Answer:
income elasticity of demand for mangoes = 3.53
Explanation:
given data
income is $500 per week
mango price = $1
buys = 4 mangoes
income increases = $560 per week
mangoes increases = 6
solution
we get here income elasticity of demand for mangoes that is express as
income elasticity of demand for mangoes =
income elasticity of demand for mangoes = 3.53
False.A person's net worth statement shows a person's net worth based on assets and liabilities Done through:
Assets- money or items of value (car, house)
Liabilities- debts you owe (loans)
Answer:
Debit Cash $2.02 million; Credit Other financing sources
Explanation:
If Sugar City issued $2 million of bonds to fund the construction of a new city office building, and the bonds were sold at 101. The entries that should be made in the capital projects fund to record this event is: Debit Cash $2.02 million; Credit Other financing sources.
Sugar City practices governmental or public sector accounting which is a bit different from private sector accounting where the credit would have been treated differently.
Since this is a project and no encumbrance has been made against fund balance, and the cash is coming in from fresh issue of bond; the entry would be a debit to cash for the receipt and a credit to 'other financing sources'
Answer:
The products by services companies are consumed immediately.
Explanation:
Goods are physical tangible products that are used to satisfy human needs and wants. On the other hand, services are non-physical, nontangible products that also serve the purpose of satisfying human needs and wants.
The manufactured good can be stored in inventories after production, however, the services are consumed as they are produced. They cannot be stored in inventories to be consumed later. They have to be consumed immediately.
This is the main difference between the products of manufacturing companies and services companies.
Answer:
$8,000
Explanation:
The entrepreneur needs $20,000. She can raise 60% from savings. It means she needs to generate 40% from other sources.
40% of $20,000 is
=40/100 x $20,000
=0.4 x $20,000
=$8,000