1. Direct
2. Indirect
I think this is correct.
Answer:
The demand for Jim’s product is elastic
Explanation:
In this question, we are to calculate the price elasticity of demand for the product.
We proceed as follows;
The formula for calculating elasticity of demand is
e = [(Q2 - Q1) / {(Q1 + Q2) / 2}] / [(P2 - P1) / {(P1 + P2) / 2}]
Here, Q2 = 6000
Q1 = 8000
P2 = $250
P1 = $200
e = [(6000 - 8000) / {(8000 + 6000) / 2}] / [($250 - $200) / {($200 + $250) / 2}]
e = [(- 2000) / 7000] / [(50 / 225]
e = - 1.3
That means absolute value of e is 1.3.
So, as the absolute value of e is more than 1 (i.e., 1.3), that means the demand for the product is elastic.
Answer:
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3. Short surveys
Explanation:
Financial statement analysis is the method of analyzing the economic structure and reviewing the future of a business to earn income.
Types of Financial statement analysis are as follows:
- Fundamental analysis
- Horizontal analysis
- Vertical analysis
- Ratio analysis
- DuPont analysis
- Dividend discount model
The 3rd option is given as Short surveys which is a non-financial method of analysis.
Answer:
Debit Cash account $16,800
Credit Unearned Subscription Revenue $16,800
Explanation:
When a fee is received in advance for a service yet to be rendered, the revenue for such fee is said to be unearned. The entries required are
Debit Cash account and Credit Unearned fees or deferred revenue.
As the service is performed and the revenue is earned, debit Unearned fees and credit revenue.
Total amount received
= $20 * 8400
= $16800
