1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
jok3333 [9.3K]
2 years ago
12

The essential difference between a command economy and a market economy is that in a market economy

Business
1 answer:
damaskus [11]2 years ago
4 0

Answer:

b  buyers and sellers determine resource allocation.

Explanation:

The market is regulated by the interaction between Sellers and Buyers. However, in a Command economy the market is regulated by the government policies.

You might be interested in
Business what kind education do you need
stich3 [128]
Basic or elementary business education
3 0
3 years ago
The town of Harmonia gives away all 500 tickets to its annual​ Founder's Day Free ConcertminusinminustheminusPark to local resid
Novosadov [1.4K]
sold 500 tickets therefore it is not economically efficient
4 0
3 years ago
The allowance for doubtful accounts currently has a debit balance of $200. The company's management estimates that 2.5% of net c
lidiya [134]

Answer:

Bad debt expense (w/o allowance) = $2,875

Bad debt expense ( with allowance) = $2,675.

Explanation:

According to the scenario, the given data are as follows:

Net credit sales = $115,000

Uncollectible percentage = 2.5%

So, we can calculate the bad debt expense without Allowance for doubtful accounts by using following method:

Bad debt expense ( W/o allowance) = $115,000 × 2.5%

= $2,875

After Allowance for doubtful expense

Bad debt expense = $2,875 - $200

= $2,675

4 0
3 years ago
The lower-of-cost-or-market method cannot be applied to
xxMikexx [17]
Any inventory not yet received
4 0
2 years ago
Hex Industries reports the following information for May: Sales $ 990,000 Fixed cost of goods sold 118,000 Variable cost of good
Semmy [17]

The gross profit of Hex Industries for May under absorption costing is $604,000.

<h3>What is absorption costing?</h3>

Under absorption costing, the total or full costs of manufacturing or (variable and fixed) cost of goods sold are included when determining the gross profit.

<h3>Data and Calculations:</h3>

Sales $ 990,000

Variable cost of goods sold 268,000

Fixed cost of goods sold 118,000

Total cost of goods sold = $386,000

Gross profit = $604,000 ($990,000 - $386,000)

Fixed selling and administrative costs 118,000

Variable selling and administrative costs 143,000

Total period costs = $261,000 ($118,000 + $143,000)

Net income = $343,000 ($604,000 - $261,000)

Thus, the gross profit of Hex Industries for May under the absorption costing method is $604,000.

Learn more about the absorption costing method at brainly.com/question/14609187

#SPJ1

4 0
2 years ago
Other questions:
  • The chart attached shows the costs and shipping times for materials that a company needs to build a new product.
    12·2 answers
  • A company has three products possible products that it can produce in a machine intensive production process. Capacity is constr
    7·1 answer
  • If the goal is to cut the total amount of smoke in half in the neighborhood, what isthe cost-effective way to do this?
    15·1 answer
  • Roberts Company uses the​ percent-of-sales method to estimate uncollectibles. Net credit sales for the current year amount to $
    5·1 answer
  • How to write 600,000+30,000+4,000+700+30 in word form?
    15·1 answer
  • Mitch runs an e-commerce business. He has engaged in social networking sites and blogs as part of a promotional campaign to attr
    13·1 answer
  • Canterbury Co. issues a discounted, non-interest-bearing note in exchange for borrowed funds. Choose whether the cash received w
    6·1 answer
  • Mango Company applies overhead based on direct labor costs. For the current year, Mango Company estimated total overhead costs t
    6·2 answers
  • I have a 781 credit score what can i get
    10·1 answer
  • In 2010, $1.00 U.S. bought 8.24 Chinese yuan and in 2012 it bought 6.64 Chinese yuan. How many U.S. dollars could 1 Chinese yuan
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!