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3 years ago

The study of how people choose to use scarce resources to satisfy their wants and needs

Business

1 answer:

NeTakaya3 years ago

5 0

Answer:

Economics

Explanation:

Economics is the study of the activities that individuals and society undertake to satisfy their unlimited wants using scarce resources. Economics involves analysis of the production of goods and services, their distribution and consumption in a country. It involves the study of how individuals, firms, and the government allocates scarce resources to meet the need of society.

Economics is categorized in microeconomics and macroeconomics. Microeconomics concentrates on the key economic indicators such as demand, supply, and income and how they affect an individual, firm, or product. Macroeconomics studies the economic conditions in a country as a whole. It is concerned with issues such as inflation, Unemployment rate, and GDP

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The Reingold Hat Company uses the allowance method to account for bad debts. During 2018, the company recorded $800,000 in credi

olasank [31]

Answer:

$24,000

Explanation:

Since in the question it is given that the 3% of credit sales is considered to be a bad debt expense

where,

Credit sales is $800,000

And, the estimated percentage is 3%

So by considering this above information, the amount debited to bad debt expense is

= $800,000 × 3%

= $24,000

All the other information i.e to be given is not relevant. Hence, ignored it

4 0

3 years ago

Hudson Co. reports the contribution margin income statement for 2015. Assume sales remain constant at 10.000 units.HUDSON CO. Co

gizmo_the_mogwai [7]

Answer:

Results are below.

Explanation:

Giving the following information:

Selling price= $244

Unitary variable cost= 195 - 8= $187

Fixed costs= 327,600 + 37,000= $364,600

<u>We need to determine the new pre-tax income:</u>

Sales= 244*10,000= 2,440,000

Total variable cost= 187*10,000= (1,870,000)

Total contribution margin= 570,000

Fixed costs= (364,600)

Pre-tax income= 205,400

5 0

2 years ago

The estimated expense for accounts that may not be collected is referred to as:

sashaice [31]

Answer: a bad debt expense

Explanation:

The estimated expense for accounts that may not be collected is referred to as. bad debt expense. Joyce Corp uses the percentage-of-receivables method to account for bad debt expense. Joyce determines that a customer account of $20,000 should be written off as uncollectible

3 0

2 years ago

Kurt's entertainment has a receivables turnover rate of 14.8, a payables turnover rate of 10.4 and an inventory turnover rate of

ruslelena [56]

The firm’s operating cycle is equivalent to the sum of the total number of days of a cycle of the receivables turnover and the inventory turnover.

Receivables turnover = 365 days / 14.8 = 24.66 days

Inventory turnover = 365 days / 22.6 = 16.15 days

Operating cycle = 24.66 days + 16.15 days = 40.81 days

<span>Answer: 40.81 days</span>

3 0

3 years ago

Currently, the spot exchange rate is $0.85/A$ and the one-year forward exchange rate is $0.81/A$. One-year interest is 3.5% in t

yarga [219]

Answer:

B) $42,035

Explanation:

Calculation to determine How much can you realize certain profit in U.S. dollar terms

First step is to calculate the repayment liability after one year

Repayment liability = (A$1,176,471 × 1.042)

Repayment liability = A$1,225,882.78

Second step is to determine the investment yield

Investment yield = $1,000,000 ×(1+.035)

Investment yield = $1,000,000 × 1.035

Investment yield= $1,035,000

Third step is to convert the investment yield into A$ at the forward rate of the amount of $0.81

A $ to yield = $1,035,000 ÷ 0.81

A $ to yield= A$1,277,778.22

Now let determine How much can you realize certain profit in U.S. dollar terms

Arbitrage Profit=(A$1,277,778.22-$1,225,882.78)×0.81

Arbitrage Profit= A $51,895.44 × 0.81

Arbitrage Profit = $42,035

Therefore How much can you realize certain profit in U.S. dollar terms will be $42,035

3 0

2 years ago

The study of how people choose to use scarce resources to satisfy their wants and needs​

The study of how people choose to use scarce resources to satisfy their wants and needs