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iogann1982 [59]
3 years ago
8

If a decrease in income increases the demand for a good. True or False

Business
1 answer:
Masja [62]3 years ago
3 0

Answer:

If a decrease in income increase the demand for a good , the good is an inferior good.

An inferior good is a good whose demand falls when income rises and rises when income falls.

Inferior goods have an indirect relationship with income

A normal good is a good whose demand rises when income increases and falls when income falls.

Normal goods have a direct relationship with income.

A substitute good is a good that can be used in place of another good. For example if good A and B are substitutes, if the price of good A increases, it would become more expensive for consumers and consumers would shift to consuming good B. As a result the demand for good B would rise and the quantity demanded of good A would fall.

Complements are goods that are used together. If the price of one of the goods increases, the demand for the other good falls and vice versa.

For example, gasoline and car are complements. If the price of cars fall, people would increase their demand for cars and as result the demand for gasoline would increase.

I hope my answer helps you

Explanation:

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The phantom corporation started 5,200 units during february. phantom started the month with 740 units in process (40% complete)
lutik1710 [3]
Hi there

units were transferred to the finished goods inventory during february
5,200+740−440
=5,500...answer

Good luck!
6 0
3 years ago
Which of the following is a correct statement? Multiple Choice Writing off an uncollectible account under the allowance method d
jok3333 [9.3K]

Answer:

Estimating un-collectible accounts expense improves the matching of revenues and expenses.

Explanation:

When uncollectibles are recorded through allowance method then, bad debts expense is provided, which reduces net income. But at the time of writing off only the allowance and accounts receivables account is affected and not the net income.

When direct method is used then also the net income gets reduced, as bad debt expense and accounts receivables is affected.

And as provided in first para, when estimating and creating the allowance for bad debts, it affects net income, and it also represents the true and fair view of expenses and income.

Thus, statement c is correct.

4 0
3 years ago
Skysong, Inc. compiled the following financial information as of December 31, 2022:
kifflom [539]

Answer:

$459,000

Explanation:

The computation of the ending retained earning balance is shown below:

Ending retained earning balance is

= Opening retained earning balance + net income - dividend

where

Net income

= Service revenue - operating expenses

= $827,000 - $748,000

= $79,000

Now the ending retained earnings balance is

= $444,000 + $79,000 - $64,000

= $459,000

3 0
2 years ago
The excess return is computed as the: Multiple Choice return on a security minus the inflation rate. risk-free rate plus the inf
navik [9.2K]

Answer: Return on a risky security minus the risk-free rate.

Explanation:

The excess return is known to be the amount of return on a risky asset that exceeds the return that one would have received had they invested in a risk-less asset such as Treasury Bills.

If the return you received on shares was 5% and the return on riskfree assets is 2%, your excess return is 3%.

Please do react or comment if you need any clarification or if the question helped you so you can help others as well. Thank you.

7 0
3 years ago
A strategy to be the industry's overall low-cost provider tends to be more appealing than a differentiation or best-cost or focu
Zigmanuir [339]

The offerings of rival firms are essentially identical, standardized, commodity-like products.

<h3><u>Explanation:</u></h3>

Strategy refers to the plans that are made and executed by a firm in achieving the objectives. Niche refers to the segment of customer that is being focused by a business in selling its products and services. When any company sells its products and services at a lower cost than its competitors then it will achieve success and also will survive in the market rivalry.

Differentiation refers to the process of selling the similar products at different prices to different consumers  of different market. A strategy to overall low-cost provider of the industry tending to be more appealing when compared with the differentiation or best-cost or focus/market niche strategy when The offerings of rival firms are essentially identical, standardized, commodity-like products.

7 0
3 years ago
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