Answer:
The $2,700 is the amount which recognized as net accounts receivable on the balance sheet as of November 30
Explanation:
The computation of net accounts receivable is shown below:
= Selling price of softball equipment - defective merchandise amount
= $3,000 - $300
= $2,700
The $1,800 is not considered in the computation part because the Wilton company received an order from Douglas high school which is irrelevant for Paola middle school. Neither the discount terms are considered because the company did not receive the amount.
Answer: True
Explanation:
An Oligopolistic market is one where the suppliers are very few in number. Cooperation is indeed difficult in such markets as they are motivated by self-interest to try to make more profits than their competitors.
This usually leads to an undesirable outcome. For instance, if two oligopolistic firms agree on a price to sell goods, one of them might decide to sell at a lower price in order to gain more market share. This will cause the other firm to reduce its prices as well which means that both companies would be worse off than when they started.
Answer: In a free-enterprise system,
There are few limits on the use of private property.
Consumers make all of their economic choices.
Producers make all of their economic choices
<h3>a. There are few limits on the use of private property: </h3>
In a free enterprise system the holders of private property are free to buy and sell property. The government doesn't impose restrictions on such transactions.
<h3>b.
Consumers make all of their economic choices. Producers make all of their economic choices.</h3>
In a free enterprise system, the producers set the price they want to charge for their product. Similarly, the consumers decide what they want to pay for the product. Hence the prices of commodities and the quantities supplied are decided by the market forces of demand and supply.
Answer:
d) Both of these answers are correct.
Explanation:
Base on the scenario been described in the question, Operating income can differ materially between the results for the weighted-average and FIFO methods when the physical inventory levels of work in process are large relative to the total number of units transferred out and direct materials or conversion costs per unit vary significantly from period to period.
