Answer:
<u>A. elastic;</u> <u>inelastic </u>
Explanation:
Price elasticity of demand refers to degree of responsiveness of quantity demanded of a good with respect to a change in the price. It is mathematically expressed as:
wherein dQ= Change in quantity demanded
dP = Change in price
p = Original Price
q = Original quantity
Total revenue refers to total receipts of a firm from the sale of a good.
When price elasticity of demand is less than 1, it refers to inelastic demand which further means, the change in quantity demanded is less w.r.t change in price.
Similarly, when price elasticity of demand is greater than 1, it signifies change in quantity demanded is more w.r.t change in the price.
In the given case, the cashier thinks lowering prices will increase the total revenue. This indicates the cashier believes the demand to be elastic.
Similarly, the friend's belief of increased prices leading to increased total revenue signifies inelastic demand.
<span> Where a gift is made during the calendar year in which the donor dies, the last date for paying the tax required shall be the last date, including extensions, for filing the estate tax return under chapter 217 with respect to such donor.</span>
FIFO inventory costing method generally results in the most recent costs being assigned to ending inventory.
Inventory costing also referred to as stock cost accounting is when groups assign expenses to merchandise. these fees additionally consist of incidental costs consisting of the garage, management, and market fluctuation.
Stock price control has many aspects, such as financing, device, labor, shielding measures, coverage, handling, obsolescence, losses via pilferage, and the possible value of selecting to deal with an inventory. these elements all integrate to create the full price of conserving inventory costs.
The inventory cost method consists of starting stock cost, ending inventory cost, and purchase expenses over a fixed time period. more succinctly, it seems like: stock cost = [beginning inventory + inventory purchases] - finishing stock.
Learn more about inventory costing here:
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Answer: Fictitious refunds
Explanation:
A fictitious refund scheme, occurs when a fraudster processes a transaction to look as if a customer was returning a merchandise, even though there was no actual return. While some fraudsters create an entirely fictitious refund, other fraudsters just overstate the amount of a legitimate refund that took place and steal the excess money.
Billy Mitchell covering his gambling debts, issuing several refund credits to his personal credit card for amounts that were below the store’s review limit is an example of fictitious refund scheme.
Answer:
c. $34,575
Explanation:
Data provided in the question
Accounts receivable = $44,890
Accounts payable = $6,405
Cash = $16,070
Common stock = $42,500
Long-term notes payable = $20,600
Merchandise inventory = $28,475
Salary Payable = $28,170
Retained earnings = $50,465
Prepaid insurance = $2,365
So, The computation of the current liabilities are as follows
= Accounts payable + salary payable
= $6,405 + $28,170
= $34,575
Therefore, the current liabilities only includes the account payable and the salary payable.
