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bearhunter [10]
3 years ago
14

Assume the market basket for the consumer price index has two​ products, bread and​ milk, with the following values in 2013 and

2018 for price and​ quantity: Base Year​ (2013) 2018 Product Quantity Price Price Milk 50 ​$1.20 ​$1.50 Bread 100 1.00 1.10 The Consumer Price Index for 2018 equals
a. 118
b. 116
c. 86
d. 85
e. none of the above
Business
1 answer:
Gnesinka [82]3 years ago
3 0

Answer:

b. 116

Explanation:

The calculation of Consumer Price Index is shown below:-

CPI = ((Base year basket quantities × current year price) ÷ (Base year basket quantities × Base year prices)) × 100

= ((50 × $1.50) + (100 × $1.10)) ÷ ((50 × $1.20) + (100 × $1.00)) × 100

= (185 ÷ 160) × 100

= 115.6

0r 116

So, for computing the consumer price index for 2018 we simply applied the above formula.

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Ben works at a top accounting firm in Salt Lake City and his responsibilities include developing individual and departmental goa
olasank [31]

Answer:

Information levels

Explanation:

Ben works at a top accounting firm in Salt Lake City and his responsibilities include developing individual and departmental goals, and generating financial analysis across departments and the enterprise as a whole. Ben's duties provide value-added to his company and would be categorized as different information levels

Ben has to manage information on what we can say three different level; individual level which is developing individual goals, team or business unit , which according to the question is departmental goals and generating financial analysis across deparments and on a corporate level, which is the enterprise as a whole which will be reviewed by the executive teamand adding value to the company as a whole.

4 0
3 years ago
Prior period adjustments to financial statements can result from: Multiple Choice Changes in estimates of salvage value. Materia
AveGali [126]

The answer is  material math error.

An adjusting entry is essentially a bookkeeping modification that improves the accuracy of the financial statements by reflecting the revenue and spending on an accrual basis, which is typically but not always the case. At the conclusion of the accounting period, adjustments are made. This might happen towards the end of the month or at the end of the year.

Prior period adjustments are errors or mistakes committed in the prior reporting period. These mistakes must be remedied or eliminated by taking suitable corrective action. Prior period items include factual errors, arithmetic errors, and errors in applying accounting rules.

Therefore, material math error is the correct option.

To know more about adjustment to financial statements click here:

brainly.com/question/24178504

#SPJ4

4 0
2 years ago
What is the difference between an elementary educator and a high school educator?
Nuetrik [128]
Elementary educators have to be patient and careful with what, how, and where they teach. High School educators need to be strict about when, and how.
5 0
3 years ago
The basic premise of​ ______ is that firms should establish objectives and evaluate strategies on criteria other than using only
mart [117]

Answer:

D, balanced scorecard

Explanation:

A balanced scorecard is a management strategy in which managers are able to assess the amount of job done by employees under their area of control.

It also helps to see whatever complications or success that are as a result of the job done by the employees.

A balance scorecard involves the satisfaction of customers by how much time, quality of service, performance of service, among other things. Also, the balance scorecard is helps to focus on some other important roles that could affect customer satisfaction.

Cheers.

3 0
3 years ago
Piper, a US citizen owns 100% of the stock of FORco, a foreign manufacturing and sales subsidiary. In 2020, FORco had $10 millio
ss7ja [257]

Answer:

$70000

Explanation:

We have been give in this question that a 100 percent of FORcos share belongs to piper. He owns a 100 percent fully. Piper has to include that which he deposited. 7 million dollars of 2 percent

= 7million dollars x 1 percent

= 7000000 x 0.01

= $70000

So piper has to include in gross income her share of FORcos f income for investment in united states property and this has been calculated as 70000

5 0
2 years ago
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