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Leona [35]
3 years ago
10

Which type of small store carries a limited line of high-turnover convenience goods and makes most of its revenues from cigarett

e, beverage, and gasoline sales?
A) hypermarket
B) chain
C) convenience
D) supermarket
E) department
Business
1 answer:
Romashka-Z-Leto [24]3 years ago
6 0
C) convenience de others don’t make most of its revenues from those items
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Becky only eats out at Macaroni Grill and eats out 3 times per month. She receives a raise fro $31,900 to $33,500 and decided to
ololo11 [35]

Answer:

Since elasticity is 6.4, a positive figure,it is normal good and the fact that it is greater than one means it is elastic,hence option A is correct

Explanation:

The formula for income elasticity of demand is given as:

/(new quantity-old quantity)//(old price+new price)/2)/(New income-Old income)/(old income+new income)/2)

New income=$33,000

Old income=$31,900

New quantity =5 times

Old quantity=3 times

Hence=(5-3)/(3+5)/2)/(33500-31900)/(31900+33500)/2)

Elasticity=6.45

6 0
3 years ago
On July 1, 20X1, James and Short formed a partnership. James contributed cash. Short, previously a sole proprietor, contributed
Brrunno [24]

Answer:

James and Short LLC

Short's capital account on July 1, 20X1 should be recorded at the fair value of contributed property minus the mortgage liability, which the partnership assumed.

Explanation:

The fair value of contributed property is the current market value of the contributed property by Short.  It is the market value that will determine how the contributed property can be valued.  The market value assumes that the contributed property is being sold in pieces and not as a whole.  This is why the value is considered a fair basis for recognizing the capital contribution of Short into the partnership.

3 0
3 years ago
*A product cost is Group of answer choices expensed in the period in which the product is manufactured shown with current liabil
inn [45]

Answer:

expensed in the period in which the product is manufactured.

Explanation:

A product can be defined as any physical object or material that typically satisfy and meets the demands, needs or wants of customers. Some examples of a product are mobile phones, television, microphone, microwave oven, bread, pencil, freezer, beverages, soft drinks etc.

Manufacturing costs can be defined as the overall costs associated with the acquisition of resources such as materials and the cost of converting these raw materials into finished goods. Manufacturing costs include direct labor costs, direct materials cost and manufacturing overhead costs.

Generally, a product cost or the cost associated with the manufacturing of a particular product is expensed within the period in which it was manufactured by the firm.

3 0
2 years ago
In general, individuals and nations should specialize in producing those goods for which they have a(n):
lesya [120]

Answer:

Comparative advantage.

Explanation:

Comparative advantage in economics is the ability of an individual or country to produce a specific good or service at a lower opportunity cost better than another individual or country.

The comparative advantage gives a country a stronger sales margin than their competitors as they are able to sell their specific products or render their peculiar services at a lower opportunity cost.

In 1817, David Ricardo who is an english political economist talked about the law of comparative advantage in his book “On the Principles of Political Economy and Taxation." Also, the principle of comparative advantage states that, nations (countries) can become better off than their contemporaries through the process of specializing in what they know how to produce or do best.

This simply means that, any country applying the principle of comparative advantage, would enjoy an increase in output and consequently, a boost in their Gross Domestic Products (GDP).

In general, individuals and nations should specialize in producing those goods for which they have a comparative advantage.

8 0
3 years ago
Allowance for Doubtful Accounts has a debit balance of $845 at the end of the year (before adjustment), and an analysis of accou
egoroff_w [7]

Explanation:

Given that

Debit balance = $845

Uncollectible receivables = $15,368

The Journal entry is given below:-

1.    Bad debt expenses                                        $16,213

            To, Allowance for Doubtful Accounts                    $16,213

(Being bad dept expenses is recorded)

Note

Computation is shown below:-

Debit balance + Uncollectible receivables

= $845 + $15,368

= $16,213

5 0
3 years ago
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