Answer: c. They would do better charging $15 than $10.
Explanation:
It is given that Max and Maddy total cost of car parking remains the same, that is it does not matter whether they have seven or five cars parked on their lawn. So, since total cost is constant, Max and Maddy's decision would depend on total revenue.
Total revenue from charging, $10 is $70,
Total revenue from charging $15 is $75.
Since, total cost is constant, Max and Maddy will choose to charge $15 since it is giving them $5 more.
To be useful for decision making, information should possess the fundamental qualities of relevance and <u>Faithful representation</u>.
<h3>What is faithful representation?</h3>
Faithful representation can be defined as the financial accounting concept that stated a company financial position which they present should be correct with what the company has as their financial statement.
It is paramount that a company a financial statement is accurate to what they present in the financial statement and should not be compromise.
Therefore To be useful for decision making, information should possess the fundamental qualities of relevance and <u>Faithful representation</u>.
Learn more about Faithful representation here:brainly.com/question/14506917
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Answer:
Option (D) is correct.
Explanation:
It was given that video game is a normal good. We know that there is a positive relationship between the demand for a normal good and income of the consumer, hence, if there is an increase in the income level of the consumer then as a result the demand for a normal good increases which shifts the demand curve for normal good rightwards.
Therefore, this will lead to increase both equilibrium price and equilibrium quantity in the market for video games.
...... conversely, especially good weather would shift the SUPPLY CURVE TO THE RIGHT. Supply curve shifting to the right means that productivity is increased. An increase in agricultural productivity will leads to increase in supply of agricultural products which in turn will results in decrease in price for the products.
Answer:
A. Debit Equipment and credit Cash.
- You purchase equipment and you pay in cash.
B. Debit Dividends and credit Cash.
C. Debit Wages Payable and credit Cash.
- You paid wages that you owed to your employees. Generally wages are paid at the end of the week and not all months end on a weekend. So you must record wages payable until you actually pay the wages.
D. Debit Equipment and credit Common Stock.
- You received equipment in exchange for common stock.
E. Debit Cash and credit Unearned Revenue.
- You received cash in advance for some food that you will deliver in the future.
F. Debit Advertising Expense and credit Cash.
- You incurred in advertising costs and you paid them in cash.
G. Debit Cash and credit Service Revenue.
- You sold meals and your clients paid you in cash.
