When two products have similar core features, but are produced by different companies, competition results. Research your competition to figure out where you fit in or what to change.
Answer:
The operating income for the year is $97,000
Explanation:
For computing the operating income, first, we have to calculate the cost of goods sold. The formula to compute the cost of good sold is shown below:
= Beginning merchandise inventory + Purchases during the year - Ending merchandise inventory
= $33,200 + $92,000 - $35,000
= $90,200
Now, the operating income would be
= Sales - the cost of good sold - selling and administrative expenses
= $262,900 - $90,200 - $75,700
= $97,000
Answer:
d.economic duress
Explanation:
The economic duress in simple terms means a party who is entering into a contract frightens or threatens of cancelling the contract or does not act according to the terms of the contract unless the other party in the contract agrees to their demands.
In the context, the conduct of Roger against Karl is probably can be called as the 'economic duress' as Roger informs Karl before the deadline of filing the response that he will not represent himself against IRS unless Karl enters into a deal of an expensive retainer agreement. Thus it is an economic duress that Roger is showing and forcing Karl to agree on his demands.
Answer: Monetary unit assumption
Explanation: The monetary unit of assumption states that every transaction of the business can be expresses in relation to monetary units and these units will be stable over time. The key point in this assumption is that it assumes monetary units to be stable and dependable.
In the given case, Lawton records transactions in dollars and disregards changes in value of dollars over time. Hence, we can conclude that Lawton is following monetary unit assumption.
Income elasticity of demand measures the receptiveness of the quantity demanded for a good or service to a change in income.
It's calculated as the ratio of the percentage change in quantity demanded to the percentage change in income.
Explanation:
Hope this helps!!
