Calculation of Net sales last year for Lang Company:
It is given that Gross billings for merchandise sold by Lang Company to its customers last year amounted to $11,720,000; sales returns and allowances were $370,000, sales discounts were $175,000.
Net sales can be calculated using the following formula;
Net Sales = Sales –Sales Returns –Allowances
= $11,720,000-$370,000-$175,000
= $11,175,000
Hence the Net sales last year for Lang Company is $11,175,000
Hence the correct asnwer is <u>c. $11,175,000.</u>
Answer:
The right solution is Option A "buys $300000 worth rupees bonds".
Explanation:
Given:
Money multiplier,
= 3
Change in money supply,
= $900000
As we know,
⇒ 
Or,
⇒ 
On putting the values, we get
⇒ 
⇒ 
($)
Answer:
price-taking assumption.
free entry assumption.
Explanation:
A perfectly competitive market is one in which different firms compete for consumers of their products. The characteristics of the perfectly competitive market are:
- products are nearly identical
- all the firms are price takers. That is they are not able to determine price independently
- buyer knowledge of information about products is perfect and available to all
- free entry and exit to the market
- resources are perfectly mobile
In the given scenario above two of these rules are not obeyed.
Alcoa was effectively the sole seller of aluminum because the firm owned nearly all of the aluminum ore reserves in the world.
So they determine the price ( they are not price takers)
Also since they own nearly all the aluminium reserves there is no free entry for new firms
Answer:
increase income or decrease total expenses
Explanation:
Over budget refers to a situation where the estimated costs exceed the actual resources available or the amount allocated. Over budget is when expenses are more than allocated finances.
There are insufficient funds in an over budget. To address the insufficient funds issue, more resources must be obtained, or the expenses must be reduced.
Answer:
Italicize film, book, magazine, song titles, as well as artworks, plays, TV and radio programs, foreign expressions, et cetera.
Explanation:
Hopefully this helps you
