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Pie
3 years ago
14

Suppose Sharon earns $575 per week working as a programmer for PC Pros. She uses $9 to get her car washed at Spotless Car Wash.

Spotless Car Wash pays Paolo $300 per week to wash cars. Paolo uses $200 to purchase software from PC Pros.
and
1. Paolo spends $200 to purchase software from PC Pros.
- A. Resource Market? B. Product Market market?
2. Paolo earns $300 per week working for Spotless Car Wash
- A. Resource Market? B. Product Market market?
3. Sharon spends $9 to get her car washed.
- A. Resource Market? B. Product Market market?
Which of the elements of this scenario represent a flow from a household to a firm? This could be a flow of dollars, inputs, or outputs.
1. The $300 per week Paolo earns working for Spotless Car Wash
2. The $200 Paolo spends to purchase software from PC Pros
3. Sharon's labor
Business
1 answer:
ElenaW [278]3 years ago
3 0

Answer:

First Question

1. B

2. A

3. B

Second Question

The $200 Paolo spends to purchase software from PC Pros.

Explanation:

1. Paolo's transaction falls under the product market cash flow because he wittingly spends on a product–the software.

2. Paolo's earnings comes to the resource market, since he is been paid for his human resourcefulness in the organization.

3. Sharon's payment for washing her car is best placed on the Product market flow since she is spending on a personal product–the car.

The $200 Paolo spends to purchase software from PC Pros in this scenario represent a flow from a household to a firm because he (an individual belonging to a household) transfers his money to the firm.

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The question of when revenue should be recognized on the income statement according to GAAP is addressed by the:
sleet_krkn [62]

Answer:

a. Revenue recognition principle

Explanation:

The revenue recognition principle refers to the principle in which the revenues are recorded when it is realized or earned. It follows the accrual basis of accounting

It is not recorded when the cash is actually received.

When the sale is made, the same is to be shown in the books of accounts

Therefore as per the GAAP, the revenue should be addressed by revenue recognition

hence, the correct option is a.

4 0
3 years ago
How do u know charmed life caitlin's lucky charm is fiction?
Diano4ka-milaya [45]
I don't know that book, but you know something is fiction when it's something that simply can not happen in real life, also if it's based on a character, like Sammy took a bath when he finished playing soccer, unlike dolphins are mammals, which is nonfiction. Hope this helps! Please rate brainiest answer!
7 0
3 years ago
If a city of 10,000 experiences 200 births, 60 deaths, 10 immigrants, and 30 emigrants in the course of a year, what is its net
kykrilka [37]

Solution:


200 births and 10 immigrants will be added to the population. Total is 210.


60 deaths and 30 emigrants will be taken away from the population. Total here is 90.


Just a reminder that an emigrant is somebody who leaves their own country to lastingly settle into a different country.


Therefore, 210 people are added to the population, and 90 people are to be subtracted, for a net gain of 210 - 90 = 120 people.


What percentage is 120 of 10,000?


<span>120/10,000 = 0.012 = 1.2% annual growth rate</span>

3 0
3 years ago
A minimum wage is an example of a price floor or minimum price that must be paid. If effective, such a price floor would be ____
valkas [14]

Answer:

If effective, such a price floor would be <u>above</u> the market price and would lead to a <u>excess supply</u>.

Explanation:

A price floor can be described as a price control in which the minimum price to be charged for goods and services is imposed by a government or a group.

For a price floor to be effective and binding, it has to be set above the market or equilibrium price. This is because a price floor will neither be effective nor nonbinding when it set below the equilibrium price.

Any price above the equilibrium or market price creates or leads to excess supply. Excess supply is a situation whereby quantiy of commodity supplied is more than the quantity demanded of the commodity.

Based on the above explanation, if effective, such a price floor would be <u>above</u> the market price and would lead to a <u>excess supply</u>.

3 0
3 years ago
While JIT systems have many benefits, they:______.
Fiesta28 [93]

Answer:

Option A

Make the logistics function more complicated

Explanation:

The JIT inventory system refers to the Just In Time inventory system.

The just-in-time (JIT) inventory system is a management strategy where warehousing of parts is minimum. Rather, the raw material supply is aligned accurately with the production schedule of a particular good.

For example, in car production, the various car parts are supplied by various manufacturers at just the right time so they can be assembled to make up the car in the assembly line. The car assembly companies may not necessarily have to store raw materials in their ware house since the raw materials arrive "Just in time".

However, aligning the supply of raw materials accurately with production time, is a complicated task especially when a lot of manufacturers are involved and can need to plant down time if care is not taken. This makes the logistics function more complicated.

5 0
3 years ago
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