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3 years ago

A binding price ceiling for apartments (effective rent control) will:

Business

1 answer:

wolverine [178]3 years ago

5 0

Answer: lead to a shortage cause quantity demanded exceeds quantity supplied of rental housing.

Explanation: A price ceiling is a government regulated price control that sets the legal maximum price that can be charged for a good. The price ceiling is binding when it is set below the equilibrium price. In this situation, the price ceiling prevents the forces of demand and supply to intersect at the equilibrium price. At the ceiling price, demand for the good is greater than its supply. Thus, an effective price ceiling which is set below the equilibrium price creates a shortage in the market.

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Lore Co. changed from the cash basis to the accrual basis of accounting during 2005. The cumulative effect of this change should

marysya [2.9K]

Answer: Prior period adjustment resulting from the correction of an error.

Explanation:

The Cash basis method is not acceptable under both IFRS and U.S. GAAP accounting principles and these are the principles followed by the majority of the world so Lore Co. was using the cash basis in violation of both conventions which means that their accounting records before the change are considered wrong and full of errors.

In changing to the acceptable principles, they are correcting that error and need to adjust prior periods for that error as well.

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2 years ago

Even after a foreclosed property is sold at public auction, the defaulting borrower may be able to recover the property for a ti

9966 [12]

This right is called the right of Redemption

The right of redemption enables borrowers who have fallen behind on their mortgage payments to regain their homes by paying the outstanding balance plus interest and penalties either before the foreclosure process gets underway or, in some areas, even after a foreclosure auction.

When a person takes out a mortgage to purchase a property, the house itself acts as security for the loan. In other words, if a homeowner misses a payment, they lose possession of the house. Many mortgage notes contain a clause referred to as the right of foreclosure that explains a lender's power to foreclose on a property and specifies the circumstances in which the lender may do so.

Learn more about the Redemption here brainly.com/question/13554337

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8 0

1 year ago

On October 1, Courtland Company sold merchandise in the amount of $5,800 to Carter Company, with credit terms of 2/10, n/30. The

Vilka [71]

Answer:

The journal entry that Courtland makes on October 8 is:

Debit Cash $5,684

Debit Sales Discount $116

Credit Receivable Accounts $5,800

Explanation:

On October 1, when Courtland Company sold merchandise, the following entries were made:

1. Debit Cost of goods sold $4,000

Credit Merchandise $4,000

2. Debit Receivable Accounts $5,800

Credit Sales $5,800

Credit terms of 2/10, n/30 means that 2% discount for the payment within 10 days and the full amount to be paid within 30 days.

Carter pays and takes the appropriate discount:

2% x $5,800 = $116

Cash Courtland Company receives: $5,800-$116 = $5,684

The journal entry that Courtland makes on October 8 is:

Debit Cash $5,684

Debit Sales Discount $116

Credit Receivable Accounts $5,800

3 0

2 years ago

david wants to know if his company's resources are being used in the best, most productive manner in order to achieve company go

abruzzese [7]

David wants to know if his company’s resources are being used in the best, most productive manner in order to achieve company goals. David wants to know his organization’s efficiency.

<h3>What is the significance of the organization’s efficiency?</h3>

Organizational efficiency of an organization mainly examines and determines how to increase the productivity of an organization by using a specific amount of resources.

Organization’s efficiency plays a very significant role in the smooth and effective operations of the firm as it helps the organization achieving the objectives.

Basically, the efficiency of an organization completely depends on its employees, resources, goals and objectives.

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7 0

1 year ago

Which of the following statement is incorrect about the mission? A. The mission statement provides boundaries and focus for org

34kurt

Answer: OPTION E

Explanation: Mission refers to the ultimate goal that a business organisation has. It is the end point towards which all the procedures and activities of the business is to be carried out.

It is the future determining factor of a business. In nowadays the business is operating at a very high level with different functional area. These areas have different activities to perform and are useful in different ways by the organisation.

Thus, every functional area could have its different mission to complete.

7 0

2 years ago