Answer:
Popular indices include:
1. Global Competitiveness Index.
2. Global Innovation Index.
3. Where-To-Be-Born Index.
Explanation:
Managers study economic environment of a country to assess its performance and estimate the potential. Popular indices should include the following three things:
'Global Competitiveness Index' which is a report that would give an assessment of how productive a country is when using its available resources. This would then give an idea of how much a country will grow.
'Global Innovation Index' measures all the aspects of innovation and help provide the tools that would help in modifying policies so that the country's productivity is grown, there are more jobs and so on.
'Where-to-be-born index' measures the country's output on how it can provide best chances for a healthy and a safe life.
Answer:
Sales Revenue – Cost of Goods Sold = gross profit
Explanation:
A merchandising business is one that is involved in selling goods to customers. The firm may purchase or produce the goods it sells. Merchandising firms report an expense named the cost of goods sold COGS. This cost represents the total cost of all goods sold to customers during a period.
Costs of goods sold include the direct cost associated with the merchandise. Calculation of COGS is by adding net purchases to the opening stock then subtracting ending stock. The cost of goods sold is used in calculating gross profit. Service firms do not report this cost as they do not sell goods.
Answer:
D. Liabilities are overstated
Explanation:
The given journal entry is
Cash A/c Dr XXXXX
To Account payable A/c XXXXX
(Being the cash collection is recorded)
This above journal entry is wrong.
The correct journal entry is as follows:
Cash A/c Dr XXXXX
To Account receivable A/c XXXXX
(Being the cash collection is recorded)
For rectifying this error, either we reverse the given entry and pass the correct journal entry that is shown above or pass the entry that is given below:
Account payable A/c Dr XXXXX
To Account receivable A/c XXXXX
So, we can see the liabilities accounts are overstated due to this error
Answer: d. sell the ticket because the marginal benefit exceeds the marginal cost.
Explanation:
The marginal benefits exceed the marginal costs in this scenario as the marginal benefit if $300 and the marginal cost is $200.
The company should therefore sell the ticket as they would be making a net marginal benefit of $100. Were it the other way around and the marginal cost was larger, the company should not sell because they would be making a marginal loss.