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kirill [66]
3 years ago
7

In a free market​ system, ____. A. central planning determines supply B. government forces primarily determine prices C. most ne

w business development is limited by government forces. D. private wealth and property ownership are not permissible E. individuals and companies may compete for their own economic gains
Business
1 answer:
natka813 [3]3 years ago
4 0

Answer: Option E

Explanation: In a free market system the prices of goods and services produced are determined by the market forces of demand and supply. This are also known as open market.

The intervention of govt. in regulating such markets is very minimal. Thus, the control in such markets stands in hands of private owners. Therefore, the private owners produce with the single aim of profit maximization in such economies.

Hence we can conclude that the right option is E.

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2. A fancy steakhouse in a shopping mall offers a 20% discount to employees of other stores in the mall, provided that they eat
krok68 [10]

Answer:

Different aspects to be considered:

First of all, the steakhouse probably has the most clients between 6 to 8 PM, that is why discounts are not offered during that time.

Second, the discount is offered to only a certain group, employees of other stores, because it is a promotional strategy aimed at increasing the number of clients during slow hours. Since this is a fancy place, it is probably expensive also. Most employees would not actually eat there except on a special event, e.g. birthday or anniversary dinner. Even with the 20% discount, not many of them will actually eat there.

This is something nice to offer, since a shopping mall is a close environment where a lot of different people work together, even if very few will actually take the offer. It is normal that different stores have distinct promotions for the employees that work there. It is similar to offering perks that help create a better working environment between the employees of different stores.

8 0
3 years ago
The balance sheet of Starsky Company at December 31, 2019, includes the following. Notes receivable $36,000 Accounts receivable
Arturiano [62]

Answer:

Journal Entry

Explanation:

1. Cash Dr,                                      $136,800  

Sales Discount Dr,                         $1,200

($60,000 × 2%)

         To Accounts receivable     $138,000

(Being cash is recorded)

2. Accounts receivable Dr,            $5,300  

      To Allowance for doubtful accounts $5,300

(Being written off is recorded)

     Cash Dr,                                        $5,300  

       Accounts receivable                  $5,300

(Being payment received is recorded)

3. Allowance for doubtful accounts Dr, $17,500  

       To Accounts receivable              $17,500

(Being  written off is recorded)

4. Bad Debts expense Dr,                $14,900

=$20,000 - ($17,300 + $5,300 - $17,500)

    To  Allowance for doubtful accounts  $14,900

(Being bad debt expenses is recorded)

8 0
3 years ago
On September 15, 2021, the Scottie Company board of directors declared a 8% stock dividend on common shares. The shares are to b
iren [92.7K]

Answer:

Date         General Journal                             Debit           Credit

Sept 15     Stock dividend                           $2,342,400

                 (1,200,000*8%*24.4)

                         Common Stock dividend distributable    $480,000

                          (1,200,000*8%*5)

                          Paid in capital in excess of par-              $1,862,400

                          Common Stock

Oct 1         No Journal entry

Oct 10       Common Stock dividend             $480,000

                 distributable  

                           Common Stock                                          $480,000

3 0
2 years ago
The Peach Corporation provides restricted stock to certain executives. Under the plan, the company granted 30 million shares on
daser333 [38]

Answer:

1. Determine the total compensation cost pertaining to the restricted stock.

  • 30 million x $14 = $420 million

2. Prepare the appropriate journal entries

December 31, Year 1:

Dr Stock compensation expense 105,000,000

    Cr Additional paid in capital - restricted stock 105,000,000

December 31, Year 2:

Dr Stock compensation expense 105,000,000

    Cr Additional paid in capital - restricted stock 105,000,000

December 31, Year 3:

Dr Stock compensation expense 105,000,000

    Cr Additional paid in capital - restricted stock 105,000,000

December 31, Year 4:

Dr Stock compensation expense 105,000,000

    Cr Additional paid in capital - restricted stock 105,000,000

January 1, Year 4, the stocks are handed out:

Dr Additional paid in capital - restricted stock 420,000,000

    Cr Common stock 420,000,000

6 0
3 years ago
Suppose that for 10 bicycles, the total fixed cost is $100 and total variable cost is $300. Then the average fixed cost and aver
Stells [14]

The price one bicycle is $21

Explanation:

because 100÷10=0.1

and the total is 300$

300-100=20

20+0.1=20

answer is 21

7 0
2 years ago
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