This is true. Opportunity cost is the next highly-valued option you give up when you make a choice.
Answer: False
Explanation:
The price elasticity of supply measures the change in quantity supplied when the price changes.
The basic trend is that when price increases, quantity supplied increases as well. The reverse is true.
Price elasticity of supply = %Change in quantity supplied / % change in price
0.5 = -6% / Change in price
0.5 * Change in price = -6%
Change in price = -6% / 0.5
= -12%
The statement above is therefore false because price should have reduced by 12% for quantity supplied to reduce by 6%
Answer:
Specialty store
Explanation:
A specialty store is a retail business that specializes in a particular range of products and its related merchandise. A specialty store will have an extensive depth of the merchandise that its stocks. For example, a business may focus on office supplies, men clothing, or household appliances as opposed to having a wide range of consumer products.
Specialty stores will often sell their products at a premium price. They offer excellent and friendly customer service. Employees at a specialty store have in-depth knowledge about their products and will provide expert advice to customers.
Machinery repairs, property taxes, salaries for workers variable: number of workers, what crop is being produced, gas for machinery.
Answer:
b. Decrease in net income; no effect on cash flow from operating activities
Explanation:
The adjusting entry is shown below:
Salaries expense A/c Dr $4,500
To Salary payable A/c Dr $4,500
(Being the accrued salary is recorded)
As we can see that the salaries expense is an expense account due to which the net income got decreased plus the salary payable has come under current liabilities of the balance sheet so there is no impact on the cash flow from operating activities
