Which shift in the demand curve most likely to describe a company in a monopolistically competitive market that begins to spend more on advertising? An upward shift on the demand curve. A monopolistic competitive market is imperfect competition because many products sell similar products but they are different due to branding and quality used so they are not perfect substitutes for one another.

4 0

3 years ago

Under LIFO, net income exists if revenues are sufficient to cover the __________ cost of the units of inventory sold, provided n

dolphi86 [110]

Answer:

<u>total</u>

Explanation:

Remember, a LIFO method of accounting for inventory differs in that it records the most recently produced items as sold first; meaning Last in, First Out. Thus leading to recording the lowest cost of older products in the inventory.

A case of lower Net income (income after deductions of cost) thus exists if revenues are sufficient to cover the total cost of the units of inventory sold which reduces taxes.

5 0

3 years ago

Wood Incorporated factored $165,600 of accounts receivable with Engram Factors Inc. on a without recourse basis. Engram assesses

ruslelena [56]

Answer:

The journal entries are shown below:

Explanation:

Cash $149,040

Due from factor $11,592 ($165,600 × 3%)

Loss on sale of receivables $4,968 ($165,600 × 3%)

To Account receivable $165,600

(Being the factoring of account receivable is recorded)

Account receivable $165,600

To Due from factor $11,592 ($165,600 × 3%)

To Cash $149,040

To Gain on sale of receivables $4,968 ($165,600 × 3%)

(Being the factoring of account receivable is recorded)

Only these entries are passed

5 0

3 years ago

Toronto Corporation's financial statements include the following information: Cash $ 6,100 Net Credit Sales $315,000 Accounts re

eimsori [14]

Answer:

nhfgbtrg

Explanation:

nhgnrf

7 0

2 years ago