False.
If the price of a product goes up by 10% and the quantity demanded goes up by 20% the product is a GIFFEN GOOD.
An inferior good is a good that decreases in demand if income increases. These are the goods that people opt not to buy when their purchasing power increases.
Answer:
The correct answer is letter "D": Traceable to a single cost object.
Explanation:
Direct Cost for finished goods is referred to the costs of the items and services directly used in production that can be allocated to a single cost object. Other costs including rent and production site insurance are indirect costs. The cost of the finished goods may be assigned to indirect costs, but they are not direct costs because they do not change with production levels.
Answer:
A government department is a sector of the UK government that deals with a particular area of interest. Government departments are either ministerial or non-ministerial departments.
Ministerial departments are led politically by a Government Minister, usually called a ‘secretary of state’ and supported by a team of junior ministers and civil servants, themselves led by a Senior Civil servant known as a permanent secretary, in charge of administrative management. Ministerial departments cover matters requiring direct political oversight, such as the Department for Transport or the Foreign Office.
Explanation:
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Answer and Explanation:
The computation is shown below;
1. The willing amount to pay for the promise should be less than $20 that represents the time value of money
2. Now the present value is
= Received amount × discounting factor at 6% for 3 years
= $1,000 × 0.839
= $839
3. Now the interest rate is
As we know that
Future value = Present value × (1 + rate of interest)^number of years
$1,000 = $863.84 × (1 + rate of interest)^3
rate of interest =5% approx
The journal entry to replenish the petty cash account is credit to Cash for $266.
<h3>How would petty cash be replenished?</h3>
The amount that needs to be replenished is:
= Petty cash fund - cash
= 298 - 32
= $266
This amount needs to be taken from the cash account which is why the cash account will be credited with $266.
Find out more on the petty cash fund at brainly.com/question/27585546
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