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4 years ago

When demand for a product changes because of its price, this product is said to be elastic.

Business

2 answers:

LiRa [457]4 years ago

8 0

True
When a product is elastic, a change in price quickly results in a change in the quantity demanded.

Alex4 years ago

7 0

The correct answer is True,

Explanation

Elasticity is a term used in economics to describe the reaction capacity of a product to a change in its demand according to price. This means when the value is high there is less consumption or demand and the value is higher, so most luxury items are considered elastic goods or products. In the same way, if the price reduces then the demand increases. For example, diamonds can be considered an elastic product because if their price fell, everyone would buy them or the demand would increase. So, the correct answer is True.

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Zenith Consulting Co. has the following accounts in its ledger: Cash; Accounts Receivable; Supplies; Office Equipment; Accounts

Blizzard [7]

Answer:

Zenith Consulting Co.

Journal entries:

Date Description Debit Credit

March 1: Rent Expense $2,100

Cash Account $2,100

To record payment of rent for the month.

March 3: Advertising Expense $650

Cash Account $650

To record advertising expense paid for the month.

March 5: Supplies $1,350

Cash Account $1,350

To record the payment for supplies.

March 6: Office Equipment $9,300

Accounts Payable $9,300

To record the purchase of office equipment on account.

March 10: Cash Account $15,600

Accounts Receivable $15,600

To record cash received from customers on account.

March 15: Accounts Payable $3,430

Cash Account $3,430

To record the payment of creditor on account.

March 27: Miscellaneous Expense $500

Cash Account $500

To record the payment for miscellaneous expenses.

March 30: Utilities Expense $300

Cash Account $300

To record the payment of telephone bill for the month.

March 31: Accounts Receivable $51,230

Fees Earned $51,230

To record fees earned and billed to customers for the month.

March 31: Utilities Expense $840

Cash Account $840

To record the payment for electricity bill for the month.

March 31: Dividends $1,650

Cash Account $1,650

To record the payment of dividends.

Explanation:

A two-column journal has a debit column and a credit column for initial recording of business transactions. A journal identifies the account to be debited and the one to be credited in the general ledger.

4 0

3 years ago

A user video is claimed by one asset with a policy of Monetize worldwide and claimed separately by another asset with a policy o

horsena [70]

Answer:

It is "Block worldwide" policy.

Explanation:

When a user video is claimed by one asset with a policy of Monetize worldwide and claimed separately by another asset with a policy of Block worldwide. If both partners own their respective assets worldwide, it is a block worldwide policy that is applied.

7 0

4 years ago

Brenda wants to reduce mass media imc and to increase the use of personalized marketing communication messages. To achieve this

Alekssandra [29.7K]

The correct answer is Direct Marketing.

Brenda wants to reduce her mass media imc and to increase the use of personalized marketing communication messages. To achieve this goal, Brenda will likely increase her use of Direct Marketing.

<h3>What do you know about Direct Marketing? </h3>

It is a form of direct communication with the selected customer, organization, or other firms.
This form of marketing may be intrusive and annoying for a lot of people.
The response rate is also quite low for direct marketing.
We usually need to promote our products or services with this kind of marketing.
It helps you in building a direct bond or direct relationship with new customers.
It can also help in understanding the appeal of the product.

To learn more about marketing visit: brainly.com/question/14201420?

#SPJ4

7 0

2 years ago

Bissell Company received the following reports of its defined benefit pension plan for the current calendar year: PBO Plan asset

Vikentia [17]

Answer:

$210,000

Explanation:

Calculation to determine the pension expense for the year

Service cost $197,000

Interest cost $39,000

Less Expected return on plan assets ($26,000) ($260,000*10%)

Pension expense $210,000

Therefore the pension expense for the year will be $210,000

8 0

3 years ago

employees earn vacation pay at a rate of one day per month. During December, 35 employees qualify for one vacation day each. The

Blababa [14]

Answer:

Listed below are a few transactions and events of Maxum Company.

1. Employees earn vacation pay at a rate of one day per month. During December, 35 employees qualify for one vacation day each. Their average daily wage is $160 per employee.

2. During December, Maxum Company sold 4,500 units of a product that carries a 60-day warranty. December sales for this product total $125,000. The company expects 7% of the units to need warranty repairs, and it estimates the average repair cost per unit will be $10.

Prepare any necessary adjusting entries at December 31, 2017, for Maxum Company’s year-end financial statements for each of the above separate transactions and events.

Vacation benefits expense

= number of employees × number(s) of day × the average daily wage per employee

Given,

number of employees = 35

number(s) of day = 1

The average daily wage per employee = $160

= 35 employees × 1 day × $160

= $5,600

Warranty expense

= number of units of products sold × percentage of the units for warranty × the average repair cost per unit

Given,

number of units of products sold = 4500 units

percentage of the units for warranty = 7%

The average repair cost per unit = $10

= 4,500 units × 7% × $10

= $3,150

P.S. The attached image duly shows the answer.

4 0

3 years ago