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Mademuasel [1]
3 years ago
12

Christy enjoys baking pies from fresh fruit, especially blueberries, blackberries, and strawberries. When she goes to the market

intending to buy blackberries, she finds the price of blackberries has risen slightly. She decides to buy blueberries or strawberries instead. Christy's demand for blackberries is:
Business
1 answer:
Bess [88]3 years ago
6 0

Answer:

Christy's demand for blackberries is elastic.

Explanation:

Christy purchases blueberries, blackberries, and strawberries. When the price of blackberries rises to a small extent, Christy will instead purchase strawberries or blueberries.  

This shows that the demand for blackberries is elastic. Elastic demand refers to the situation when a small change in price causes the quantity demanded to change to a great extent.

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Bigham Corporation, an accrual basis calendar year taxpayer, sells its services under 12-month and 24-month contracts. The corpo
Gnesinka [82]

Answer: 2016= $13,000; 2017= $25,000

Explanation:

for 2016

Income to be recognised in 2016 for 12 months term=  Total proceeds x  period of service provided (july -december )/ Total contract term

Income to be recognised in 2016= 14,000 x 6months /12months

= 14,000 x 1/2= $7,000

Income to be recognised in 2016  for 24 months term= Total proceeds x  period of service provided (july -december )/ Total contract term

Income to be recognised in 2016= 24,000 x 6months /24months

= 24,000 x 1/4= $6,000

income to be recognized in taxable income in 2016= $7,000 + $6,000= $13,000

for 2017

Income to be recognised in 2017 for 12 months contract term=  Total proceeds x   remaining period of service provided from jan. to june 2017 / Total contract term

Income to be recognised in 2017= 14,000 x 6months /12months

= 14,000 x 1/2= $7,000

Income to be recognised in 2017 for 24 months contract term=  Total proceeds x   remaining period of service provided  fromjuly 2016 -dec 2017/ Total contract term

Income to be recognised in 2016= 24,000 x (24-6) 18months /24months

= 24,000 x 3/4= $18,000

income to be recognized in taxable income in 2017= $7,000 + $18,000= $25,000

7 0
3 years ago
On September 1, Year 1, Great Lakes Equipment receives $24,000 from a customer for work to be performed evenly over the next 2 y
posledela

Answer:

Great Lakes should recognize on the income statement for the year ending December Year 1 $4,000

Explanation:

The income statement only recognize the amount of money that was generated during the period of the income statement.

If the company invoiced by month, it only recognize the total amount for the last four months of the year.  

7 0
3 years ago
Insurance can help you: evefi
leva [86]

Insurance can definitely help you in case of an emergency.

Hope this helps!

8 0
3 years ago
Which of the following best describes a valuable asset used to secure a loan from a lender?
katrin [286]

Answer:

A. Collateral

Explanation:

Collateral is a pledge that is given to a person in exchange for a loan (of something). The pledge could be redeemed after the loan has been returned (along with whatever strings has come attached with borrowing the item).

~

3 0
3 years ago
What is the core of marketing<br>​
kkurt [141]

Answer:

l

Explanation:

the core concept of marketing is a social and managerial process by which individuals and groups obtained what they need and want through creating,offering and exchangeing products of value with others

7 0
3 years ago
Read 2 more answers
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