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Afina-wow [57]
3 years ago
6

Providers cannot maintain inventories of their services, leading them to vary prices according to demand. For example, most hote

ls charge more for lodging during holiday seasons than at other times of the year. This distinguishing characteristic of services is known as:
Business
1 answer:
hram777 [196]3 years ago
5 0

Answer:

Perishability

Explanation:

Perishability describes how business services cannot be stored. As we all know, we've defined services as offering of an intangible commodity for sale. This intangible commodity can neither be stored, saved, returned or resold after they've been used. Thus, perishability in terms of services refers to how businesses cannot be stored for sales in the future. In this case, hotels tend to charge less during other times of the year as they cannot store their services to be rendered only in the holiday times of the year.

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In Year 1, Lee Inc. billed its customers $62,000 for services performed. The company collected $51,000 of the amount billed. Lee
PIT_PIT [208]

Answer:

Lee Inc.

a. Amount of revenue Lee will report on the Year 1 income statement:

= $62,000

b. Amount of cash flow from revenue to report on the statement of cash flows:

= $51,000

c. The net income for the period:

= $23,000

d. The net cash flow from operating activities for the period:

= $20,000

e. The amount of net cash flow from investing activities:

= ($21,000)

f. The amount of net cash flow from financing activities:

= $40,000

f. Amounts of total assets, liabilities, and equity on the year-end balance sheet:

Total assets = $71,000

Total liabilities = $8,000

Total Equity = $63,000

Explanation:

a) Data and Calculations:

Service Revenue = $62,000

Cash collection from customers $51,000

Outstanding (Accounts Receivable) $11,000 ($62,000 - 51,000)

Operating expense on account = $39,000

Cash paid on account  31,000

Outstanding (Accounts Payable) $8,000

Common Stock $40,000

Land $21,000

b) Cash Account:

Cash collection from customers $51,000

Cash paid on account                   (31,000)

Common Stock                              40,000

Land                                              (21,000)

Cash balance                              $39,000

c) Income Statement:

Service Revenue   $62,000

Expenses                (39,000)

Net Income           $23,000

d) Assets:

Cash                         $39,000

Accounts Receivable   11,000

Land                            21,000

Total                          $71,000

e) Liabilities:

Accounts Payable      $8,000

Common Stock          40,000

Net Income                23,000

Total                          $71,000

f) Statement of Cash Flows:

Operating activities:

Cash collection from customers     $51,000

Cash paid to suppliers                      (31,000)

Net cash from operating activities $20,000

Investing activities:

Land                                                ($21,000)

Financing activities:

Common Stock                               $40,000

3 0
3 years ago
A ____ is a source of revenue flowing into the firm.
diamong [38]
The answer is revenue stream.
3 0
3 years ago
Wichasha, an african country, exports barley and cotton worth $100 million to illema, a european country, and it imports sugarca
max2010maxim [7]

Answer: Balance of Trade

Explanation:

<em>Balance of trade</em> is the difference between the value of exports from a country and the value of imports into the country. When the value of exports is greater than imports, the balance of trade is positive and the country has a <em>trade surplus</em>. While, when the value of exports is less than the value of imports, the balance of trade is negative and the country has a <em>trade deficit</em>.

In this case,  Wichasha's exports is higher than the total value of its imports so, it has a trade surplus or positive balance of trade.

7 0
3 years ago
Operations managers at Alumax Corporation have found that they can achieve efficient production only by producing very large qua
DedPeter [7]

Answer: continuous production process

               

Explanation: In simple words, it refers to a production process in which the organisation has to keep doing the production due to the potential loss of of degradation of the raw materials or any other such factors.

In the given case, the company is able to produce efficiently only if they produce in large quantities.

Hence they should indulge in continuous production process.

7 0
3 years ago
· No clear separation of governmental powers.
ankoles [38]

Answer: The answer is constitutional monarchy

Explanation:

The question is based on constitutional monarchy and practising a parliamentary system of government. A constitutional monarchy is a situation whereby the king is the head of state recognized by the constitution. While the prime minister is the head of government. The prime minister in a parliamentary system of government is a member of parliament elected by his constituency to represent to represent them in the parliament. For example Britain, Belgium,Australia.

The person who assume the position of prime minister is usually the leader of the party who won the majority seat in the parliament. In this government, the executive is also an integral part of the parliament, and before anyone can become a minister under such a government such a person must have won a seat in the parliament also to represent his or her constituency in the parliament. In this system, the king or Queen is the ceremonial head of state.While the prime minister is the real head of government who oversee the day to day affairs of the government. In this system of government, the government seize to exist when a vote of no confidence is passed on such a government on the floor of the house.when this happened, the prime minister must resign and call for new election into the parliament.

4 0
3 years ago
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