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Vlad [161]
3 years ago
8

People often use products or services that are _________, to indicate who or where they are in the social hierarchy

Business
1 answer:
Setler79 [48]3 years ago
5 0

Answer:

Status Symbols

Explanation:

According to Oxford dictionary; a status symbol is "a possession that is taken to indicate a person's wealth or high social or professional status."

Hence status Symbols are external displays of the possessors' wealth and social status. These goods can not be possessed by people who do not belong to that social status or profession.

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A history graduate student in the United States gets an $18,000 stipend per year. The U.S. sees significant inflation. How might
Vesnalui [34]

Answer:

The student might ask for a raise in the stipend.

Explanation:

Inflation in the economy means that the price level will rise. This would lead to a decline in purchasing power. The real income of the student will decline because of the rise in price. In this situation, the student can ask for a raise in stipend proportionate to increase in the price level to counterbalance the inflationary pressures.

5 0
3 years ago
Read 2 more answers
Jenna is looking to buy a new computer. When would the price elasticity of demand be most elastic for her computer? Order the si
m_a_m_a [10]

Answer:

It is convenient for Jenna to buy her computer when the price is more elastic and the Offer of the good is large, because the greater the supply of a good, the lower the price and with the elastic demand. It means that the price varies in proportion to the the demand and supply of the good would have the price of convenience that the computer should buy.

The order of Jenna's computer is as follows:

* Jenna's work computer broke down and she needs a new one or else she can't work.

It is inelastic in this regard because Jenna needs the computer immediately and will not expect a variation in market prices.

* Jenna uses her computer recreationally and wants to be able to listen to music with her friends in two days when they visit her.

The purchase of the computer can wait two days, since although you need it to spend time with your friends, it is not extremely necessary.

* Jenna's computer works fine, but she wants to buy a newer model.

The purchase of the computer can wait therefore the demand becomes more elastic

4 0
3 years ago
What is the law of comparative advantage?
Lelu [443]

<u><em>A country is better off producing the goods and services that it has a comparative advantage supplying.</em></u>

<u><em></em></u>

3 0
3 years ago
Charter Corporation, which began business in 2013, appropriately uses the installment sales method of accounting for its install
Doss [256]

Answer:

a. Charter should recognize $80,000 as gross profit in 2013; and Charter should recognize $92,500 as gross profit in 2014.

b. The balance in the deferred gross profit account at the end of 2013 should be $105,000; and the balance in the deferred gross profit account at the end of 2014 should be $120,500.

Explanation:

Note: The data in this question are merged together. They are therefore sorted before answering the question. Kindly see the attached pdf file for the represented complete question with the sorted data.

The explanation to the answers is now given as follows:

Installment sales method can be described as a revenue recognition technique where a business postpone profit on a sale until when the cash is received from the buyer. A proportion of the profit based on gross profit percentage is then recorded as a profit for the period when the cash is received from the buyer.

This method can be applied to this question as follows:

Gross profit in 2013 = Installment sales in 2013 - Cost of installment sales in 2013 = $370,000 - $185,000 = $185,000

Gross profit percentage in 2013 = (Gross profit in 2013 / Installment sales in 2013) * 100 = ($185,000 / $370,000) * 100 = 0.50 * 100 = 50%

Gross profit in 2014 = Installment sales in 2014 - Cost of installment sales in 2014 = $360,000 - $252,000 = $108,000

Gross profit percentage in 2014 = (Gross profit in 2014 / Installment sales in 2014) * 100 = ($108,000 / $360,000) * 100 = 0.30 * 100 = 30%

a. How much gross profit should Charter recognize in 2013 and 2014 from installment sales?

<u>Gross to recognize in 2013:</u>

Gross recognized in 2013 in respect of 2013 instalment sales = Cash collections in 2013 on installment sales during 2013 * Gross profit percentage in 2013 = $160,000 * 50% = $80,000

Therefore, Charter should recognize $80,000 as gross profit in 2013.

<u>Gross to recognize in 2014:</u>

Gross recognized in 2014 in respect of 2013 instalment sales = Cash collections in 2014 on installment sales during 2013 * Gross profit percentage in 2013 = $110,000 * 50% = $55,000

Gross recognized in 2014 in respect of 2014 instalment sales = Cash collections in 2014 on installment sales during 2014 * Gross profit percentage in 2014 = $125,000 * 30% = $37,500

Total gross profit to recognize in 2014 = Gross recognized in 2014 in respect of 2013 instalment sales + Gross recognized in 2014 in respect of 2014 instalment sales = $55,000 + $37,500 = $92,500

Therefore, Charter should recognize $92,500 as gross profit in 2015.

b. What should be the balance in the deferred gross profit account at the end of 2013 and 2014?

<u>For 2013:</u>

Balance in the deferred gross profit in respect of 2013 account at the end of 2013 = Gross profit in 2013 - Gross recognized in 2013 in respect of 2013 installment sales = $185,000 - $80,000 = $105,000

Therefore, the balance in the deferred gross profit account at the end of 2013 should be $105,000.

<u>For 2014:</u>

Balance in the deferred gross profit account in respect of 2013 at the end of 2014 = Balance in the deferred gross profit in respect of 2013 account at the end of 2013 - Gross recognized in 2014 in respect of 2013 installment sales = $105,000 - $55,000 = $50,000

Balance in the deferred gross profit in respect of 2014 account at the end of 2014 = Gross profit in 2014 - Gross recognised in 2014 in respect of 2014 installment sales = $108,000 - $37,500 = $70,500

Total balance in the deferred gross profit account at the end of 2013 = Balance in the deferred gross profit account in respect of 2013 at the end of 2014 + Balance in the deferred gross profit in respect of 2014 account at the end of 2014 = $50,000 + $70,500 = $120,500

Therefore, the balance in the deferred gross profit account at the end of 2014 should be $120,500.

Download pdf
6 0
3 years ago
Firm X is being acquired by Firm Y for $35,000 worth of Firm Y stock. The incremental value of the acquisition is $2,500. Firm X
UkoKoshka [18]

Answer:

$34,789

Explanation:

Worth of stocks = $35,000

Incremental value of the acquisition = $2,500

Stock outstanding of Firm X = 2,000

Price per share of Firm X = $16

Stock outstanding of Firm Y = 1,200

Price per share of Firm Y = $40

Now,

Number of shares issued =  35,000 ÷ 40

or

= 875 shares

Value after merger = (Value of Stock x + Value of Stock Y + Synergy)

= (1200 × 40) + (2000 × 16) + 2500

or

= $82,500

Number of Stock Outstanding after merger  = ( 1,200 + 875 )

= 2,075

Thus,

Value per share after merger = $82500 ÷ 2,075

= 39.759

Therefore,

Actual cost of acquisition

= Value per share after merger × Number of shares issued

= 875 × $39.759

= $34,789

5 0
3 years ago
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