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3 years ago

Which of these statements best represents the law of supply? select one:

Business

1 answer:

Nata [24]3 years ago

7 0

The answer is: A.When the price of a good decreases, sellers produce less of the good

When the price of a good decrease, the amount of profit that the sellers could made is also decreasing. Because of this, sellers would feel less motivation to sell that product and start to reduce the supply of the product and replace it with newer ones.

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Oriole Company uses the percentage of receivables method for recording bad debts expense. The accounts receivable balance is $28

Tju [1.3M]

Answer:

Dr. Bad debt expense. $11,200

---------To Allowance for doubtful accounts $11,200

Explanation:

Given that:

Accounts receivable balance = $280,000

Total credit sales = $2,810,000

5% of accounts receivables will be bad debt = $280,00 × 5% = $14,000

Credit balance allowance for doubtful account = $2,800 and it must increase to $14,000 I.e $14,000 - $2,800 = $11,200

Adjusting journal entry

Dr Bad debt expense $11,200

-------- Cr Allowance for doubtful accounts $11,200

8 0

3 years ago

Sally, the manager at a large restaurant chain, was just given information from the corporate office on how to increase sales in

Illusion [34]

Answer: C. Measure performance

Explanation: Controlling is the managerial functions of planning, staffing, organizing, implementing and directing. It helps to check the errors and take corrective action, so it is known as an important function of management. It is necessary to ensure that the desired results are achieved.

The control process is the system that allows setting, measure, match and tweak any business activities such as production, packaging, delivery and more. ... The control process is the functional process for organizational control that arises from the goals and strategic plans of the organization.

6 0

3 years ago

Read 2 more answers

A policy maker is unsure of the true marginal damages associated with a good, but they know that the marginal externality is con

katovenus [111]

Answer: True

Explanation:

Marginal externality is constant. However, it may not be calculated with accuracy. Hence, there's need for estimates at reasonable levels.

Hence, the policymaker's estimate of $35/ unit is reasonable and within the acceptable range of between $10 and $50/unit. Also, the tax charge raises social welfare compared to no tax at all.

6 0

3 years ago

Which of the following scenarios most accurately reflects the concept of scarcity?

mojhsa [17]

Answer:

2. Brett is a farmer with an open field on which he can plant either soybeans or corn.

Explanation:

Scarcity in economics means the resources available to meet man's needs are limited or scarce.

In brett's case, land is limited, so he has to choose between planting soybeans and corn.

I hope my answer helps you

3 0

3 years ago

At year end, Rebos Company's financial statements showed sales of $820 million, net income of $425 million, total assets of

Dafna11 [192]

Answer:

total sales $820 million

net income $425 million

total assets $750 million

total liabilities $735

1.2 million outstanding common stocks

an offer was made to buy their assets at $742.5 million

<u>company's book value per share:</u>

= (total assets - total liabilities) / total number of outstanding common stocks

= ($750,000,000 - $735,000,000) / 1,200,000 = $12.50 per stock

<u>company's liquidation value per share:</u>

= (total offer - total liabilities) / total number of outstanding common stocks

= ($742,500,000 - $735,000,000) / 1,200,000 = $6.25 per stock

4 0

3 years ago