Answer:
Cross-price elasticity of demand between printed and digital magazine subscriptions is 8.91.
Explanation:
Percentage change in price of Printed Magazine Subscription = ((Printed Magazine Subscription Price1 - Printed Magazine Subscription Price0) / Printed Magazine Subscription Price0) * 100 = (($13.40 - $20) / $20) * 100 = -33%
Percentage change in quantity of Digital Magazine Subscription Quantity = ((Digital Magazine Subscription Quantity1 - Digital Magazine Subscription Quantity0) / Digital Magazine Subscription Quantity0) * 100 = ((208 - 216) / 216) * 100 = -3.7037037037037%
Cross-price elasticity of demand between printed and digital magazine subscriptions = Percentage change in price of Printed Magazine Subscription / Percentage change in quantity of Digital Magazine Subscription Quantity = -33% / -3.7037037037037% = 8.91
Note: The relationship between printed and digital magazine subscriptions is that they are substitutes because the cross-price elasticity between them is positive. That is, an increase in the price of printed digital magazine makes consumer to switch to and buy more of digital magazine which is a substitute.
Answer:
The company should recognize a loss on sale of plant asset of $100,00.
Explanation:
The cost = $375,000
Accumulated Depreciation = $150,000
Therefore, book value = $225,000
This book value is compared with the sales value of $125,000.
There is a difference of $100,000 ($225,000 - $125,000).
Since the book value is greater than the sales value, it means that the plant asset was sold at a loss.
The cost is the amount at which the plant asset was purchased. The accumulated depreciation represents the cost that has been expensed so far. The sales value is the amount at which the plant asset was sold.
In recording the cost of goods sold for cash, based on data available from perpetual inventory records, the journal entry is debit Cost of Goods Sold; credit Inventory.
<h3>What are inventory?</h3>
Inventory include taken records of goods that are sold and the once that are available.
For goods that are sold they are removed from the available goods including the cost and added to the inventory as sold.
Therefore, In recording the cost of goods sold for cash, based on data available from perpetual inventory records, the journal entry is debit Cost of Goods Sold; credit Inventory.
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Answer:
Correct option is (c)
Explanation:
Managerial accounting reports are prepared for the internal use by managers within different departments in the organization. They may or may not be published for external users like creditors or customers.
These reports need not comply to any established authorities like GAAP or IFRS. They are used by managers for various decision making purposes, so they can be prepared as per the manager's convenience.
Answer:
a). True
Explanation:
<u>The given statement asserts a true claim that the job structure of an organization comprises of corresponding pay scales for the different employees performing different activities and functions according to the levels of authority or leadership they have been provided</u>. The job structure is the aspect that establishes the hierarchy or of various ranks and positions in which the company is organized to aptly manage the running of the business and its associated activities successfully and efficiently. Thus, the statement is <u>true</u>.
