Answer:
The correct answer is letter "C": music downloads and CDs are substitutes, and music downloads and MP3 players are complements.
Explanation:
Substitute goods or services are competitors. The use of one of them represents the replacement of the other. On the other hand, complementary goods are those that work better together. Typically, the demand in one of them is directly proportional to the demand of the other. It means, if more of product "A" is bought, more of product "B" will be purchased and vice versa.
Thus, <em>for Phil CDs and music downloads are substitutes while music downloads and MP3 players are complements.</em>
Answer:
Schedule:
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Journal entries:
equipment 113,515 debit
lease liablity 97,815 credit
cash 15,700 credit
--to record lease agrement and first payment.
interest expense 2,934 debit
lease liability 2,934 credit
--to record interest for the year 2021--
lease liablity 15,700 debit
cash 15,700 credit
--to record Jan 1st,2022 Payment--
Explanation:
As the payment are at the beginning there is no interest in the first period.
We record the expense for the year at Dec 31th Increasing the liability. When paying we increase decrease the liability and cash.
Answer:
In the U.S. our justice system and society in general are built on a foundation of due process or fairness. The goal of this foundation is to ensure justice equal for all. To maintain fairness, it is important to show it to all. Being fair to others is a way to protect your own right to due process.
Explanation:
Answer:
Explanation:
• Variable costs are costs that varies with activity level. It means that these costs changes as more and more goods and services are produced by a company. Total variable cost changes with change in output produced by a firm in the long run.
Examples of variable costs are costs of raw materials used in producing goods, direct labor costs, sales commission etc.
• Fixed costs are costs that does not vary with activity level. This means that these costs remains the same as more and more goods are produced by a company. The total fixed cost does not change with changes in output produced by a company in the short run.
Examples are rent payments, salaries, depreciation.
•Mixed costs are costs that have components of both fixed and. variable costs. The fixed part of mixed cost remains unchanged as activity level increases or decrease while the variable part changes with activity level. The fixed part of a total cost function of a mixed cost remains the same as activity level increases in the short run, while the variable part changes with output level in the long run.
Examples are utilities, insurance, operating license
•Step costs. These are costs that remains the same at an activity level but increases or decreases when the threshold of an activity is achieved.
Example is a factory production supervisor salary
