Answer:
Sales Revenue – Cost of Goods Sold = gross profit
Explanation:
In order to determine the income statement components, the following component is shown
Gross profit = Sales revenue - the cost of goods sold
where,
Sales revenue represents the sales of the business organization
And, the cost of goods sold would be
= Opening inventory + Purchase - ending inventory
By deducting the cost of goods sold from the sales revenue the gross profit can arrive
Answer:
- $17,600
Explanation:
The computation of the net decrease in cash during the month is shown below:
= $40,600 - $17,400 - $30,200 - $2,300 - $8,300
= - $17,600
After calculating the items which are presented in the column 1 represent the net decrease in cash for $17,600 amount.
The net decrease in cash represents an outflow of cash. In this, the chances of loss may be higher than the loss.
Answer: Wholesaler
Explanation:
Television Haven buys televisions from a manufacturer and then sells them to department stores. Television Haven is most likely a wholesaler.
A wholesaler involves someone who buys goods from the manufacturer or producer in bulk, that is large quantities and then sell to the retailers after which the retailer then sells to the consumers
Here, Television Haven is a whilesaler while the department store is a retailer.
The statement that must be true about the demand for a product if it is inelastic is that, a price increase does not have a significant impact on buying habits. The correct answer would be option B. When the demand is inelastic, this situation means that the demand for a product does not decrease nor increase in corresponds to the rise or fall of its price.
Answer:
To be considered as a producer, we need to create some sorts of goods or services and exchange it with the customers in order to obtain some sort of financial gain. I believe that a host who seats customers in a busy restaurant would be considered a producer because he is providing a service to consumers.
Hope this helps!
