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3 years ago

A substitute good is one that_________.

Business

1 answer:

melamori03 [73]3 years ago

3 0

Answer:

e. can be used in place of another good, fulfilling the same basic purpose

Explanation:

Substitute goods are products used in place of another when it becomes unavailable or beyond cost and even for other reasons. Such products are however only recognized as substitute products where it fulfills the basic purpose as the other.

For example, a person may choose to make a trip by train rather than by bus. The basic purpose of the bus is to get the person to a desired destination and where the train is used in place of the bus to get the person to the desired destination.

As such, the train is a substitute to the bus.

Hence the right option is e. can be used in place of another good, fulfilling the same basic purpose

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The Maroon & Orange Gym, Inc., uses the accrual method of accounting. The corporation sells memberships that entitle the mem

SashulF [63]

Answer:

c. $180 in 2019

Explanation:

The company uses the accrual method of accounting. Under the method, revenues are reported on the income statement when they are earned, regardless of when the money is actually received or paid.

On July 1, 2017, the company sold a one-year membership and a two-year membership. In 2017, The Maroon & Orange Gym, Inc. has provided service for 6 months of each contracts.

Gross income of one-year membership in 2017 = $40 x 6 = $240

Gross income of one-year membership in 2017 = $30 x 6 = $180

Total income = $240 + $180 = $420

In 2018, the company continued to provide service for 6 months remaining of one-year membership and 12 months remaining of two-year membership.

Gross income of one-year membership in 2018 = $40 x 6 = $240

Gross income of one-year membership in 2018 = $30 x 12= $360

Total income = $240 + $360 = $600

In 2019, the company completed providing service for 6 months remaining of two-year membership.

Gross income in 2019 = $30 x 6= $180

4 0

3 years ago

What are two different ways in which we usually express information about the demand for a good service or resource?

Sauron [17]

The two different ways in which we usually express information about the demand for a good service or resource are the demand schedule is equal to the demand curve.

Explanation:

Demand refers to a consumer's appetite and willingness to buy products and services and to pay the price for a particular good or service. Keeping all the other variables steady will decrease the amount required by increasing the price of a good or service and vice versa.

Usage means the potential of consumers to buy goods and services at certain prices.

It can be either market demand for a particular commodity or aggregate demand for all products in such an economy.

Demand decides, in conjunction with supply, the actual cost and the quantity of goods which increase in value on the market.

4 0

3 years ago

Suppose you have $1,000,000 today and starting a year from now you intend to spend this money over the next 30 years. Assume the

elena55 [62]

Explanation:

Here Initial amount = $10,00,000

Nominal Interest Rate = 9.2%

inflation Rate = 5%

Real Interest Rate = 4%

in question it was asked to give in real then we will use the real discount rate to know annual spent amount

Present Value = PMT×PVIFA ( at 4% and 20 years)

Therefore, PMT = Present Value of Cash / PVIFA ( at 4% and 20 years)

= 1000000 / 13.5903

= $73581.75

Where, PMT = Annual Spent Amount

PVIFA = Present Value interest Factor Annuity

7 0

3 years ago

Dock Corporation makes two products from a common input. Joint processing costs up to the split-off point total $33,600 a year.

Inga [223]

Answer:

The financial disadvantage for the company is 3,500

Explanation:

Computation is Shown Below;

Sales Value at split-off Point = 24000

Subtract: Allocated joint Cost =<u> 16800</u>

Profit if sold at split-off point = 7200

Sales Value after processing = 35500

Subtract: Allocated joint Cost = 16800

Sub: Cost of further processing <u>= 15000 </u>

Profit if Processing further = 3700

Financial Disadvantage = 3700 - 7200 = (3500)

5 0

3 years ago

Read 2 more answers

The forecasting model that uses a panel of experts who may not even know each other is the ________ model.

MaRussiya [10]

Answer: Delphi model

Explanation:

The Delphi model is one of the type of forecasting process method that specifically uses the different types of panel of experts for the purpose of questionnaires round.

This type of method also uses various types of face to face conservation meetings so that is why is also known as the structured communication process.

According to the given question, the forecasting model is basically using the panel experts for the purpose of forecasting the business and the industrial based information and their decisions. The versatility is one of the advantage of the Delphi model.

Therefore, Delphi model is the correct answer.

4 0

4 years ago