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scZoUnD [109]
2 years ago
5

Why is efficiency and innovation important to a society

Business
1 answer:
Mrrafil [7]2 years ago
8 0

Efficiency and innovation is important to a society because they are key components to bringing income into their economy and creating jobs for those within it. Being efficient means to use your resources wisely and get through work at a good pace. Being efficient doens't mean you need to rush through anything, just use your time and resources as best as you can. Innovation is important because it creates new ideas for consumers and producers to make and sell within an economy. When a new invention comes about, that gives opportunities for growth and expansion of a company or a new or old.

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Why might a bank offer to make a loan to a customer at a low initial rate that will increase after a set period of time?
erica [24]
To make the loan look more attractive and competitive now
3 0
3 years ago
Read 2 more answers
During 2020, Sarasota Furniture Company purchases a carload of wicker chairs. The manufacturer sells the chairs to Sarasota for
vfiekz [6]

Answer

The answer and procedures of the exercise are attached in the following archives.

Step-by-step explanation:

Gross profit = Sales - Cost of goods sold

= (440 x 90 + 220 x 80 + 264 x 50) - (440 x 56.7 + 220 x 50.4 + 264 x 31.5)

= (39,600 + 17,600 + 13,200) - (24,948 + 11,088 + 8,316)

= 70,400 - 44,352

= $26,048

Ending inventory schedule attached in the excel archive

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

Download xlsx
8 0
3 years ago
A business in which the owners have little personal responsibility for the company’s debts and actions is called a
adell [148]
I believe the answer is A.
7 0
3 years ago
Zahra's Decoratives produces and sells a decorative pillow for $97.50 per unit. In the first month of operation, 2,000 units wer
GalinKa [24]

Answer:

$38,675

Explanation:

sales price per pillow $97.50

total production 2,000 units

total sales 1,750 units

costs:

variable costs $22.10 per unit

fixed manufacturing $13.00 per unit

fixed administrative expenses $19.50 per unit

variable costing assigns only variable costs to inventory and COGS, so the COGS using variable costing = 1,750 units x $22.10 = $38,675

under variable costing, all fixed costs are period costs (fixed manufacturing and fixed administrative).

4 0
3 years ago
Winter Company earned revenues of​ $150,000 in cash and​ $200,000 on account during 2018. Of the​ $200,000 on​ account, $63,000
ICE Princess25 [194]

Answer:

$235,000

Explanation:

Under the accrual accounting system, expenses are recognized in the period incurred and not necessarily in the period cash is paid.

Revenue is also recognized in the period earned and not necessarily when cash is collected.

Total revenue in 2018 = $200,000 + $150,000

= $350,000

Net income is the difference between the revenue and expense

Net income in 2018 = $350,000 - $115,000

= $235,000

8 0
3 years ago
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