Answer: The mean income of the three people surveyed is $33,000.
The mean or average of a data set is nothing but the sum total of all the observations in a given set of data divided by the number of observations.
The formula for calculating the mean is:
where
is the mean or average
X₁ , X₂, X₃ .......Xn refers to the observations
N is the total number of observations
Substituting the values in the formula for mean we get,
The ability to meet short-term obligations and efficiently generate revenues is called Liquidity.
Liquidity is the ease or speed with which money can be raised to meet short-term financial responsibilities such as paying bills. Stocks and bonds, as well as other easily tradable assets, are regarded as liquid assets.
A company's liquidity can be determined by how well it can meet its short-term obligations, particularly those that are due in less than a year. What the business owes in comparison to what it owns is typically represented as a ratio or percentage. You can gain insight into the company's financial situation by using these metrics.
The liquidity status of a business is primarily affected by two factors. The first factor is its capacity to transform assets into cash to cover its present liabilities (short-term liquidity). Its debt-carrying capability is the second.
To learn more about Liquidity refer to:
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Answer:
$9,400
Explanation:
The computation of deductible expenses is shown below:-
Airfare = $400
Lodging = $300 × 5
= $1,500
Meals = $150 × 5
= $7,500
Total deduction = Airfare + Lodging + Meals
= $400 + $1,500 + $7,500
= $9,400
Therefore for computing the total deduction we simply add airfare, lodging and meals and hence the total deduction is $9,400
Answer:
inventory
Explanation:
Every item that is produced or purchased by the business in order to resell it and earn profit through it as a normal purpose of business, is considered as inventory.
In the given instance, Shroden manufactures consumer goods, like cookies, batteries, etc:
And since he targets to sell them and earn profit, all these manufactured products is the inventory of his business.
