Answer:
The answer to this question is b. Yours will be positive and your roommate's would be negative.
Explanation:
Income elasticity of demand is the degree of responsiveness of demand to changes in income. In other words, it measures how changes in income of consumers will affect the quantity of commodities demanded by such consumers.
An income elasticity of demand can be positive or negative.
It is positive, when an increase in income leads to an increase in the quantity demanded by the customer. However it is referred to as negative when an increase in income leads to decrease in the quantity demanded by the consumer.
In the question above, it can be seen that the increase in income of the first person brought about increase in the commodity demanded thereby making his income elasticity of demand positive. one the other hand, the increase in the income of his roommate, brought about decrease in his demand which translate to the fact that his income elasticity of demand would be negative.
Hence the answer given.
Answer: the one that is false is A. Emergency plans ensure that all resources can be obtained through internal sources within the jurisdiction.
Question:
When performing capital budgeting, __________ incurred by a project are irrelevant to future investment decisions.
A) Opportunity costs
B) Depreciation
C) Sunk costs
D) Taxes
Answer:
The correct answer is C) Sunk Costs
Explanation:
Capital Budgeting is the art (most applicable to corporate persons) of planning expenditure that will be incurred in the future, especially on long term assets.
The reason you cannot factor Sunk Cost into a Capital Budget is because of its very nature.
Sunk Costs refer to monies for items that have already been expended and can never be recovered. If it can never be recovered and has <u>already</u> been incurred, it has no role to play in future considerations especially when the purpose of Capital Budgetting is considered.
The primary purpose of a Capital Budget is that it helps to further evaluate the inflow against the outflow of an investment to check whether or not the return is acceptable.
Every other option given in the question above are items that have futuristic qualities.
Cheers
Answer:
210
Explanation:
- The number of race cars = N₁ = 3
- The number of gasoline brands = N₂ = 5
- The number of test sites = N₃ = 7
- The number of drivers that participated = N₄ = 2
This study must include each N₁, and it has to be done at each N₃, using each N₂, while carried out by each N₄ ⇒ that means that the total number of possibilities:
N₁ x N₃ x N₂ x N₄ = 3 x 7 x 5 x 2 = 210
The total number of test runs is 210.
Answer:
Clooney Corp.
Petty Cash Journal Entry
<em>Sr. No Particulars Debit Credit</em>
1 Petty Cash $200
Cash $200
Establishing Petty Cash
2. (Employee Name;s ) Entertainment Expenses $25 Dr
Petty Cash $ 25 Cr
Recording employee petty cash expenditures
Credit Card Expenditures Entries
1. Postage, $44; Dr
Delivery, $69; Dr
Supplies expense, $34 Dr
Credit Card Payable 147 Cr
Credit Card Payable is a liability and appears in the balance sheet . It has to be paid in the future.
2. Credit Card Payable 147 Dr.
Cash 147 Cr
When the liability is paid this entry is made.
