Answer:
Urgency / Postponement leads to customer inelastic demand of ice melt.
Explanation:
Elasticity of demand is responsive change in demand of good, due to change in price. Formula = % change in demand / % change in price
Factors Affecting Price Elasticity of Demand : Nature of commodity, Income, substitutes availability, time period, urgency / postponement, share in total expenditure,
Inelastic Demand is when demand responds proportionately less to price change. % change in demand < % change in price
Case 'Customer critically needs ice melt to drive to work' : This has inelastic demand i.e demand less respondent to price changes (he will buy that at high price too). Such because of the urgency of this demand & less scope of its postponement.
Because some of the items in the estate might be damaged or might be old and torn down & they wouldn't want to include them in the selling of the home, because it could put a bad reputation on the home.
The entry to close the dividends account at the end of the year is: Debit cash $5,200 and Credit dividends $5,200
<h3>What is a dividend?</h3>
Dividend is a form of payment made by the company to its existing shareholders, usually as a distribution of profits. It is a portion of company's earnings during the period being returned to their investors.
Dividends are means of both profit distribution and incentives for the investor who keeps on investing in the company.
The entries for dividend accounts are :
Debit cash $5,200
Credit dividends $5,200
Hence, the entry to close the dividends account at the end of the year is: Debit cash $5,200 and Credit dividends $5,200
Learn more about dividend here : brainly.com/question/25845157
