Answer:
The correct answers are revenue; assets.
Explanation:
Just as you can use the vertical analysis applied to the Balance Sheet, you can also analyze the Income Statement, for which exactly the same procedure as for the balance sheet is followed, and the reference value will be sales, since it is due Determine how much a certain concept represents (Sales Cost, Operating Expenses, Non-Operating Expenses, Taxes, Net Profit, etc.) with respect to the total sales.
Answer:
With 2% inflation during the next 10 years, an item that presently sells for 100 will cost 102 in 10 years' time.
Explanation:
However, if the predicted inflation rate of 2% happens year on year, then the cost of the item will become 121.90 (100 (1+ 2%)∧10), compounded annually. In itself, inflation is the decline of the purchasing power of a given currency over some period of time. It is a quantitative measure of the rate at which the decrease in the purchasing power of the selected currency occurs, and how this is reflected in the price level of a basket of selected goods and services in that economy over some period of time.
The best illustration of the economic concept is scarcity. Thus the correct option is (C).
<h3>What is Scarcity?</h3>
Scarcity refers to the limited or the shortage of the natural resources in the particular region. It is an economic concept which defines that there is the shortage to the infinite needs of the human beings because resources are finite.
According to the illustration the corner offices in the high rise building has the high rent because of the limited number of the high rise offices and the huge demand of the location.
Thus the correct option is (C).
Learn more about economic concept here:
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Answer:
LIFO
Explanation:
To record the lowest cost of goods sold, the ending inventory amount must be high. This would only be high in LIFO whish would not be affected by declining costs.
By using LIFO (Last in First Out) inventory valuation will be based on the value of the earliest goods purchased instead of latest goods purchased as in FIFO (First In First Out)
