows are quite limited in supply, if they are used as income, ranchers should make every effort to increase the supply of cows that decreases their value. The Federal Reserve controls the rule and thus the interest of 20-dollar notes— and the currency as a whole— so that the money keeps the value over time.

6) Acceptability: Although the worth of cows is intrinsic, some might not consider bovine animals as property. Men, however, are more than willing to accept bills worth 20 cents. In fact, your right to use US currencies to settle bills is protected by the US government.

8 0
3 years ago
On January 1, Year 1, the Accounts Receivable balance was $20,100 and the balance in the Allowance for Doubtful Accounts was $1,
wel

Answer:

$18,400

Explanation:

A/R                                                               $20,100

Less: Allowance for doubtful accounts         ($1,700)

net realizable value of A/R                             $18,400    

The write off amount is already included in allowance for doubtful accounts on provision basis therefore it can't be separately deducted again.                                                

4 0
3 years ago
Rachael’s Restaurant, a fast-food restaurant company, operates a chain of restaurants across the nation. Each restaurant employs
netineya [11]

Answer:

a. Advertising costs relative to the number of customers for a particular restaurant.   [Fixed]

b. Rental costs relative to the number of restaurants.  [Variable]

c. Cooks salaries at a particular location relative to the number of customers.          [Fixed]

d. Cost of supplies (cups, plates, spoons, etc.) relative to the number of customers.  [Variable]

e. Manager's compensation relative to the number of customers.  [Mixed]

f. Servers' salaries relative to the number of restaurants.  [Variable]

Explanation:

8 0
3 years ago
Discuss reasons why a business needs funding ?
castortr0y [4]

Answer:

Firms need finance to:

start up a business, eg pay for premises, new equipment and advertising.

run the business, eg having enough cash to pay staff wages and suppliers on time.

expand the business, eg having funds to pay for a new branch in a different city or country.

3 0
2 years ago
Which of the following methodologies might be most appropriate if you have a system project with: unclear requirements; very fam
Anna71 [15]

Answer:

The last option is wrong, the correct option to that question is: Extreme Programming.

And the correct answer is that option.

Explanation:

To begin with, the name of <em>"Extreme Programming"</em> refers to a specific methodology of development of software that mainly focuses in the improvement of software quality and the responsiveness to changing customers requirements. Moreover, this methodology best fits in the cases where the system project comes with unclear requirements and where there is a short time schedule due to the fact that as a type of agile software development it advocates frequent releases in short time cycles that are primarily focus on introducing checkpoints in where the requirements of the consumers who are unclear can be adopted.

5 0
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