Answer:
Quantity of oil bought & sold would depend upon relative change i.e increase & decrease in demand & supply respectively.
- ↑Dd = ↓Sy : Qty same
- ↑Dd > ↓Sy : Qty ↑
- ↑Dd < ↓Sy : Qty ↓
Explanation:
Libya is an exporter of Oil to China. It implies china's demand for oil is satisfied by Libya's imports.
Usual markets are at equilibrium when market demand = market supply, demand & supply curves intersect.
Political unrest in Libya decreasing oil production, would decrease supply (exported) of oil to China & sift supply curve leftwards. Simultaneously, increase in China demand for oil would shift the demand curve rightwards. These changes in demand, supply would create excess demand. Excess demand would cause competition among buyers & increase the new equilibrium price.
However, <u>Quantity </u>of oil bought & sold would depend upon relative change , shift in demand & supply. If increase in demand is equal to decrease in supply, the quantity would remain<u> same.</u> If increase in demand is more than decrease in supply, quantity will <u>increase</u>. If increase in demand is less than decrease in supply, the quantity will <u>decrease.</u>
Answer:
$125,000
Explanation:
Particulars Amount
Sales revenue $115,000
Add: Accounts receivable decrease <u>$10,000</u>
Cash Receipt from customers <u>$125,000</u>
The sales revenue adjusted to a cash basis for the year is $125,000.
Answer:
Yes, Amelia responsible for the $75,000
Explanation:
It is given that Kendra and Amelia are jointly operating the art gallery, they are working together as a partnership. If a person does any work in the partnership business, other has full responsibility for partnership.
In the given question Kendra Has embezzled a $75,000 government grant, which will be responsible for partnership business but in the absence of Kendra, Amelia will also be responsible for all this.
Answer:
total sales are the internal failure costs is 2%
Explanation:
given data
form to reduce errors = $15,000
customer complaints = 75,000
Verifying = 30,000
Correcting errors = 60,000
Total = $180,000
sales = $3,000,000
to find out
total sales are the internal failure costs
solution
we know here that internal failture cost is express as
internal failture cost = correcting error in form ...........1
internal failture cost = $60000
and
internal failture cost as % of total cost is here as
internal failture cost to sale = 
.......2
internal failture cost to sale = 
internal failture cost to sale = 2%
so total sales are the internal failure costs is 2%
Answer:
Correct option is (D)
Explanation:
Total cost is a sum of Total fixed cost and total variable cost. Fixed cost does not change with the change in number of units produced. Variable cost on the other hand increases with the increase in production.
So, initially fixed cost is higher than variable cost at a certain production level. As production increases, fixed cost is spread across units and per unit fixed cost falls but variable cost keeps increasing, so total cost keep increasing with increase in production because of variable cost component.
