Answer:
Income statement will have an increased expense of $4.8 million and Revenue and cost of goods sold will decrease. In balance sheet the inventory will be decreased by the amount of crib toy inventory available.
Explanation:
Income Statement will show an expense of $4.8 million in this period as the cost of recall of inventory due to health hazard. Also sales and cost of goods sold will decrease by the amount of sales of crib toy in sales and by the amount of crib toys cost in cost of goods sold and will ultimately result in decrease in a gross profit of a company.
In the Balance Sheet the amount of Inventory will be decreased by the amount of crib toys available in stock.
<u>Answer:</u>
The correct answer for this is 'non price competition'.
<u>Explanation:</u>
When a real estate agent says the three most important factors when buying a property are “location, location, location,” the agent is referring to one of the forms of non price competition.
Non-price competition is a type of competition where two or more than two producers use factors like customer service, packaging or delivery rather than the price to increase the demand of the product or service.
Here, location is used as a non-price competition to increase the demand.
Answer:
A. an increase in the price level (inflation)
Explanation:
When there is an unanticipated increase in aggregate demand it usually result in the general increase in the price level of that good demanded (inflation). This is because when there is an unpredicted increase in demand for a good, the demand becomes higher than the supply for that good at that particular period. Because the supply is now less than the aggregate demand, the prices of the commodity is then increased to discourage demand. The increase in the price of the commodity (inflation) therefore is a direct result from the increase in the aggregate demand for that commodity.
Economic cartoons is your answer
Answer:
Is referred to as accumulated depreciation.
Explanation:
Depreciation can be defined as the reduction of cost of a fixed asset systematically until the value of the asset becomes zero.
The Modified Accelerated Cost Recovery System (MACRS) can be defined as a depreciation system that avails business owners or companies the ability and opportunity to recover or recoup the cost basis of physical assets that have experienced deterioration over a specific period of time.
In the United States of America, the Modified Accelerated Cost Recovery System (MACRS) is used mainly for tax purposes because it gives room for faster depreciation of a physical asset in its first years or initial usage and reduces depreciation as it is being used over a long period of time.
Hence, the total amount of depreciation recorded against an asset over the entire time the asset has been owned is referred to as accumulated depreciation.
